EXHIBIT 99.1

CONTACT:

Felicia Vonella

Acorda Therapeutics

(914) 326-5146

fvonella@acorda.com

FOR IMMEDIATE RELEASE

Acorda Provides Financial and Pipeline Update for

Fourth Quarter and Year End 2016

ARDSLEY, N.Y. – February 14, 2017 – Acorda Therapeutics, Inc. (Nasdaq: ACOR) today provided a financial and pipeline update for the fourth quarter and full year ended December 31, 2016.

“The positive Phase 3 data from our pivotal trial of CVT-301 represents a major milestone for Acorda, potentially bringing an important new therapy to people with Parkinson’s,” said Ron Cohen, M.D., Acorda's President and CEO. “We plan to file a New Drug Application in the second quarter of 2017, pending the results of two long-term safety studies. Data from these studies are expected in the first quarter of 2017.”

“Our corporate priorities continue to be advancing our Phase 3 Parkinson’s programs and maximizing the value of AMPYRA.”

Financial Results - Quarter Ended December 31, 2016

The Company reported a GAAP net loss of $3.1 million for the quarter ended December 31, 2016, or $(0.07) per diluted share. GAAP net income in the same quarter of 2015 was $9.2 million, or $0.21 per diluted share.

Non-GAAP net income for the quarter ended December 31, 2016 was $2.5 million, or $0.05 per diluted share. Non-GAAP net income in the same quarter of 2015 was $13.8 million, or $0.31 per diluted share. This quarterly non-GAAP net income measure, more fully described below under “Non-GAAP Financial Measures,”  excludes share-based compensation charges, non-cash interest charges on our convertible debt, changes in the fair value of acquired contingent consideration and acquisition related

expenses. A reconciliation of the GAAP financial results to non-GAAP financial results is included with the attached financial statements.

AMPYRA^® (dalfampridine) Extended Release Tablets, 10 mg - For the quarter ended December 31, 2016, the Company reported AMPYRA net revenue of $132.3 million compared to $122.0 million for the same quarter in 2015, an increase of 8.4%.

ZANAFLEX CAPSULES^® (tizanidine hydrochloride), ZANAFLEX^® (tizanidine hydrochloride) tablets and authorized generic capsules - For the quarter ended December 31, 2016, the Company reported combined net revenue and royalties from ZANAFLEX and tizanidine of $2.3 million compared to $3.3 million for the same quarter in 2015.

FAMPYRA^® (prolonged-release fampridine tablets) - For the quarter ended December 31, 2016, the Company reported FAMPYRA royalties from sales outside of the U.S. of $2.7 million compared to $3.3 million for the same quarter in 2015.

Research and development (R&D) expenses for the quarter ended December 31, 2016 were $53.8 million, including $3.0 million of share-based compensation, compared to $44.0 million, including $2.2 million of share-based compensation, for the same quarter in 2015.

Sales, general and administrative (SG&A) expenses for the quarter ended December 31, 2016 were $59.0 million, including $6.0 million of share-based compensation and $0.4 million of acquisition costs, compared to $53.0 million, including $6.5 million of share-based compensation, for the same quarter in 2015.

Provision for income taxes for the quarter ended December 31, 2016 was $1.0 million compared to an $8.6 million benefit from income taxes for the same quarter in 2015.

Financial Results - Full Year Ended December 31, 2016

For the full year ended December 31, 2016, the Company reported a GAAP net loss of $34.6 million, or $(0.76) per diluted share. GAAP net income for the full year 2015 was $11.1 million, or $0.25 per diluted share.

Non-GAAP net income for the full year ended December 31, 2016 was $11.5 million, or $0.25 per diluted share. Non-GAAP net income for the full year ended December 31, 2015 was $32.3 million, or $0.74 per diluted share. This full year non-GAAP net income measure, more fully described below under “Non-GAAP Financial Measures,” excludes share-based compensation charges, non-cash interest charges on our convertible debt, changes in the fair value of acquired contingent consideration, acquisition related expenses, foreign currency transaction gain and the impact of a change in accounting policy for ZANAFLEX revenue recognition. A reconciliation of the GAAP financial results to non-GAAP financial results is included with the attached financial statements.

AMPYRA^® (dalfampridine) Extended Release Tablets, 10 mg - For the full year ended December 31, 2016 net revenue was $492.8 million compared to $436.9 million for full year 2015. Full year 2016 net revenue increased 12.8% over 2015.

ZANAFLEX CAPSULES^® (tizanidine hydrochloride), ZANAFLEX^® (tizanidine hydrochloride) tablets and authorized generic capsules - For the full year ended December 31, 2016 combined net revenue and royalties from ZANAFLEX and tizanidine were $3.4 million compared to $35.1 million for full year 2015. Net revenue for Zanaflex for the full year ended December 31, 2015 includes the impact of a one-time net adjustment of $22.2 million, representing the cumulative impact of the Company’s conversion from the sell-through to the sell-in method of revenue recognition.

FAMPYRA^® (prolonged-release fampridine tablets) - For the full year ended December 31, 2016, the Company reported FAMPYRA royalties from sales outside of the U.S. of $10.6 million compared to $10.5 million for the full year 2015.

Research and development (R&D) expenses for the full year ended December 31, 2016 were $203.4 million, including $10.6 million of share-based compensation, compared to $149.2 million, including $8.5 million of share-based compensation, for the full year 2015.

Sales, general and administrative (SG&A) expenses for the full year ended December 31, 2016 were $235.4 million, including $25.8 million of share-based compensation and $17.6 million of acquisition costs, compared to $205.6 million, including $25.0 million of share-based compensation, for the full year 2015.

