NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky announces it has commenced an investigation of Acorda Therapeutics, Inc. (“Acorda Therapeutics” or the “Company”) (NASDAQ: ACOR) concerning possible violations of federal securities laws.
On August 29, 2017, Acorda announced that it had received a Refusal to File letter from the U.S. Food and Drug Administration (the “FDA”), which informed the Company that its New Drug Application for INBRIJA (CVT-301) “was not sufficiently complete to permit a substantive review.” Among the reasons for the refusal, the FDA cited the date the manufacturing site would be ready for inspection and a question regarding the submission of the drug master production record. The FDA has requested further information at resubmission. Following this news, shares of Acorda were down more than 24% on intraday trading on August 28, 2017. To obtain additional information, go to:
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