Trading halted on Acorda as FDA considers new MS drug

HAWTHORNE, N.Y. It’s been bad news lately for Acorda Therapeutics.

Last week, officials from the Food and Drug Administration said the company’s investigational multiple sclerosis drug Amaya (fampridine) had “very limited effect” in helping MS patients to walk, despite promising clinical trial results.

The FDA’s Peripheral and Central Nervous System Drugs Advisory Committee will meet Wednesday to review the drug.

Nevertheless, the committee’s meeting coincides with a halt in trading of the company’s stock on NASDAQ. The company’s stock fell by 18% on the news about Amaya last week and was worth $16.74 Wednesday afternoon.