Benefit from income taxes for the full year ended December 31, 2016 was $6.7 million compared to a provision for income taxes of $8.3 million for the full year 2015.

At December 31, 2016 the Company had cash and cash equivalents of $158.5 million.

Guidance for 2017

Fourth Quarter 2016 Highlights

Webcast and Conference Call

Acorda will host a conference call today at 8:30 a.m. ET to review the Company’s fourth quarter and full year 2016 results.

To participate in the conference call, please dial (844) 543-5233 (domestic) or (678) 276-7225 (international) and reference the access code 60207678. The presentation will be available via a live webcast on the Investors section of www.acorda.com.

A replay of the call will be available from 11:30 a.m. ET on February 14, 2017 until 11:59 p.m. ET on February 21, 2017. To access the replay, please dial (855) 859-2056 (domestic) or (404) 537-3406 (international) and reference the access code 60207678. The archived webcast will be available in the Investor Relations section of the Acorda website.

About Acorda Therapeutics

Founded in 1995, Acorda Therapeutics is a biopharmaceutical company focused on developing therapies that restore function and improve the lives of people with neurological disorders. Acorda has a pipeline of novel neurological therapies addressing a range of disorders, including Parkinson’s disease, migraine and multiple sclerosis. Acorda markets three FDA-approved therapies, including AMPYRA^® (dalfampridine) Extended Release Tablets, 10 mg.

Forward-Looking Statement

This press release includes forward-looking statements. All statements, other than statements of historical facts, regarding management's expectations, beliefs, goals, plans or prospects should be considered forward-looking. These statements are subject to risks and uncertainties that could cause actual results to differ materially, including:  the ability to realize the benefits anticipated from the Biotie and Civitas transactions, among other reasons because acquired development programs are generally subject to all the risks inherent in the drug development process and our knowledge of the risks specifically relevant to acquired programs generally improves over time; the ability to successfully integrate Biotie’s operations and Civitas’ operations, respectively, into our operations; we may need to raise additional funds to finance our expanded operations and may not be able to do so on acceptable terms; our ability to successfully market and sell Ampyra (dalfampridine) Extended Release Tablets, 10 mg in the U.S.; third party payers (including governmental agencies) may not reimburse for the use of Ampyra or our other products at acceptable rates or at all and may impose restrictive prior authorization requirements that limit or block prescriptions; the risk of unfavorable results from future studies of Ampyra or from our other research and development programs, including CVT-301 or any other acquired or in-licensed programs; we may not be able to complete development of, obtain regulatory approval for, or successfully market CVT-301, any other products under development, or the products that we acquired with the Biotie transaction; the occurrence of adverse safety events with our products; delays in obtaining or failure to obtain and maintain regulatory approval of or to successfully market Fampyra outside of the U.S. and our dependence on our collaborator Biogen in connection therewith; competition; failure to protect our

intellectual property, to defend against the intellectual property claims of others or to obtain third party intellectual property licenses needed for the commercialization of our products; and failure to comply with regulatory requirements could result in adverse action by regulatory agencies.

These and other risks are described in greater detail in our filings with the Securities and Exchange Commission. We may not actually achieve the goals or plans described in our forward-looking statements, and investors should not place undue reliance on these statements. Forward-looking statements made in this press release are made only as of the date hereof, and we disclaim any intent or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

Non-GAAP Financial Measures

This press release includes financial results prepared in accordance with accounting principles generally accepted in the United States (GAAP), and also certain historical and forward-looking non-GAAP financial measures. In particular, Acorda has provided non-GAAP net income, adjusted to exclude the items below, and has provided 2017 guidance for R&D and SG&A on a non-GAAP basis. Non-GAAP financial measures are not an alternative for financial measures prepared in accordance with GAAP. However, the Company believes the presentation of non-GAAP net income, when viewed in conjunction with our GAAP results, provides investors with a more meaningful understanding of our ongoing and projected operating performance because this measure excludes (i) non-cash charges and benefits that are substantially dependent on changes in the market price of our common stock, (ii) non-cash interest charges related to the accounting for our outstanding convertible debt which are in excess of the actual interest expense owing on such convertible debt as well as non-cash interest charges related to our asset based loan and acquired Biotie debt, (iii) changes in the fair value of acquired contingent consideration which do not correlate to our actual cash payment obligations in the relevant period, (iv) realized foreign currency transaction gain (v) acquisition related expenses that pertain to a non-recurring event, and (vi) the impact of a one-time change in accounting policy for Zanaflex revenue recognition due to a one-time, non-recurring event. The Company believes its non-GAAP net income measure helps indicate underlying trends in the Company's business and is important in comparing current results with prior period results and understanding projected operating performance.  Also, management uses this non-GAAP financial measure to establish budgets and operational goals, and to manage the Company's business and to evaluate its performance.

In addition to non-GAAP net income, we have provided 2017 guidance for R&D and SG&A on a non-GAAP basis. Due to the forward looking nature of this information, the amount of compensation charges and benefits needed to reconcile these measures to the most directly comparable GAAP financial measures is dependent on future changes in the market price of our common stock and is not available at this time.  The Company believes that these non-GAAP measures, when viewed in conjunction with our GAAP results, provide investors with a more meaningful understanding of our ongoing and

projected R&D and SG&A expenses.  Also, management uses these non-GAAP financial measures to establish budgets and operational goals, and to manage the Company's business and to evaluate its performance.

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Financial Statements

Acorda Therapeutics, Inc.

Condensed Consolidated Balance Sheet Data

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(unaudited)

Acorda Therapeutics, Inc.

Consolidated Statements of Operations

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(unaudited)

Acorda Therapeutics, Inc.

Non-GAAP Income and Income per Common Share Reconciliation

(in thousands, except per share amounts)

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