Strug­gling Acor­da team brings out the axe — yet again — to chop away at costs as sales sput­ter

With its mar­ket val­ue mired deep in the cel­lar of mi­cro­cap stocks and its fran­chise drug strug­gling to gain trac­tion, Acor­da CEO Ron Co­hen is once again bring­ing out the bud­get ax to chop away at what re­mains of the once high-fly­ing biotech.

Acor­da is now let­ting go 15% of the re­main­ing staff — there’s no head count on that — with plans to start ad­di­tion­al out­sourc­ing. Com­bin­ing those cuts should de­liv­er $20 mil­lion in an­nu­al sav­ings as the biotech looks to stop the chron­ic flow of red ink.

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