ACOR - Acorda gains on plans to become cashflow positive in 2023
- Acorda Therapeutics, Inc. ( NASDAQ: ACOR ), a biotech focused on neurological disorders, added over 25% on Thursday after announcing its long business strategy and financial guidance, including plans to become positive cash flow in 2023.
- Its ability to implement the strategy highly depends on the shareholder approval for the reverse stock split proposal that will be taken up at the upcoming stockholder meeting scheduled for November 04, Acorda ( ACOR ) said.
- In conjunction with the announcement, the company issued financial guidance until 2027, indicating $116.0M - $119.7M, $13.5 - $13.9, and $20.6M – $21.3M in net revenue, negative EBITDA, and negative cash flow for 2022, respectively.
- Acorda ( ACOR ) also projects positive EBITDA of $29.0M - $32.1M and positive cash flow of $9.7M - $10.7M for 2023.
- Early this month, Acorda ( ACOR ) shares surged on plans to withdraw a decision to raise the number of its authorized shares.
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Acorda gains on plans to become cashflow positive in 2023