• AMAG Pharmaceuticals Inc., of Lexington, Mass., announced a major restructuring during its third-quarter 2011 earnings. President and CEO Brian Pereira resigned, as did Chief Commercial Officer Gary Zieziula. Chief Financial Officer Frank Thomas was appointed chief operating officer and will serve as interim CEO, supported by a board committee. AMAG also plans to reduce its workforce by 25 percent, which is expected to decrease operating expenses by $20 million to $25 million in 2012. For the third quarter, AMAG posted revenues of $17.6 million, narrowly beating the $16.2 million analysts had expected. Sales of Feraheme (ferumoxytol), for iron deficiency anemia, were $15.6 million. The third quarter net loss was $16.6 million, or 78 cents per share. AMAG had $251 million in cash, equivalents and investments as of Sept. 30. Investors, pleased to see a management shake-up following the failed merger attempt with Allos Therapeutics Inc., pushed shares (NASDAQ:AMAG) up $2.46, or 18 percent, to close at $16.20. (See BioWorld Today, July 21, 2011.)

• Acorda Therapeutics Inc., of Hawthorne, N.Y., reported third quarter 2011 revenues of $93 million, edging ahead of analyst estimates of $91 million. Revenues from Ampyra (dalfampridine) for multiple sclerosis mobility were $54.7 million, also just ahead of expectations. Acorda's GAAP net income for the third quarter was $18.9 million, or 47 cents per share. The firm had $268.8 million in cash, equivalents and investments as of Sept. 30. Analysts were pleased to see Ampyra keeping pace with expectations, and shares (NASDAQ:ACOR) gained $2.63, or 13 percent, to close at $23.08 on Friday.

• Optimer Pharmaceuticals Inc., of San Diego, reported $11.1 million in third-quarter 2011 revenues, handily beating analyst estimates of $5.4 million. Net sales of Dificid (fidaxomicin) in Clostridium difficile infection were $10.6 million. Optimer's net loss for the third quarter was $26.4 million, or 57 cents per share, greater than the 52 cents per share analysts had expected. The company reported $129.4 million in cash, equivalents and investments as of Sept. 30, but it separately filed a shelf registration statement to raise up to $200 million, and the prospect of dilution sent shares (NASDAQ:OPTR) down $2.26, or 15 percent, to close at $12.38 on Friday.