Trou­bled Acor­da hur­ries to bar the door against a takeover at­tempt

With its stock price bat­tered by bad news and its CEO wob­bling per­ilous­ly halfway in­to a high wire res­cue act, Acor­da $ACOR has laid out a poi­son pill plan aimed at scar­ing off a po­ten­tial takeover at­tempt.

The news ar­rived the day af­ter Scopia Man­age­ment — al­ready push­ing for a sale — de­clared it held an 18.2% stake in the com­pa­ny. And that was filed with the SEC one day af­ter Acor­da told in­vestors that the FDA had spurned its ap­pli­ca­tion for CVT-301, which will throw off its time­line on ap­proval as it faces los­ing patent con­trol on its fran­chise drug Ampyra next sum­mer.

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