Acorda Therapeutics Announces Agreement for Sale of Manufacturing Operations and Long-Term Global Supply Agreement for INBRIJA®, Corporate Restructuring, and Enters into "At The Market" Offering Agreement
$80 million up-front payment will substantially increase cash balance
Sale, restructuring and other operating expense reductions will reduce annual operating expenses by approximately $40 million
Total 2021 non-GAAP operating expense guidance expected to be $130-$140 million1
At The Market (ATM) offering allows the sale of common stock at aggregate value up to $15.25 million
Supply agreement will ensure uninterrupted supply of INBRIJA (levodopa inhalation powder) to people with Parkinson’s