Scheduled to Reconvene November 11, 2022 at
9:00 a.m. Eastern Time at the Company’s Headquarters to Vote on
Proposal Two
Acorda Therapeutics, Inc. (Nasdaq: ACOR) convened its Special
Meeting of Stockholders on November 4, 2022, and a proposal to
adjourn the meeting was approved in order to provide stockholders
with additional time to vote on Proposal Two, Reverse Stock Split.
The Special Meeting will be reconvened on November 11, 2022 at 9:00
a.m. Eastern Time at the Company’s offices located at Two Blue Hill
Plaza, 3rd Floor, Pearl River, New York 10965. The sole matter of
business before the reconvened Special Meeting will be to approve
Proposal Two, the Reverse Stock Split.
Stockholders have thus far strongly supported Proposal Two. At
the time the meeting was convened on November 4, 2022, over 49% of
the outstanding shares had been voted FOR the proposal, over twice
as many shares than against the proposal. However, the favorable
votes were slightly less than the absolute majority of all
outstanding shares on the record date needed for approval. Proposal
Three, allowing the Special Meeting to be adjourned, was approved
at the Special Meeting. Both of these proposals are described in
the Company’s proxy statement for the Special Meeting, which was
filed with the Securities and Exchange Commission on September 22,
2022, and the supplement to the proxy statement filed on October 7,
2022.
The record date for determining stockholders eligible to vote on
Proposal Two at the reconvened Special Meeting remains September 9,
2022.
Acorda strongly encourages any eligible stockholder that has not
yet voted their shares, or provided voting instructions to their
broker or other record holder, to do so promptly. No action is
required by any stockholder who has previously delivered a proxy
and who does not wish to change their vote.
How Stockholders Can Vote:
Stockholders are encouraged to cast their vote promptly FOR the
Reverse Stock Split proposal without further delay.
By phone: Call 1-800-967-5051, Monday - Friday 9am to
10pm ET; Saturday 10am - 6pm ET. If you call after hours, leave a
message and the call center will call you back the next day.
Online: www.proxyvote.com Please have the control number
that was sent to you in the mail.
Mail: Sign, date, and return your proxy card in the
postage-paid, stamped envelope provided.
If you have questions or need assistance voting your shares,
please contact D.F. King & Co., Inc. toll free at
1-800-967-5051 or via email at ACOR@dfking.com.
Additional Information and Where to Find It
On September 22, 2022, the Company filed the Notice of Special
Meeting and Proxy Statement (the “Proxy
Statement”) and definitive form of proxy card with the
United States Securities and Exchange Commission (the “SEC”) in connection with its solicitation of
proxies from the Company’s stockholders. On October 7, 2022, the
Company filed a Supplement to the Proxy Statement (the
“Supplement”). Investors and stockholders are strongly
encouraged to read the Proxy Statement and Supplement, the
accompanying proxy card, and other documents filed by the Company
in their entirety, as they contain important information.
We urge Stockholders to review the Proxy Statement. Stockholders
can obtain copies of the Proxy Statement, Supplement, any other
amendments or supplements to the Proxy Statement, and other
documents filed by the Company with the SEC for no charge at the
SEC’s website at www.sec.gov. Copies are also available at no
charge on the Investors section of our website at www.acorda.com.
You may also obtain additional copies of the Proxy Statement and
other proxy solicitation materials by contacting our proxy
solicitor, D.F. King & Co., Inc., as directed above.
About Acorda Therapeutics
Acorda Therapeutics develops therapies to restore function and
improve the lives of people with neurological disorders. INBRIJA®
is approved for intermittent treatment of OFF episodes in adults
with Parkinson’s disease treated with carbidopa/levodopa. INBRIJA
is not to be used by patients who take or have taken a nonselective
monoamine oxidase inhibitor such as phenelzine or tranylcypromine
within the last two weeks. INBRIJA utilizes Acorda’s innovative
ARCUS® pulmonary delivery system, a technology platform designed to
deliver medication through inhalation. Acorda also markets the
branded AMPYRA® (dalfampridine) Extended Release Tablets, 10
mg.
Forward-Looking Statements
This press release includes forward-looking statements. 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: we may not be able to successfully
market AMPYRA, INBRIJA or any other products under development; the
COVID-19 pandemic, including related restrictions on in-person
interactions and travel, and the potential for illness, quarantines
and vaccine mandates affecting our management, employees or
consultants or those that work for other companies we rely upon,
could have a material adverse effect on our business operations or
product sales; our ability to attract and retain key management and
other personnel, or maintain access to expert advisors; our ability
to raise additional funds to finance our operations, repay
outstanding indebtedness or satisfy other obligations, and our
ability to control our costs or reduce planned expenditures; risks
associated with the trading of our common stock and our credit
agreements, including the potential delisting of our common stock
from the Nasdaq Global Select Market which could result in a
default under the indenture dated as of December 23, 2019 for
Acorda’s 6.00% convertible senior secured notes, and could prevent
the implementation of our business plan, and the success of actions
that we may take, such as a reverse stock split, in order to
attempt to maintain such listing and avoid a default; risks related
to the successful implementation of our business plan, including
the accuracy of its key assumptions; risks related to our corporate
restructurings, including our ability to outsource certain
operations, realize expected cost savings and maintain the
workforce needed for continued operations; risks associated with
complex, regulated manufacturing processes for pharmaceuticals,
which could affect whether we have sufficient commercial supply of
INBRIJA or AMPYRA to meet market demand; our reliance on
third-party manufacturers for the timely production of commercial
supplies of INBRIJA and AMPYRA; third-party payers (including
governmental agencies) may not reimburse for the use of INBRIJA or
AMPYRA at acceptable rates or at all and may impose restrictive
prior authorization requirements that limit or block prescriptions;
reliance on collaborators and distributors to commercialize INBRIJA
and AMPYRA outside the U.S.; our ability to satisfy our obligations
to distributors and collaboration partners outside the U.S.
relating to commercialization and supply of INBRIJA and AMPYRA;
competition for INBRIJA and AMPYRA, including increasing
competition and accompanying loss of revenues in the U.S. from
generic versions of AMPYRA (dalfampridine) following our loss of
patent exclusivity; the ability to realize the benefits anticipated
from acquisitions because, among other reasons, acquired
development programs are generally subject to all the risks
inherent in the drug development process and our knowledge of the
risks specifically relevant to acquired programs generally improves
over time; the risk of unfavorable results from future studies of
INBRIJA (levodopa inhalation powder) or from other research and
development programs, or any other acquired or in-licensed
programs; the occurrence of adverse safety events with our
products; the outcome (by judgment or settlement) and costs of
legal, administrative or regulatory proceedings, investigations or
inspections, including, without limitation, collective,
representative or class-action litigation; failure to protect our
intellectual property, to defend against the intellectual property
claims of others or to obtain third-party intellectual property
licenses needed for the commercialization of our products; and
failure to comply with regulatory requirements could result in
adverse action by regulatory agencies.
These and other risks are described in greater detail in our
filings with the Securities and Exchange Commission. We may not
actually achieve the goals or plans described in our
forward-looking statements, and investors should not place undue
reliance on these statements. Forward-looking statements made in
this press release are made only as of the date hereof, and we
disclaim any intent or obligation to update any forward-looking
statements as a result of developments occurring after the date of
this press release, except as may be required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221104005393/en/
Tierney Saccavino (917) 783-0251 tsaccavino@acorda.com
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