Acorda: 2Q Earnings Snapshot
ARDSLEY, N.Y. (AP) _ Acorda Therapeutics Inc. (ACOR) on Thursday reported a second-quarter loss of $27.5 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Ardsley, New York-based company said it had a loss of 58 cents. Losses, adjusted for one-time gains and costs, were 55 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of $1.06 per share.
The drugmaker posted revenue of $50.1 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $26.2 million.
Acorda shares have decreased 61% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $6.07, a fall of 75% in the last 12 months.