Benzinga | Oct 20, 2020 11:17AM EDT

Why Acorda's Stock Is Trading Higher Today

Acorda Therapeutics (NASDAQ:ACOR) shares are trading higher on Tuesday after the company announced it has become entitled to receive a $15 million milestone payment from Biogen.

Acorda Therapeutics is a biopharmaceutical company focused on developing therapies that restore function and improve the lives of people with neurological disorders. Acorda uses scientific, clinical, and commercial expertise in neurology as strategic points of access in additional nervous system markets, including stroke, Parkinson's disease, and epilepsy. The company does not operate separate lines of business with respect to any of its products or product candidates. All of its net product revenue is derived from the United States.

Acorda Therapeutics shares traded up 69.06% to $1.17 on Tuesday. The stock has a 52-week high of $2.82 and a 52-week low of 42 cents.