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.
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.
Alkermes plc (Nasdaq: ALKS) announced on April 25, 2023, that it received a Second Interim Award from an arbitral tribunal regarding its license agreements with Janssen Pharmaceutica N.V.. The award mandates Janssen to pay approximately $194 million in back royalties related to fiscal year 2022. Key points include:
- Royalty terms for INVEGA SUSTENNA end on Aug. 20, 2024.
- INVEGA TRINZA royalties last until May 2030.
- INVEGA HAFYERA royalties expire in May 2030.
- CABENUVA royalties extend until Dec. 31, 2036.
The tribunal instructed both parties to confer within 21 days about further proceedings. The Second Interim Award follows a previous interim ruling that prevented Janssen from selling certain products without paying royalties.
NORTHAMPTON, MA / ACCESSWIRE / April 24, 2023 / Katie Joyce, Vice President of Corporate Affairs at Alkermes, recently participated in a panel discussion at the Women in Bio (WIB) Management Track event. This event allowed attendees to connect with influential women leaders in the life sciences sector, providing insights into their career journeys and unique experiences. The panel highlighted the importance of women in leadership roles within the industry, showcasing the diverse paths taken by these executives. For more information about Women In Bio, visit their website.
Alkermes plc (Nasdaq:ALKS) announced the opening of applications for its Alkermes Inspiration Grants program on May 1, 2023. The program aims to distribute $500,000 in total grants to nonprofit organizations addressing addiction, serious mental illness, and cancer. This marks the seventh year of the program, which evaluates proposals focused on underrepresented populations dealing with challenges such as alcohol dependence, opioid dependence, and certain cancers. Submissions will be accepted until June 1, 2023, with grant recipients selected based on defined criteria. Alkermes emphasizes its commitment to empowering communities and supporting organizations that complement medical care.
Alkermes reiterates its commitment to addressing Alcohol Use Disorder (AUD) during National Minority Health Month and Alcohol Awareness Month. The press release highlights the disproportionate impact of AUD on certain communities, underscoring the company's dedication to support individuals affected by this disorder. The emphasis is placed on the need for awareness and support as part of their ongoing efforts to combat AUD and promote health equity.
The company aims to foster a broader understanding of AUD's implications and the importance of targeted approaches in healthcare. Further details can be accessed through Alkermes' multimedia storytelling available online.
On April 19, 2023, Alkermes plc (NASDAQ: ALKS) announced a conference call and webcast scheduled for April 26, 2023, at 8:00 a.m. ET to discuss its first quarter financial results. Interested parties can access the event through Alkermes' website, with a replay available two hours post-event. Alkermes focuses on developing innovative medications in neuroscience and oncology, with products targeting alcohol and opioid dependence, schizophrenia, and bipolar I disorder. The company has a global presence with facilities in Ireland and the U.S. Investors can expect insights into the company's financial performance and future outlook during the call.
Alkermes plc (Nasdaq: ALKS) announced the opening of its Alkermes Inspiration Grants program, starting from May 1, 2023. The program, now in its seventh year, will allocate up to $500,000 in grants to support nonprofit organizations addressing issues related to addiction, serious mental illness, and cancer. CEO Richard Pops emphasized the importance of empowering nonprofits tackling complex health challenges. The grants will focus on programs that assist populations affected by alcohol dependence, opioid dependence, schizophrenia, bipolar I disorder, melanoma, or ovarian cancer. Eligible U.S. 501(c)(3) nonprofits can submit applications until June 1, 2023. For more details and application guidelines, visit Alkermes Inspiration Grants.
Alkermes plc (Nasdaq: ALKS) has submitted a confidential draft Form 10 registration statement to the U.S. Securities and Exchange Commission, marking a significant step in its planned separation of the oncology business into a publicly traded entity, Oncology Co. This separation, expected to be completed in the second half of 2023, aims to unlock shareholder value by creating focused operational structures for each business. The Board of Directors approved the split to enhance the profitability of its neuroscience segment while the oncology branch will continue developing cancer therapies, including nemvaleukin alfa. Alkermes has retained Morgan Stanley and BofA Securities for financial advice regarding this initiative, emphasizing its commitment to advancing its strategic focus.
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