Acorda To Stop Development Of PLUMIAZ Nasal Spray For Epilepsy Seizure Clusters

(RTTNews) - Biotechnology company Acorda Therapeutics Inc. (ACOR) announced Friday that it will discontinue development of PLUMIAZTM (diazepam) Nasal Spray, an investigational therapy being studied for the treatment of seizure clusters in people with epilepsy.

In pre-market activity on Nasdaq, Acorda shares were losing 2.37 percent at $25.10.

The company noted that data from the ongoing clinical trials do not demonstrate its bioequivalence to Diastat rectal gel, needed to re-file the New Drug Application or NDA.

Specifically, the data demonstrated unexpectedly lower nasal mucosa absorption of diazepam in persons with epilepsy compared to studies in healthy volunteers.

Acorda said it is in communication with study investigators to discontinue all ongoing clinical trials and assist in the transition of study participants.

The Company will present the data at a future medical meeting.

Ron Cohen, Acorda's President and CEO, said, "We are very disappointed by this outcome, and for those in the epilepsy community who experience seizure clusters.... We will continue to focus on development of our other high potential pipeline programs, including CVT-301 and tozadenant for Parkinson's disease, and dalfampridine for post-stroke walking difficulty."