Acorda Therapeutics, Inc.
) and Mayo Clinic announced the enrollment of the first patient
in a phase I safety study of rHIgM22. rHIgM22, a remyelinating
monoclonal antibody, is being evaluated for the treatment of
multiple sclerosis (MS). The study will evaluate the safety,
tolerability and efficacy of rHIgM22.
Acorda already has a presence in the MS market in the form of
Ampyra, which is approved for the improvement of walking in
patients suffering from MS. Acorda is currently working on
expanding Amypra's label into additional indications.
The company recently presented encouraging data on Ampyra from
two phase II proof-of-concept studies for cerebral palsy and
post-stroke deficit. The company plans to discuss further
development of Ampyra for the post-stroke deficit indication with
Acorda has an agreement with
Biogen Idec Inc.
) for marketing Ampyra outside the US under the trade name
Fampyra. Fampyra is approved in the EU, Canada, Australia, Israel
and New Zealand.
According to Acorda, about 400,000 people in the US suffer
from MS. In addition, every year approximately 10,000 patients
are diagnosed. Moreover, in the EU, approximately 600,000 people
We remind investors that companies like Biogen and
) have a strong presence in the MS market. Biogen has MS products
like Tysabri and Avonex in its portfolio. The company recently
gained approval for Tecfidera, its oral MS treatment. Meanwhile,
Novartis' Gilenya is used for the treatment of relapsing forms of
Presently, Acorda carries a Zacks Rank #3 (Hold).
Comparatively, other biopharma stocks like
) look well positioned with a Zacks Rank #1 (Strong Buy).
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