Acorda (ACOR) Alert: Johnson Fistel Investigates Acorda Therapeutics, Inc.; Investors Suffering Losses Encouraged to Contact Firm
SAN DIEGO, Nov. 16, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP is investigating potential claims on behalf of Acorda Therapeutics, Inc. ("Acorda") (NASDAQ: ACOR). Acorda is a biopharmaceutical company that, identifies, develops, and commercializes therapies for neurological disorders in the United States.
On August 29, 2017, Acorda disclosed that it had received a Refusal to File (RTF) letter from the U.S. Food and Drug Administration (FDA) regarding the new drug application it had submitted in June for Inbrija, a potential treatment for Parkinson's disease. Acorda stated, "FDA specified two reasons for the RTF: first, the date when the manufacturing site would be ready for inspection, and, second, a question regarding the submission of the drug master production record ." Following this news, Acorda stock dropped substantially.
Then on November 15, 2017, Acorda disclosed that it stopped enrolling new patients in its Phase 3 trial of tozadenant due to five deaths that took place in the group of patients taking tozadenant. Tozadenant is an oral adenosine A2a receptor antagonist currently in Phase 3 development as an adjunctive treatment to levodopa in Parkinson's disease patients to reduce OFF time. Acorda informed investors that new enrollment suspension was pending further discussion with the independent Data Safety Monitoring Board and the FDA. Following this news, Acorda's share price fell over 39%, to close at $17.00 on November 15, 2017.
If you have information that could assist in this investigation, including past employees and others, or if you are an Acorda shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker ([email protected]) by email or phone at 619-814-4471. If emailing, please include a phone number.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]
SOURCE Johnson Fistel, LLP
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