Acorda Therapeutics Inc (ACORQ)

[surf1944]

7:01AM Acorda Therapeutics announces $2.67 mln Department of Defense contract to support study of AC105 in acute spinal cord injury (ACOR) 28.54 : Co announced that the U.S. Army Medical Research and Material Command has awarded the co a $2.67 mln research contract to support development of AC105, a propriety magnesium formulation being studied as a treatment for acute spinal cord injury (SCI). The contract will help support a Phase 2 clinical trial designed primarily to assess the safety and tolerability of AC105 in people with acute SCI. The co plans to open enrollment for this study in the first half of 2013. In preclinical studies, AC105 demonstrated neuroprotective properties and improvement of locomotor function in SCI when therapy was initiated within several hours of injury. The FDA granted Fast Track designation for AC105 to improve functional recovery of acute SCI patients. Co expects to apply for FDA orphan drug designation for the acute treatment of SCI and will explore orphan drug designations in Europe and in other parts of the world.