April 5, 2017 / 10:44 AM / a year ago

BRIEF-Acorda Therapeutics to cut 20 pct of workforce

April 5 (Reuters) - Acorda Therapeutics Inc

* Acorda Therapeutics implements corporate restructuring

* Acorda Therapeutics says corporate restructuring to reduce cost structure and focus resources on two late-stage programs, CVT-301 and Tozadenant

* Acorda Therapeutics says as part of restructuring, co is reducing headcount by about 20 percent

* Acorda Therapeutics says co expects to realize estimated annualized cost savings from reduction in personnel of about $21 million beginning in Q2 of 2017

* Acorda Therapeutics says estimates that it will incur about $7.6 million of pre-tax charges for severance and other costs related to restructuring

* Acorda Therapeutics says co plans to file a new drug application for CVT-301 with the FDA in the second quarter of 2017

* Acorda - adoption of restructuring plan follows invalidation of certain patents pertaining to Ampyra (dalfampridine) extended release tablets, 10 mg Source text for Eikon: Further company coverage:

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