Delisting process takes some time. Time ACOR does not have. So not a real concern at this point,
$4.7M payment coming up for terminating Ardsley lease early. This can not be paid in shares so will take a good percentage of cash on hand.
CEO and COO raking in ~$2 million a year combined, 'running' a company with $12M Market Cap. This is near theft and further decimates cash on hand each month.
Upcoming interest payment will need to be paid in shares valued at about $1.00 each. So 6 million + shares will be issued, for a company with about 13 million shares outstanding currently. So close to 50% dilution in one fell swoop (and likely the main driver behind recent 50% share price drop....math is fun!!!). Process will repeat in 6 months, if ACOR makes it that long.
Nothing left to sell off to add cash to balance sheet to continue to pay employees, and no prospects whatsoever for obtaining additional capital from outside sources.
This company's slow death is picking up speed. There will be no merger. Anyone who wants anything ACOR has will be able to pick it up cheap when company dissolves and not have to deal with poison pill of keeping Acorda employees on payroll and paying RC and LS's salaries and benefits for two years.