ACOR has $12M profit on $63M sales. Nice margin growth since last quarterly report. This is only about 5% of the MS market in NA. It should be effective in about half the population, so top end sales might reach about $600M. Profit would be about $2.50 per share. However, there is a pipeline and trials to be paid for. And the market will value them more on their business profits rather than promises. The stock is down from $37 per share to about $27. Should get a nice bump up, but Mr. Market may insist on pricing it using profit metrics only.
Best,
graham
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reuters.com
Mon Nov 1, 2010 7:10am EDT
* Q3 EPS $0.31 vs est $-0.12
* Q3 rev $63.6 mln vs est $52.2 mln
Nov 1 (Reuters) - Acorda Therapeutics Inc (ACOR.O) posted its first quarterly profit in at least three years, surprising Wall Street analysts, on continued robust sales of its key drug Ampyra.
For the third quarter, the Hawthorne, New York-based company posted a net income of $12.4 million, or 31 cents a share, compared to a net loss of $19.4 million, 51 cents a share, a year ago.
The pharmaceutical company reported revenue of $63.6 million in the quarter, of which $52.6 million came from sales of Ampyra. The drug was launched in March to treat walking difficulties in patients with multiple sclerosis.
Analysts expected the company to post a loss of 12 cents a share, before special items, on revenue of $52.2 million, according to Thomson Reuters I/B/E/S.
Adoption of Ampyra continued at a robust pace with about 6,300 physicians having written at least one prescription for the drug, as of Sept. 30, the company said in a statement.
As of July 30, more than 4,200 physicians had written at least one prescription for Ampyra, Acorda had said in August.
Acorda shares, which have lost about 18 percent since the company reported its second-quarter results in August, had closed at $27.04 Friday on Nasdaq. |
