Acorda: 3Q Earnings Snapshot
ARDSLEY, N.Y. (AP) _ Acorda Therapeutics Inc. (ACOR) on Monday reported a loss of $263.5 million in its third quarter.
The Ardsley, New York-based company said it had a loss of $5.55 per share. Losses, adjusted for one-time gains and costs, were 46 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 51 cents per share.
The drugmaker posted revenue of $47.7 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $44.4 million.
In the final minutes of trading on Monday, the company’s shares hit $2. A year ago, they were trading at $19.46.