Alkermes Plc Stock Price, News & Analysis
Company Description
Alkermes plc (Nasdaq: ALKS) is a global biopharmaceutical company that focuses on developing medicines in the field of neuroscience. According to the company’s public disclosures, Alkermes has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder, and a pipeline of clinical and preclinical candidates in development for neurological disorders, including narcolepsy and idiopathic hypersomnia. The company is incorporated in Ireland and its ordinary shares trade on the Nasdaq Global Select Market under the ticker symbol ALKS.
Alkermes describes itself as a mid-cap growth and value equity company. It is headquartered in Ireland and reports that it maintains a corporate office and research and development center in Massachusetts and a manufacturing facility in Ohio. Through this footprint, Alkermes combines research, development, manufacturing and commercial capabilities to support its neuroscience-focused portfolio.
Business focus and therapeutic areas
The company’s stated goal is to develop medicines that address significant needs in neuroscience. Its commercial portfolio includes proprietary products used in the treatment of alcohol dependence and opioid dependence, as well as therapies for schizophrenia and bipolar I disorder. These therapeutic areas are highlighted repeatedly in Alkermes’ investor and news communications as core to its business.
In addition to its commercial products, Alkermes has a pipeline of clinical and preclinical candidates targeting neurological disorders. A key area of focus is central disorders of hypersomnolence, such as narcolepsy and idiopathic hypersomnia. The company has advanced multiple studies of alixorexton, an investigational compound, and has articulated a broader development strategy around orexin 2 receptor agonists.
Alixorexton and orexin pathway research
Alixorexton (formerly referred to as ALKS 2680) is described by Alkermes as a novel, investigational, oral, selective orexin 2 receptor (OX2R) agonist. Company press releases and related SEC filings state that alixorexton is in development as a once-daily treatment for narcolepsy type 1 (NT1), narcolepsy type 2 (NT2) and idiopathic hypersomnia (IH). Alkermes has reported positive phase 2 data from the Vibrance-1 study in NT1 and the Vibrance-2 study in NT2, and has indicated that alixorexton is being evaluated in the phase 2 Vibrance-3 study in IH.
In its public communications, Alkermes explains that orexin is a neuropeptide produced in the lateral hypothalamus and is considered a master regulator of wakefulness due to its activation of multiple downstream wake-promoting pathways. The company notes that targeting the orexin system may address excessive daytime sleepiness across hypersomnolence disorders, whether or not deficient orexin signaling is the underlying cause of disease. This scientific rationale underpins Alkermes’ investment in alixorexton and other orexin 2 receptor agonist candidates, such as ALKS 4510 and ALKS 7290, which the company has identified as being in phase 1 studies.
Commercial portfolio and royalties
Alkermes’ financial disclosures highlight revenues from proprietary products and from manufacturing and royalty arrangements. In its third quarter 2025 financial results, the company reported revenues from proprietary products including VIVITROL, ARISTADA (a term that the company uses to refer to ARISTADA and ARISTADA INITIO unless the context indicates otherwise) and LYBALVI. These products are aligned with the company’s focus on alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder.
The same financial report also references manufacturing and royalty revenues related to VUMERITY, and royalty revenues from XEPLION, INVEGA TRINZA/TREVICTA and INVEGA HAFYERA/BYANNLI. These disclosures indicate that Alkermes’ business model includes both direct proprietary product sales and revenues from collaborations or licensing arrangements where it manufactures products or receives royalties.
Strategic emphasis on sleep medicine and hypersomnolence
Alkermes has publicly described a strategic emphasis on becoming a leader in the treatment of central disorders of hypersomnolence. In connection with its reported financial results and transaction announcements, the company has highlighted alixorexton as a central component of this strategy. It has also described a proposed acquisition of Avadel Pharmaceuticals plc, a commercial-stage biopharmaceutical company with LUMRYZ, an FDA-approved once-at-bedtime oxybate product for narcolepsy, as an important element of its plan to expand in sleep medicine. The transaction agreement and subsequent amendment are discussed in detail in Alkermes’ Form 8-K filings.
According to these disclosures, the planned acquisition of Avadel is expected to augment Alkermes’ revenue growth profile and diversify its commercial portfolio with a high-growth product in sleep medicine, subject to completion of the transaction under the terms described in the transaction documents and related announcements. Alkermes has stated that Avadel’s commercial infrastructure and experience in rare disease could support the potential launch of alixorexton and the broader orexin 2 receptor agonist portfolio.
Geographic footprint and corporate structure
Alkermes is organized as a public limited company under the laws of Ireland. Its SEC filings list Ireland as the state or other jurisdiction of incorporation, and the company’s ordinary shares are registered under Section 12(b) of the Securities Exchange Act of 1934 and trade on the Nasdaq Global Select Market. The company states that it is headquartered in Ireland, with a corporate office and research and development center in Massachusetts and a manufacturing facility in Ohio. These locations are cited in multiple press releases and provide insight into the company’s operational footprint across research, development and manufacturing.
