Acorda Therapeutics Reports Second Quarter 2006 Financial Results
HAWTHORNE, N.Y.--(BUSINESS WIRE)--Aug. 3, 2006--Acorda Therapeutics(R) (Nasdaq: ACOR) today announced its financial results for the quarter ended June 30, 2006. Recognized Revenue Reported For the quarter ended June 30, 2006, gross sales were $3.9 million for Zanaflex Capsules(TM) (tizanidine hydrochloride) and $4.0 million for Zanaflex(R) (tizanidine hydrochloride) tablets. For the same quarter in 2005 we recognized gross sales of Zanaflex Capsules of $311,000 and gross sales of Zanaflex tablets of $167,000. Gross sales are recognized using a deferred revenue recognition model, where product shipments to wholesalers are recorded as deferred revenue, and later recognized as gross sales when end-user prescriptions are reported.