Acorda therapeutics inc
ACORDA THERAPEUTICS INC
(Prospectus filed pursuant to Rule 424(b)(3))
2836 - Biological Products, Except Diagnostic Substances
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Filed Pursuant to Rule 424(b)(3) and Rule 424(c)
Registration No. 333-138842
Prospectus Supplement No. 1 (To Prospectus Dated December 12, 2006)
ACORDA THERAPEUTICS, INC.
This document supplements the information in our prospectus dated December 12, 2006, relating to the resale of 3,230,769 shares of
our common stock. This prospectus supplement should be read in conjunction with, and may not be delivered or utilized without, the prospectus dated December 12, 2006. The registration statement on Form S-1 to which this prospectus supplement relates was declared effective by the Securities and Exchange Commission on November 20, 2006. This prospectus supplement contains information that was set forth in an exhibit to a Current Report on Form 8-K filed with the Securities and Exchange Commission on February 20, 2007 with respect to our announcement on that date of our fourth quarter and full year 2006 unaudited financial results.
Unaudited Financial Results
Zanaflex Gross Sales
- For the fourth quarter ended December 31, 2006, we reported gross sales of Zanaflex Capsules TM of $6.9 million and
gross sales of Zanaflex ® tablets of $1.3 million providing combined gross sales of $8.2 million, compared to $2.7 million in combined gross
sales for the same quarter in 2005. For the full year ended December 31, 2006, we reported gross sales of Zanaflex Capsules of $18.1 million
and gross sales of Zanaflex tablets of $8.4 million providing combined gross sales of $26.5 million, compared to $5.9 million in combined
gross sales for the same period in 2005. Gross sales are recognized using a deferred revenue recognition model, meaning Zanaflex product
shipments to wholesalers are recorded as deferred revenue and only
recognized as revenue when end-user prescriptions of Zanaflex Capsules and tablets are reported.
- Zanaflex Capsules shipments for the quarter ended December 31, 2006 were $10.6 million and Zanaflex tablet
shipments were $2.0 million providing total shipments of $12.6 million compared to $1.7 million of Zanaflex Capsules shipments and $2.3
million of tablet shipments for total shipments of $4.0 million for the same quarter in 2005. For the year ended December 31, 2006, Zanaflex
Capsules shipments were $24.2 million and Zanaflex tablets shipments were $6.7 million providing total shipments of $30.9 million compared
to $7.8 million of Zanaflex Capsules shipments and $10.3 million of tablet shipments for total shipments of $18.1 million for the prior year.
We reported net loss of $7.0 million for the quarter ended December 31, 2006, or $0.30 per share, compared to a net loss of $15.8 million, or $75.59 per share, for the same period in 2005. We reported a net loss of $60.0 million for the full year ended December 31, 2006, or $3.27 per share, compared to a net loss of $60.4 million, or $295.27 per share, in 2005.
As of December 31, 2006, we held cash, cash equivalents, and short-term investments of $53.8 million, compared to $13.8 million at December 31, 2005.
Acorda Therapeutics, Inc
Consolidated Balance Sheet Data
Finished goods inventory held by the Company
Liabilities and stockholders’ equity (deficit)
Accounts payable, accrued expenses and other liabilities
Total Liabilities and Stockholders’ deficit
Acorda Therapeutics, Inc
Consolidated Statements of Operations
(in thousands, except per share amounts)
Three Months Ended
Twelve Months Ended
Interest and amortization of debt discount expense
Cumulative effect of change in accounting principle
Beneficial conversion feature, accretion of issuance costs, preferred
dividends, and fair value of warrants issued to convertible preferred stockholders
Net (loss) allocable to common shareholders
Net loss per share allocable to common stockholders - basic and diluted
Weighted average common shares outstanding used in computing net loss
per share allocable to common stockholders - basic and diluted
Original articles in peer reviewed journals 2011 (In Press) Reich K , Schenkel B, Zhao N, Szapary P, Augustin M, Bourcier M, Guenther L, Langley RG. Ustekinumab decreases work limitations, improves work productivity, and reduces work days missed in patients with moderate-to-severe psoriasis: results from PHOENIX 2. J Dermatolog Treat. 2010 Oct 31. [Epub in Medline ahead of print] 20
2013 PQRS Measures Groups Specifications Manual HEART FAILURE (HF) MEASURES GROUP OVERVIEW 2013 PQRS OPTIONS FOR MEASURES GROUPS: REGISTRY ONLY 2013 PQRS MEASURES IN HEART FAILURE (HF) MEASURES GROUP: Heart Failure: Angiotensin-Converting Enzyme (ACE) Inhibitor or Angiotensin Receptor Blocker (ARB) Therapy for Left Ventricular Systolic Dysfunction (LVSD) Heart Failure: Be