Acorda gains following Ampyra appeal arguments

Acorda Therapeutics Inc. (NASDAQ:ACOR) added over $117 million in market cap on June 8 following oral arguments held June 7 in its appeal of a district court ruling invalidating four of five patents for multiple sclerosis drug Ampyra dalfampridine. The biotech touched a 52-week high of $36.35 in intraday trading before settling at $30.40, up $2.50.

Last year, the U.S. District Court for the District of Delaware invalidated four Orange Book-listed Ampyra patents that cover use of a 10 mg dose of a sustained-release formulation of 4-aminopyridine (4-AP) to treat walking impairments in MS patients. The ruling shortened its U.S. patent protection to 2018 from 2027 (see BioCentury, April 7, 2017)...