UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 12, 2019
 
Acorda Therapeutics, Inc.
(Exact name of Registrant as Specified in Its Charter)

Delaware	001-31938	13-3831168	
(State or Other Jurisdiction
of Incorporation)	(Commission File Number)	(IRS Employer
Identification No.)	
 	 	 	
420 Saw Mill River Road,
Ardsley, NY	 	10502	
(Address of Principal Executive Offices)	 	(Zip Code)	
Registrant’s Telephone Number, Including Area Code: (914) 347-4300
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
 
☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)	
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)	
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))	
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))	
Securities registered pursuant to Section 12(b) of the Act:
 
Title of each class	 	Trading
Symbol(s)	 	Name of each exchange on which registered	
Common Stock (Par Value $0.01)	 	ACOR	 	Nasdaq Global Market	
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Item 5.02 Departure of Directors or Certain Officers; Elections of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
 
On November 12, 2019, Acorda Therapeutics, Inc. (the “Company”) announced that Jane Wasman, the Company’s President, International & General Counsel and one of its named executive officers, will resign from the Company effective as of January 1, 2020.
 
The Company has entered into a consulting agreement with Ms. Wasman, effective as of January 1, 2020, pursuant to which she will provide certain consulting services to the Company, as requested by the Company, from January 1, 2020 through December 31, 2020, in consideration for cash compensation at an hourly rate and the Company’s agreement to modify Ms. Wasman’s outstanding stock options to allow for their continued vesting during the consultancy period, and exercise (subject to the applicable option exercise date) for 12 months thereafter. Ms. Wasman will also receive certain compensation and benefits to which she is entitled pursuant to her existing employment agreement with the Company.
 
Andrew Mayer, Deputy General Counsel, will assume responsibility for legal operations following the effective date of Ms. Wasman’s resignation.
 
A copy of the press release announcing Ms. Wasman’s resignation is attached as Exhibit 99.1 to this Current Report on Form 8-K, and incorporated by reference into this Item.
 
Item 9.01Financial Statements and Exhibits
 
(d) Exhibits

Exhibit No.
 	Description
 	
99.1	Press Release dated November 12, 2019	
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)	

 

 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 	Acorda Therapeutics, Inc.	
 	 	 	
November 12, 2019	By:	/s/ David Lawrence	
 	 	Name: David Lawrence	
 	 	Title: Chief, Business Operations and Principal Accounting Officer	

EXHIBIT 99.1

 
 
CONTACT:
Felicia Vonella
(914) 326-5146
fvonella@acorda.com
 
FOR IMMEDIATE RELEASE
 
Acorda Therapeutics Announces Departure of
President, International & General Counsel
 
ARDSLEY, NY – November 12, 2019 – Acorda Therapeutics, Inc. (Nasdaq: ACOR) today announced that Jane Wasman, President, International & General Counsel, is resigning from the company effective at the end of this year. Ms. Wasman plans to expand her role as a member of corporate boards, and to provide consulting services within the life sciences industry. She also will serve as a consultant to Acorda following her departure.
 
“Jane has contributed meaningfully to Acorda’s successes over the past 15 years. Her expertise and leadership have aided the company in its evolution throughout that time, as she headed functions ranging from legal to QA, international and strategic development,” said Ron Cohen, Acorda’s President and CEO. “While we will miss her, we support her entering a new phase of her career, and are delighted that she will continue an association with the company.”  
 
“I am proud to have been part of the team that grew Acorda from a private, clinical-stage company to a public, commercial company that has brought important new medicines to people suffering with Parkinson’s disease and multiple sclerosis,” Ms. Wasman said. “I am looking forward to the next chapter of my career focusing on boards and consulting, including with Acorda.”
 
Andrew Mayer, Acorda’s Deputy General Counsel, will assume responsibility for legal operations following Ms. Wasman’s departure.
 
About Acorda Therapeutics
Acorda Therapeutics develops therapies to restore function and improve the lives of people with neurological disorders. INBRIJA™ (levodopa inhalation powder) is approved for intermittent treatment of OFF episodes in adults with Parkinson’s disease treated with carbidopa/levodopa. INBRIJA is not to be used by patients who take or have taken a nonselective monoamine oxidase inhibitor such as phenelzine or tranylcypromine within the last two weeks. INBRIJA utilizes Acorda’s innovative ARCUS® pulmonary delivery system, a technology platform designed to deliver medication through inhalation. Acorda also markets the branded AMPYRA® (dalfampridine) Extended Release Tablets, 10 mg.
 
Forward-Looking Statements
This press release includes forward-looking statements. All statements, other than statements of historical facts, regarding management's expectations, beliefs, goals, plans or prospects should be considered forward-looking. These statements are subject to risks and uncertainties that could cause actual results to differ materially, including: we may not be able to successfully market Inbrija or any other products under development; risks associated with complex, regulated manufacturing processes for pharmaceuticals, which could affect whether we have sufficient commercial supply of Inbrija to meet market demand; third party payers (including governmental agencies) may not reimburse for the use of Inbrija or our other products at acceptable rates or at all and may impose restrictive prior authorization requirements that limit or block prescriptions; competition for Inbrija, Ampyra and other products we may develop and market in the future, including increasing competition and accompanying loss of revenues in the U.S. from generic versions of

Ampyra (dalfampridine) following our loss of patent exclusivity; the ability to realize the benefits anticipated from acquisitions, among other reasons because acquired development programs are generally subject to all the risks inherent in the drug development process and our knowledge of the risks specifically relevant to acquired programs generally improves over time; we may need to raise additional funds to finance our operations and may not be able to do so on acceptable terms; the risk of unfavorable results from future studies of Inbrija (levodopa inhalation powder) or from our other research and development programs, or any other acquired or in-licensed programs ; the occurrence of adverse safety events with our products; the outcome (by judgment or settlement) and costs of legal, administrative or regulatory proceedings, investigations or inspections, including, without limitation, collective, representative or class action litigation; failure to protect our intellectual property, to defend against the intellectual property claims of others or to obtain third party intellectual property licenses needed for the commercialization of our products; and failure to comply with regulatory requirements could result in adverse action by regulatory agencies.
 
These and other risks are described in greater detail in our filings with the Securities and Exchange Commission. We may not actually achieve the goals or plans described in our forward-looking statements, and investors should not place undue reliance on these statements. Forward-looking statements made in this press release are made only as of the date hereof, and we disclaim any intent or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.
 
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