Forward Pharma (NASDAQ: FWP) ended the day down 19.9% while Acorda Therapeutics (NASDAQ: ACOR) didn’t fare any better, down 21.5%, after investors received word that the companies had lost separate patent battles.
A U.S. patent board ruled against Forward Pharma’s claim that Biogen‘s (NASDAQ: BIIB) multiple sclerosis drug Tecfidera infringed on patents held by Forward Pharma.