By Sheri Kasprzak
New York, Oct. 4 - Acorda Therapeutics, Inc. is gearing up to close a $31.5 million private placement.
The shares in the deal are being sold at $9.75 each, but the exact number of shares being sold could not be determined by press time Wednesday.
Proceeds from the deal will be used for sales and marketing activities, for clinical and preclinical programs and for working capital and general corporate purposes.
Located in Hawthorne, N.Y., Acorda is a biopharmaceutical company focused on treatments for multiple sclerosis, spinal cord injuries and nervous system disorders.
| Issuer: | Acorda Therapeutics, Inc.
|
| Issue: | Stock
|
| Amount: | $31.5 million
|
| Price: | $9.75
|
| Warrants: | No
|
| Announcement date: | Oct. 4
|
| Stock symbol: | Nasdaq: ACOR
|
| Stock price: | $10.50 at close Oct. 4
|
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