Acorda made great progress in 2013. Among the company's most notable accomplishments were:

• AMPYRA^® (dalfampridine) Extended Release Tablets, 10 mg net sales increased 13.7% over 2012, to $302 million
• Our intellectual property around AMPYRA was further strengthened with the issuance of two additional patents in 2013 and a third in early 2014 that are Orange Book-listed
• We obtained positive Phase 2 data for dalfampridine-QD in post-stroke walking deficits
• We filed a New Drug Application (NDA) for PLUMIAZ™ (diazepam) Nasal Spray to treat cluster seizures
• We acquired an in-market product, QUTENZA^® (capsaicin) 8% patch, and a second generation Phase 3-ready neuropathic pain product, NP-1998
• We initiated clinical trials for GGF2 in chronic heart failure, rHIgM22 for myelin repair in multiple sclerosis, and AC105 for neuroprotection in acute spinal cord injury

We now have a total of six clinical and/or NDA-stage programs, comprising one of the most interesting pipelines in the neurology space.

Acorda's goal is to create a diverse portfolio of marketed products and development programs that create both significant near-term value and intermediate and longer-term opportunities for further value accretion. To highlight just three of several key initiatives for 2014, we are continuing to take steps to prepare for the potential approval of PLUMIAZ, planning to begin a Phase 3 clinical trial of a new, once-daily formulation of dalfampridine (dalfampridine-QD) in post-stroke walking deficits, and determining the most efficient development pathway for NP-1998, which we believe has the potential to be a standard of care for neuropathic pain from various causes.

We ended 2013 in a strong financial position, with over $335 million in annual net revenue, $367 million in cash and negligible debt.

We expect revenue to continue to grow in 2014, and intend to use our financial strength to invest in our promising pipeline and to acquire additional products. We are emphasizing products that leverage our key competitive advantages: our deep scientific and drug development expertise in neurology, and our outstanding commercial expertise and infrastructure in both neurology and specialty pharmaceuticals.

We are excited about the year ahead. On behalf of all Acorda's associates and our Board of Directors, thank you for your continued support. I look forward to updating you on our progress over the course of the year.