Acorda Therapeutics, Inc.
) recently announced that an additional method of use patent (US
patent application no. 8,440,703) related to Ampyra twice-daily
dosing of less than 15 mg has been issued by the US Patent and
Trademark Office (USPTO).
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We note that two method of use patents for Ampyra have already
been issued by the USPTO in 2011 and 2013, which are valid till
2027 and 2026, respectively. The '703 method of use patent will
protect Ampyra till 2025.
We remind investors that the US Food and Drug Administration
(FDA) approved Ampyra in Jan 2010 for the improvement of walking
in multiple sclerosis patients. Ampyra is available outside the
US under the trade name Fampyra. Acorda has a license and
collaboration agreement with
) for the development and commercialization of Fampyra outside
Ampyra is being studied for other indications as well including
cerebral palsy (encouraging efficacy data reported in Apr 2013
from a phase II proof-of-concept study) and post-stroke deficits
(positive top-line data from a phase II proof-of-concept study
reported in Apr 2013). The company plans to undertake further
development of Ampyra for the post-stroke deficit indication.
We believe that approval for additional indications will boost
Ampyra sales. However, we remain worried about the company's over
dependence on Ampyra for growth
Acorda carries a Zacks Rank #3 (Hold). Currently, companies like
) look attractive with both being Zacks Rank #1 (Strong Buy)