• Mon. Nov 30th, 2020

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Eye Catching Stock News: Acorda Therapeutics, Inc. (NASDAQ: ACOR)

On 13 March 2020, Acorda Therapeutics, Inc. (NASDAQ: ACOR) changed 2.35% to recent value of $0.87. The stock transacted 1103701 shares during most recent day however it has an average volume of 2698.01K shares. It spotted trading -94.18% off 52-week high price. On the other end, the stock has been noted 6.10% away from the low price over the last 52-weeks.

Acorda Therapeutics, Inc. (ACOR) recently provided a business update and stated its financial results for the fourth quarter and full year ended December 31, 2019.

Fourth Quarter 2019 Financial Results

For the fourth quarter ended December 31, 2019, the Company stated AMPYRA net revenue of $40.8M contrast to $64.2M for the same quarter in 2018 and INBRIJA net revenue of $6.1M.

Research and development (R&D) expenses for the quarter ended December 31, 2019 were $9.0M, including $0.6M of share-based compensation, contrast to $27.1M, including $1.2M of share-based compensation, for the same quarter in 2018.

Sales, general and administrative (SG&A) expenses for the quarter ended December 31, 2019 were $41.2M, including $2.0M of share-based compensation, contrast to $36.8M, including $3.8M of share-based compensation, for the same quarter in 2018.

Benefit from income taxes for the quarter ended December 31, 2019 was $0.8M, contrast to a benefit from income taxes of $63.1M for the same quarter in 2018.

The Company stated GAAP net income of $65.7M for the quarter ended December 31, 2019, or $1.38 per diluted share. GAAP net income in the same quarter of 2018 was $9.6M, or $0.20 per diluted share.

Non-GAAP net loss for the quarter ended December 31, 2019 was $7.1M, or $0.15 per diluted share. Non-GAAP net income in the same quarter of 2018 was $21.5M, or $0.45 per diluted share. This quarterly non-GAAP net (loss) income measure, more fully described below under “Non-GAAP Financial Measures,” excludes share-based compensation charges, non-cash interest charges on our debt, restructuring expenses, changes in the fair value of purchased contingent consideration, goodwill impairment charges, gain on extinguishment of debt, and gain on sale of assets. A reconciliation of the GAAP financial results to non-GAAP financial results is included with the attached financial statements.

Full Year Ended December 31, 2019 Financial Results

For the full year ended December 31, 2019, the Company stated AMPYRA net revenue of $163.2M contrast to $455.1M for the full year 2018 and INBRIJA net revenue of $15.3M.

Research and development (R&D) expenses for the full year ended December 31, 2019 were $60.1M, including $2.8M of share-based compensation, contrast to $106.4M, including $5.6M of share-based compensation for the full year 2018.

Sales, general and administrative (SG&A) expenses for the full year ended December 31, 2019 were $192.8M, including $10.8M of share-based compensation, contrast to $172.3M, including $15.7M of share-based compensation for the full year 2018.

Benefit from income taxes for the full year ended December 31, 2019 was $1.3M, contrast to a benefit from income taxes of $13.3M for the full year 2018.

For the full year ended December 31, 2019, the Company stated GAAP net loss of $273.0M, or $5.75 per diluted share. GAAP net income for the full year 2018 was $33.7M, or $0.71 per diluted share.

Non-GAAP net loss for the full year ended December 31, 2019 was $81.8M, or $1.72 per diluted share. Non-GAAP net income for the full year ended December 31, 2018 was $103.4M, or $2.18 per diluted share. This full year non-GAAP net (loss) income measure, more fully described below under “Non-GAAP Financial Measures,” excludes share-based compensation charges, non-cash interest charges on our debt, restructuring expenses, changes in the fair value of purchased contingent consideration, goodwill impairment charges, gain on extinguishment of debt, and gain on sale of assets. A reconciliation of the GAAP financial results to non-GAAP financial results is included with the attached financial statements.

At December 31, 2019, the Company had cash, cash equivalents, investments and restricted cash of $168.9M. Restricted cash includes $42.7M in escrow related to the 6% semi-yearly interest portion, payable in cash or stock, of the convertible note exchange completed in December 2019. If the Company elects to pay interest due in stock, the restricted cash will be released from escrow.

 ACOR has a gross margin of 81.90%. Its earnings per share (EPS) expected to touch remained 9.30% for this year while earning per share for the next 5-years is expected to reach at 29.00%.  The company has 57.06M of outstanding shares and 47.28M shares were floated in the market. According to the most recent quarter its current ratio was 2.3 that represents company’s ability to meet its current financial obligations. The price moved ahead of -35.84% from the mean of 20 days, -52.63% from mean of 50 days SMA and performed -75.04% from mean of 200 days price. Company’s performance for the week was -25.64%, -56.72% for month and YTD performance remained -57.35%.

 

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