The phase III trial, which was the second of two pivotal trials being conducted by Acorda, enrolled 239 patients at about 39 centers in the United States and Canada. The company added that the results of this study were consistent with the first one.

Ampyra, which is yet to receive approval outside the US, is available in the US as a treatment for improving walking in MS patients.

The company recently reported better-than-expected third-quarter fiscal 2010 financial results on the back of Ampyra sales. The drug should continue seeing significant uptake going forward.

Neutral on Acorda

We currently have a long-term Neutral recommendation on Acorda, which is supported by a Zacks #3 Rank (short-term Hold rating). We expect investors to remain focused on the sales ramp-up of Ampyra and its approval in the EU.

Meanwhile, Acorda is looking to expand its portfolio by in-licensing a development or commercialization stage neurology product.