News 12 Staff

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Apr 8, 2024, 12:36 PM

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Updated

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Pearl River's Acorda Therapeutics, a developer of therapies for neurological disorders such as Parkinson's disease, has announced its closure.

This decision will directly impact 97 employees, according to statements released by the company.

The company, known for its commitment to advancing treatments for challenging conditions, has filed for Chapter 11 bankruptcy. The closure comes despite recent negotiations for acquisition by Merz Therapeutics, signaling a shift in the company's trajectory.

Operations at Acorda are slated to wind down completely by June 15.