Welcome to our dedicated page for Alkermes Plc news (Ticker: ALKS), a resource for investors and traders seeking the latest updates and insights on Alkermes Plc stock.
Alkermes plc (Nasdaq: ALKS) is a global biopharmaceutical company focused on neuroscience, and its news flow reflects both commercial execution and clinical development in this area. Company announcements emphasize proprietary products for alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder, alongside a growing pipeline targeting neurological disorders such as narcolepsy and idiopathic hypersomnia.
Recent news has highlighted alixorexton, Alkermes investigational oral, selective orexin 2 receptor agonist. The company has reported positive phase 2 data from the Vibrance-1 study in narcolepsy type 1 and the Vibrance-2 study in narcolepsy type 2, and has announced that alixorexton is being evaluated in the Vibrance-3 study in idiopathic hypersomnia. In a separate update, Alkermes disclosed that the U.S. Food and Drug Administration granted Breakthrough Therapy designation to alixorexton for narcolepsy type 1, based on phase 1 and phase 2 data.
Investors following ALKS news will also see regular earnings releases, where the company reports quarterly revenues, net income, EBITDA and adjusted EBITDA, and provides updates to its financial expectations. These releases describe trends in proprietary product sales, including VIVITROL, ARISTADA and LYBALVI, and manufacturing and royalty revenues related to VUMERITY and certain long-acting antipsychotic products.
Another key theme in Alkermes news is corporate transactions and financing. The company has announced a transaction agreement, and later an amendment, to acquire Avadel Pharmaceuticals plc, adding LUMRYZ, an FDA-approved once-at-bedtime oxybate for narcolepsy, to its commercial portfolio if the transaction is completed. Related filings describe an amended and restated bridge term loan credit agreement designed to support financing of the proposed acquisition.
Visitors to the ALKS news page can expect updates on clinical trial milestones, regulatory designations, quarterly financial performance, investor conference participation and material corporate agreements. This mix of scientific, financial and strategic information provides context for understanding Alkermes evolving position in neuroscience and sleep medicine.
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Alkermes emphasizes the importance of clinical trials for patients with platinum-resistant ovarian cancer (PROC), a group facing high morbidity and limited treatment options.
In a recent press release, the company highlights that these trials are essential for discovering new therapies to improve patient outcomes. With current treatment options being scarce, the research conducted through clinical trials is critical in advancing the understanding of PROC and potentially leading to new solutions.
The pressing need for additional treatment avenues underscores the role of innovative research in addressing significant healthcare challenges.
Alkermes plc (Nasdaq: ALKS) reported first-quarter 2023 revenues of $287.6 million, a 3.9% increase from $278.5 million in Q1 2022. The growth is attributed to a remarkable 25% surge in net sales of proprietary products, totaling $214.7 million. Notably, LYBALVI's sales jumped 173% to $38 million, while VIVITROL and ARISTADA saw increases of 14% and 10%, respectively. Despite these positives, the company reported a GAAP loss per share of $0.25 compared to $0.22 the previous year. Alkermes reiterated its financial expectations for 2023 and is on track for the planned separation of its oncology business in H2 2023. Additionally, Alkermes received a favorable arbitration ruling regarding royalties, amounting to $194 million.