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Why Acorda Therapeutics Is Losing One-Quarter of Its Value Today

TheMotleyFool

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Why Acorda Therapeutics Is Losing One-Quarter of Its Value Today

After reporting that it has received a refuse-to-file letter from the FDA regarding its Parkinson's disease drug, Inbrija, shares in Acorda Therapeutics (NASDAQ: ACOR) are crashing 25% at 12:30 p.m. EDT Tuesday.

Acorda Therapeutics reported positive phase 3 trial results for Inbrija in February, and optimism that it could win FDA approval in time to offset the risk of generic competition to the company's multiple sclerosis drug, Ampyra, has helped prop up the company's share price.

Image source: Getty Images.

Source: Fool.com