Acorda Rises On Restructuring, ALXN Pauses COVID-19 Trial, SYBX On Watch
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1. Acorda Rises on Corporate Restructuring
Shares of Acorda Therapeutics Inc. (ACOR) jumped over 44% on Wednesday, on news of the company agreeing to sell its INBRIJA manufacturing operations in Chelsea, Massachusetts to Catalent, Inc. (CTLT) for $80 million in cash.
INBRIJA is a prescription medicine from Acorda Therapeutics indicated for use when needed with hypomobility or OFF episodes in adults with Parkinson s disease treated with regular carbidopa/levodopa medicine.
The companies have also inked a long-term global supply agreement under which Catalent will manufacture and package INBRIJA for Acorda, ensuring an uninterrupted drug supply for Acorda s patients.
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Editor’s note: This story is part of a series on the trends that will shape the industry in 2021. You can find all the articles on our trendline.
Three years ago, the Food and Drug Administration granted a landmark approval to the first gene therapy for an inherited disease, clearing a blindness treatment called Luxturna.
Since then, the regulator has approved one more gene therapy, the spinal muscular atrophy treatment Zolgensma, and given a green light for dozens of biotech and pharmaceutical companies to start clinical testing on others. Genetic medicines for a range of diseases, including hemophilia, sickle cell and several muscular dystrophies, appear in reach, and new science is galvanizing research.
My Trading Plan as We Wrap Up the Year While I remain quite bullish, I am trying to strategize a bit to deal with whatever might hide in the waning days of the year. Stocks quotes in this article: FBRX
Breadth has turned slightly negative and momentum has slowed a little, but the pockets of strong trading continues. This is a very good trading market, but it does present some dilemmas if you are trying to maximize gains, but want to keep accounts as close to highs as possible. While I remain quite bullish, I am trying to strategize a bit to deal with whatever might hide in the waning days of the year.