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Thursday, October 19, 2006
ORAL FINGOLIMOD - Acorda Therapeutics to double work forceThe company's shares have climbed more than 190 percent since an initial public offering on Feb. 9. That is the largest gain this year in The Journal News/Bloomberg index, which tracks companies with a corporate headquarters or major local presence in Westchester, Rockland or Putnam counties.
Most of the gain in the stock price has come during the past month as investors reacted to upbeat news about a MS drug under development at Acorda. If the drug receives regulatory approval, it could one day make walking easier for the 320,000 Americans with MS who deal with mobility problems. Acorda has been working on the development of the drug since the mid-1990s. That was when Acorda acquired the rights to the medication from Elan, a pharmaceutical company in Ireland.
MORE/a>
Most of the gain in the stock price has come during the past month as investors reacted to upbeat news about a MS drug under development at Acorda. If the drug receives regulatory approval, it could one day make walking easier for the 320,000 Americans with MS who deal with mobility problems. Acorda has been working on the development of the drug since the mid-1990s. That was when Acorda acquired the rights to the medication from Elan, a pharmaceutical company in Ireland.
MORE/a>