UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of Registrant as Specified in Its Charter)
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| |
||||
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s Telephone Number, Including Area Code:
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 |
Name of each exchange | ||
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 8.01 | Other Events. |
On March 10, 2023, Silicon Valley Bank (“SVB”) was closed by the California Department of Financial Protection and Innovation, which appointed the FDIC as receiver. As of March 13, 2023, we had approximately $8.3 million on deposit with SVB, which represented approximately 22% of our unrestricted cash and cash equivalents as of December 31, 2022. On March 12, 2023, federal regulators announced that the FDIC would complete its resolution of SVB in a manner that fully protects all depositors and on March 13, 2023, the FDIC announced that it had transferred all deposits of SVB to a new, FDIC-operated bridge bank in an action designed to protect all SVB depositors. We have subsequently transferred all funds that were deposited with SVB to a bank that we consider more stable and secure.
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. | ||||||
| March 16, 2023 | By: | /s/ Michael Gesser | ||||
| Name: Michael Gesser | ||||||
| Title: Chief Financial Officer and Treasurer | ||||||
Document and Entity Information |
Mar. 16, 2023 |
|---|---|
| Cover [Abstract] | |
| Entity Registrant Name | ACORDA THERAPEUTICS INC |
| Amendment Flag | false |
| Entity Central Index Key | 0001008848 |
| Document Type | 8-K |
| Document Period End Date | Mar. 16, 2023 |
| Entity Incorporation State Country Code | DE |
| Entity File Number | 001-31938 |
| Entity Tax Identification Number | 13-3831168 |
| Entity Address, Address Line One | 2 Blue Hill Plaza |
| Entity Address, Address Line Two | 3rd Floor |
| Entity Address, City or Town | Pearl River |
| Entity Address, State or Province | NY |
| Entity Address, Postal Zip Code | 10965 |
| City Area Code | (914) |
| Local Phone Number | 347-4300 |
| Written Communications | false |
| Soliciting Material | false |
| Pre Commencement Tender Offer | false |
| Pre Commencement Issuer Tender Offer | false |
| Security 12b Title | Common Stock, $0.001 par value per share |
| Trading Symbol | ACOR |
| Security Exchange Name | NASDAQ |
| Entity Emerging Growth Company | false |