The Journal News from White Plains, New York • Page 22

A Business LoHud.com IOC Monday, June 4, 2007 The Journal News Acorda pursues MS drug JV IV Arn UP TO 24 F.10MTHS AVAILABLE! ACORDA, from 9C tablet Acorda introduced Zanaflex capsules in April 2005 and sold $5.9 million worth that year. Last year, sales rose to $26.5 million. Already in the first quarter, sales were $7.6 million. Acorda hopes to double Zanaflex capsule sales this year. Even so, like most biotech startups, Acorda has yet to turn a profit The company lost $24 million, or $3.27 a share, on revenues of $26.9 million last year.

Acorda spent $12 million on research and development in 2006. Investment advisory firm Cowen and Co. predicts that Acorda could become profitable in 2011 if clinical trials of Fampri-dine-SR go well and the drug is introduced into the market in 2009. Cowen and Co. projects Fampri-dine-SR sales could be $120 million in 2011.

A key strategy to prepare for Fam-pridine-SR is to build a sales force for Zanaflex capsules, a drug that's prescribed by the same doctors who would be likely to recommend Fam-pridine-SR to their patients. Acorda routinely invites patients, advocates and caregivers into its offices to talk about their concerns and needs with employees, Cohen said. "We have patients come into the company to give talks about their experiences and what the drug has done for them. So people in the company have a visceral emotional response," Cohen said. He personally attends patient advocacy meetings and is active with MS, spinal cord injury and neurological groups.

Every year, the company sponsors the MS walk in Westchester, and nearly all employees participate and wear T-shirts that humorously address Acorda's work, like "We go the extra myelin." "I committed my life to it 13 years ago, and for me it's a labor of love. What gets me up in the morning is going to work on novel therapies for people who have an unmet need," he said. "Building Acorda into a leading neurotherapeutic company is my goal." Reach Julie Moran Alterio at jalteriolohud.com or 914-694-5228. Acorda recently doubled the size of its internal sales force to 65 people to target the 7,400 top-prescribing neurologists. "This was a strategic move.

Zanaflex capsules by themselves are not a big enough product to support the entire company. What they do is give us the ability to field a professional commercial sales force and gain the experience that we need to market successfully in the pharmaceutical space," Cohen said. Eventually, Cohen hopes that the company will be able to bring its other product candidates into the clinical testing phase. Those include antibodies that have the potential to remyelinate damaged nerves and an enzyme that could allow nerves to regenerate after a spinal cord or brain injury. The potential for those therapies if they prove as effective in humans as they are promising in the lab keeps Cohen and others at Acorda dedicated to their work, he said.

"People always ask me, 'Do you miss My answer is, 'No, I don't because I feel I still am, just in a different Cohen said. Daytime ftmnj Ughts (DJ AnlHock braking system (ABS) Becttric Brake ttstrtuton (EBO) Front site arbags passenger-side Octupart total Detection System (OPDS) Side art artags One-fcuch power rroonroof i feature Steenng wreel-mcunled arfccrjse art Seaiity system wlfi remote entry and trunk opener 350-wattAMTOOYI ReaoyOT) premium audn SYSw7speaKersitrtrirsuhwoter Honda Sateie-Unked Navigation System" voice HARDLY USED 2007 CIVIC EX 2DR WITH HONDA SATELLITE -UNKED NAVIGATION necogrrton and 65" customizable touch screen, frb ffSi SAVE s6656 sr6" $0 I OFF MSRP BUY FOR 244-hp, 3.0-Her 24-vahe SOHC VTEO V-6 engra 5-speed automate irorissiori Front s3e artacp passenger-side Occupant Aston Detection System (OPOS) Side curtain arbags WHock braking system (ABS) Daytime Rurmg Lie (DfiL) Poswr moonrool witri rjt teatLre lieLeadership 'o, '7 ji fey ri'-m Illy t. 1 7" altoy wheels FJody-cotored heated power srie rmrrors BuminatBd steering wheel-mounted miseaudto controls LBather-tnmmed seats and doa panel nserts Heated front seats HARDLY USED 2007 ACCORD EX-L V6 4DR 1 20-watt MATMB dec iKJasti CTJ changef aurio system with 6 speakers fOWvE '7376 MSPP C7 995 Model Co KM6657JNW SM7CB133nto OFF MSRP Other top officers Andrew R. Blight, Ph.D., 56, chief scientific officer. 2006 compensation: $629,042.

Shares: 154,209. Mary Fisher, 45, chief operating officer. 2006 compensation: $1,084,242. Shares: 174,507. Jane Wasman, 50, executive vice president, general counsel and secretary.

2006 compensation: $660,506. Shares: 48,024. David Lawrence, 49, chief financial officer. 2006 compensation: $628,724. Shares: 90,667.

engaged in the growth of human organ tissues for transplantation uses. Education: Bachelor's degree in psychology from Princeton University and a medical degree from the Columbia College of Physicians and Surgeons. He completed a residency in internal medicine at the University of Virginia Medical Center and is board certified in internal medicine. Personal: married, two children Residence: Irvington Dr. Ron Cohen Title: president and chief executive officer Age: 51 2006 compensation: $1,411,222, including salary, bonus, stock and option awards Shares: 712,752, or 3 percent of company Background: Cohen founded Acorda in 1995.

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"Honda vehicles are expected to retain nearly of their original retail price after fcfive years of ownership. That's according to Kelley Blue Book's latest survey for 2007 model year vehicles. Honda has now edged past Performance j- rmnMii: HOW MUCH IS YOUR CAR WORTH? The Journal News The stock Last: $19.70 52-week high: $26.58 52-week low: $2.20 YTD change: Up 24.37 percent PE: NA Avg volume: 369,345 Annual dividend: None 2007 EPS (estimated): a loss of $1.42 Analysts' advice: 5 buys, 3 holds, 1 sell Net revenue (in millions of dollars) 2005 $4.8 million 2006 $26.9 million Net loss (in millions of dollars) 2005 million 2006 million Sources: The Journal News research, Acorda Therapeutics Bloomberg News wim iw'is notm CERTIFIED HONDA SHOWROOM 61 mm mm If you had bought 1,000 shares of Acorda Therapeutics Inc. on Feb. 28, 2006, you would have paid $6,200.

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