Financial reporting and investor communications
Alkermes regularly reports its financial results and other material events through press releases and Forms 8-K filed with the U.S. Securities and Exchange Commission. For example, the company has disclosed quarterly revenues, net income, EBITDA and adjusted EBITDA, as well as updates to its financial expectations for the year. It has also provided detailed information about research and development and selling, general and administrative expenses.
In addition to financial metrics, Alkermes uses its investor communications to describe progress in its development programs, including phase 2 study results for alixorexton and plans for a global phase 3 program in narcolepsy. The company also uses these channels to communicate about corporate transactions, such as the transaction agreement and subsequent amendment related to the proposed acquisition of Avadel Pharmaceuticals.
Regulatory and transaction disclosures
Alkermes’ SEC filings provide detailed descriptions of material agreements and financing arrangements. The company has filed a transaction agreement and an amendment to that agreement documenting the terms under which it proposes to acquire Avadel, including cash consideration per share and a non-transferable contingent value right linked to potential future regulatory milestones for LUMRYZ. It has also entered into an amended and restated bridge term loan credit agreement to provide a senior secured bridge term loan facility intended to finance the cash consideration and related fees and expenses for the acquisition, subject to specified conditions.
These filings outline conditions to completion of the acquisition, representations and warranties, covenants, termination rights and potential expense reimbursement obligations. They also describe certain financial covenants and security interests associated with the bridge credit facility. Alkermes emphasizes in these documents that the representations, warranties and covenants are made for the purposes of the agreements and may not reflect the current state of affairs at any given time.
Position within the pharmaceutical and biotechnology landscape
Within the broader pharmaceutical preparation manufacturing and biotechnology space, Alkermes characterizes itself as a global biopharmaceutical company with a neuroscience focus and a mix of commercial products and pipeline candidates. Its emphasis on alcohol and opioid dependence, schizophrenia, bipolar I disorder and central disorders of hypersomnolence defines its therapeutic scope as presented in its public communications. The company’s combination of proprietary products, manufacturing and royalty revenues, and late-stage development programs provides multiple dimensions for investors and other stakeholders to evaluate.
FAQs about Alkermes plc (ALKS)
- What does Alkermes plc do?
Alkermes plc is a global biopharmaceutical company focused on neuroscience. It has proprietary commercial products for alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder, and it is developing clinical and preclinical candidates for neurological disorders, including narcolepsy and idiopathic hypersomnia. - Where is Alkermes headquartered?
Alkermes states that it is headquartered in Ireland. The company also reports that it has a corporate office and research and development center in Massachusetts and a manufacturing facility in Ohio. - On which exchange does Alkermes trade and under what symbol?
Alkermes’ ordinary shares are listed on the Nasdaq Global Select Market under the ticker symbol ALKS, as disclosed in the company’s SEC filings. - What therapeutic areas are central to Alkermes’ commercial portfolio?
The company highlights proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder as core components of its portfolio. - What is alixorexton?
Alixorexton, formerly referred to as ALKS 2680, is described by Alkermes as a novel, investigational, oral, selective orexin 2 receptor agonist in development as a once-daily treatment for narcolepsy type 1, narcolepsy type 2 and idiopathic hypersomnia. The company has reported positive phase 2 results in NT1 and NT2 and is conducting additional studies. - How is Alkermes involved in sleep medicine and central disorders of hypersomnolence?
Alkermes has stated that it seeks to become a leader in the treatment of central disorders of hypersomnolence. Its development program for alixorexton and other orexin 2 receptor agonists, along with a proposed acquisition of Avadel Pharmaceuticals and its LUMRYZ product, are presented as key elements of this strategy. - What types of revenues does Alkermes report?
In its financial disclosures, Alkermes reports revenues from proprietary product sales, including VIVITROL, ARISTADA and LYBALVI, as well as manufacturing and royalty revenues related to products such as VUMERITY and certain Johnson & Johnson-affiliated brands. - What is the proposed acquisition of Avadel Pharmaceuticals plc?
Alkermes has entered into a transaction agreement, and later an amendment, under which it proposes to acquire Avadel Pharmaceuticals plc for cash consideration per share plus a non-transferable contingent value right tied to a potential future regulatory milestone for LUMRYZ. The transaction is subject to specified conditions, including shareholder and court approvals and regulatory clearances. - How does Alkermes communicate financial and clinical updates?
The company issues press releases and files Forms 8-K with the U.S. Securities and Exchange Commission to report quarterly financial results, updates to financial expectations, clinical trial milestones and material agreements. - What sector and industry classifications apply to Alkermes?
Alkermes operates within the manufacturing sector and is associated with pharmaceutical preparation manufacturing and biotechnology, with a specific focus on neuroscience-related therapeutics.