HAWTHORNE, N.Y.--(BUSINESS WIRE)--Feb. 23, 2007--Acorda
Therapeutics, Inc. (NASDAQ:ACOR) announced today that it has received
a letter from Third Point LLC dated February 22, 2007. The Company has
responded to Third Point as follows: The board of directors of Acorda
Therapeutics continually evaluates ways to maximize shareholder value
and to serve the best interests of all shareholders.
About Acorda Therapeutics
Acorda Therapeutics is a biotechnology company developing
therapies for spinal cord injury, multiple sclerosis, and related
nervous system disorders. The Company's marketed products include
Zanaflex Capsules(TM) (tizanidine hydrochloride), a short-acting drug
for the management of spasticity. For full prescribing information,
please go to www.zanaflexcapsules.com. Acorda's lead clinical stage
product, Fampridine-SR, recently completed a Phase 3 study in people
with MS. The Company's pipeline includes a number of products in
development for the treatment, regeneration and repair of the spinal
cord and brain.
Forward Looking Statements
This press release includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. All
statements, other than statements of historical facts, regarding
management's expectations, beliefs, goals, plans or prospects should
be considered forward-looking. These statements are subject to risks
and uncertainties that could cause actual results to differ
materially, including Acorda Therapeutics' ability to successfully
market and sell Zanaflex Capsules, the risk of unfavorable results
from future studies of Fampridine-SR, delays in obtaining or failure
to obtain FDA approval of Fampridine-SR, competition, the ability to
obtain additional financing to support Acorda Therapeutics'
operations, unfavorable results from its preclinical programs, and
failure to protect its intellectual property or to defend against the
intellectual property claims of others. These and other risks are
described in greater detail in Acorda Therapeutics' filings with the
Securities and Exchange Commission. Acorda Therapeutics may not
actually achieve the goals or plans described in its forward-looking
statements, and investors should not place undue reliance on these
statements. Acorda Therapeutics disclaims any intent or obligation to
update any forward-looking statements as a result of developments
occurring after the date of this press release.
CONTACT: Acorda Therapeutics
Tierney Saccavino, 914-347-4300 ext. 104
tsaccavino@acorda.com
SOURCE: Acorda Therapeutics, Inc.