Following two successful Phase III studies last year, Acorda Therapeutics Inc. submitted its new drug application as expected for Fampridine-SR, hoping to gain approval of the first drug specifically aimed at improving walking ability in patients with multiple sclerosis. (BioWorld Today)

With negotiations seemingly at a stand-still six months after Genentech Inc. rejected as too low a $44 billion buyout offer from majority holder Roche Holdings AG, the Swiss drugmaker clearly hopes to set the deal back in motion, but analysts say it's doubtful the biotech's minority shareholders will be amenable to a reduced bid. (BioWorld Today)

By gaining the FDA's blessing for the first clinical trial of an embryonic stem cell (ESC)-based therapy, Geron Corp. injected a newfound enthusiasm for the space, helped, in part, by the anticipated loosening of federal funding restrictions by the newly sworn in Obama administration.

The faltering economy continues to take its toll on the industry, with Sepracor Inc. becoming the latest firm to make difficult staff cuts, while Synvista Therapeutics Inc. found itself without sufficient cash to complete ongoing clinical trials. (BioWorld Today)