Acorda Therapeutics, Inc. (NASDAQ:ACOR) Q3 2023 Earnings Call Transcript

We did not have the access to train the physicians and the other professionals in the office to train the patients, except online, which is fine, but it’s not a substitute for being there in person. And so, it was difficult. It was difficult to factor all that in. It’s been challenging. Now, I will say that over the last year or so, conditions have normalized or more or less normalized. And now we’re able to get data within a more typical environment that we’re feeding into our projection modules. And I expect that we will get better and better as we go along here in a more normal environment. With regard to accountability, if you look back and if you followed us or you want to check the previous proxies and 10-Ks, I believe you will find that the board has been very attentive to making sure that management is held accountable for performance to goals and to shareholder value.

And that they use incented compensation quite strongly, quite firmly to ensure that we’re being rewarded if we are doing, if we’re meeting goals or exceeding goals and that the opposite is true if we’re not. So that’s been the track record. I’ll also remind everyone that the entire management team owns stock in the company. And so to the extent that our performance is reflected in the stock price or the value of the company, that’s also incentivizing and to the extent that it’s not, that is also holding us accountable.

Tierney Saccavino: Thank you. And here is the last writing question that I have which is how is the company planning to address the 2024 notes?

Ron Cohen: Well, I touched on that toward the end of the presentation. We must, well, we have had an open, I think an open relationship with our convertible bondholders. I think it’s been a constructed relationship throughout and we are going to sit down and have the right conversations with them about how we can collaboratively arrive at the best solution for the stakeholders in the company.

Tierney Saccavino: Okay, thank you. And that is the last writing question. So operator, we can go ahead and close out the call.

Ron Cohen: All right, well, let me just thank everyone for joining us and we look forward to seeing you at the year-end call where we’ll have more information to give you.

Operator: That concludes the Accorda Therapeutics Third Quarter Financial and Business Update. Thank you for your participation. You may now disconnect your line.