Acorda Therapeutics Implements Corporate Restructuring, Provides Third Quarter 2019 Update
Acorda Therapeutics, Inc. (ACOR)
Last acorda therapeutics, inc. earnings: 2/13 07:00 am
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Source: Business Wire
Total non-GAAP operating expenses for the full year 2020 expected to be $180 - $190 million1Estimated 2020 operating expenses reduced by ~$60 million compared to 2019 revised guidance- Includes more than $21 million in expected annualized cost savings from headcount reductionSeptember 30, 2019 cash balance of $253 million; 2019 year end cash balance expected to be greater than $225 millionINBRIJA and AMPYRA third quarter 2019 net sales of ~$5 million and ~$38 million, respectively ARDSLEY, N.Y.--(BUSINESS WIRE)--Acorda Therapeutics, Inc. (Nasdaq: ACOR) today announced a corporate restructuring to reduce costs and focus its resources on the launch of INBRIJA. As part of this restructuring, Acorda is reducing headcount by approximately 25% through a reduction in force. The Company has also reduced estimated 2019 operating expenses, and is providing 2020 operating expense guidance. The majority of the reduction in personnel will take place immediately, and will be completed in the fir
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