• Acorda Therapeutics Inc., of Hawthorne, N.Y., plans to publicly offer 2.67 million shares of common stock. An additional 83,000 shares will be offered by a stockholder, and the company plans to make another 412,500 shares available to cover any overallotments. J.P. Morgan Securities Inc. and Deustche Bank Securities are acting as joint bookrunning managers for the offering. Based on Acorda's Tuesday closing price of $26.33, the deal could generate $70.3 million, proceeds from which will be used for a second Phase II trial, regulatory and pre-launch activities for the multiple sclerosis drug Fampridine-SR. Shares of Acorda got a nice bump last month after a QT trial showed that Fampridine-SR did not increase the risk of cardiac arrhythmias. (See BioWorld Today, Jan. 29, 2008.)
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