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Alkermes Inc. plc (NASDAQ: ALKS) is a global biopharmaceutical company dedicated to developing innovative medicines for treating central nervous system (CNS) diseases. Headquartered in Dublin, Ireland, Alkermes has a significant presence in the United States with a research and development center in Waltham, Massachusetts, and a manufacturing facility in Wilmington, Ohio. The company’s mission is to leverage its proprietary technologies to create and commercialize pharmaceutical products that address unmet medical needs in conditions such as schizophrenia, depression, addiction, and multiple sclerosis.
Alkermes’ diversified product portfolio includes notable medications like LYBALVI®, ARISTADA®, and VIVITROL®. These products are pivotal in the treatment of mental health disorders and substance abuse, demonstrating the company's commitment to enhancing patient outcomes. LYBALVI®, a combination of olanzapine and samidorphan, is used for treating schizophrenia and bipolar I disorder. ARISTADA® is an extended-release injectable suspension for schizophrenia, and VIVITROL® is used for alcohol and opioid dependence.
The company's robust clinical pipeline features breakthrough candidates such as ALKS 2680, an investigational orexin 2 receptor agonist targeting narcolepsy. Recent study results announced in early 2024 have shown promising improvements in wakefulness for patients with narcolepsy type 2 and idiopathic hypersomnia, validating the potential of ALKS 2680 to address critical gaps in treatment.
Alkermes has also engaged in significant corporate developments, including the sale of its Athlone, Ireland facility to Novo Nordisk, aimed at increasing operational efficiency. Financially, the company reported total revenues of $1.66 billion for 2023, with a net income of $356 million, emphasizing strong growth and profitability. The company's strategic focus on neuroscience and operational efficiency is expected to drive sustained profitability and innovation in treating CNS disorders.
For more detailed information about Alkermes’ products, clinical trials, and corporate strategies, you can visit their official website at www.alkermes.com.
Alkermes plc (Nasdaq: ALKS) presented significant research findings at the Psych Congress from Sept. 17 to Sept. 20, aimed at advancing knowledge in serious mental illnesses, particularly schizophrenia and bipolar I disorder. Highlights included studies on Olanzapine/Samidorphan and long-acting injectables. Chief Medical Officer Craig Hopkinson emphasized the company's dedication to mental health research, looking forward to ongoing collaborations. Alkermes maintains a strong focus on developing innovative treatments for mental health disorders.
Alkermes plc (Nasdaq: ALKS) reported second-quarter 2022 revenues of $276.2 million, down from $303.7 million year-over-year. Proprietary product net sales increased to $190.8 million, driven by VIVITROL and ARISTADA. However, GAAP loss per share was $0.18, compared to a gain of $0.01 in the prior year. The company raised its full-year revenue expectations to $1,050 - $1,120 million, largely due to the successful launch of LYBALVI. Operating expenses rose to $310.7 million, reflecting increased investments.
Alkermes plc (Nasdaq: ALKS) will host a conference call on July 27, 2022 at 8:00 a.m. ET to discuss its second quarter financial results and provide updates on company progress. Interested parties can access the webcast via Alkermes' website, with a replay available two hours post-event. Alkermes focuses on developing medicines in neuroscience and oncology, with a portfolio addressing conditions such as alcohol and opioid dependence, schizophrenia, and bipolar I disorder.
Alkermes plc (Nasdaq: ALKS) reported the results of its 2022 Annual General Meeting held on July 7, 2022. All four nominees for the Board of Directors were re-elected with over 97% of shareholder votes. Additionally, the advisory vote on executive officer compensation passed with over 86% approval. Lead Independent Director Nancy J. Wysenski emphasized the strong support for the Board's refreshment efforts, highlighting the company's focus on strategic priorities and operational execution aimed at driving growth and shareholder value. Full vote results will be disclosed via SEC filing.
Sarissa Capital Management expresses concern over the influence of CEO Richard Pops on Alkermes' board. Despite Alkermes' revenues exceeding $1 billion, they report consistent net losses and a nearly 60% stock price drop over five years, underperforming the IBB by 130%. Sarissa supports newly appointed directors and plans to vote for their slate at the upcoming annual meeting. If a Sarissa representative is not appointed soon, they may pursue action under Irish law to replace certain board members to act in shareholders' best interests.
Alkermes plc (Nasdaq: ALKS) announced its participation in the Goldman Sachs 43rd Annual Global Healthcare Conference on June 15, 2022, at 2:40 p.m. PT (5:40 p.m. ET). The event will include a fireside chat with management, accessible via a live webcast on the company’s website and archived for 14 days. Alkermes, headquartered in Dublin, focuses on developing innovative medicines in neuroscience and oncology, with products for conditions like alcohol and opioid dependence, schizophrenia, and more.
Alkermes plc (Nasdaq: ALKS) is set to accept applications for its Alkermes Inspiration Grants program starting June 15, 2022. The program aims to distribute up to $500,000 in grants to nonprofit organizations focused on addressing the needs of individuals affected by addiction, serious mental illness, or cancer. This year's focus is on innovative programs targeting unmet needs, particularly in historically under-resourced communities. Eligible organizations can submit applications until July 15, 2022. More details are available on Alkermes' official website.
Alkermes plc (Nasdaq: ALKS) announced participation in a fireside chat at the Jefferies Healthcare Conference on June 8, 2022, at 2:30 p.m. ET. The event will be accessible via live webcast on Alkermes' website and archived for 14 days. Alkermes is a global biopharmaceutical firm focused on innovative treatments for conditions like alcohol and opioid dependence, schizophrenia, and bipolar I disorder. Headquartered in Dublin, Ireland, the company also has facilities in Massachusetts, Ohio, and Ireland.
Alkermes plc (Nasdaq: ALKS) is set to present positive data from the ARTISTRY-1 clinical trial, showcasing the anti-tumor activity of nemvaleukin as both a monotherapy and in combination with pembrolizumab (KEYTRUDA®). This phase 1/2 study revealed significant responses in difficult-to-treat tumors, including melanoma and renal cell carcinoma. The company will host an investor webcast on June 6, 2022, to discuss these findings further, emphasizing the potential for nemvaleukin in improving cancer therapy outcomes.
Sarissa Capital Management expresses serious concerns over the corporate governance of Alkermes (NASDAQ: ALKS), claiming the board is heavily influenced by CEO Richard Pops, who they allege has caused significant shareholder value destruction over 30 years. In a statement, Sarissa criticized the abrupt ending of discussions about director nominations and highlighted the board's neglect of shareholder interests. Despite Alkermes achieving over $1 billion in revenue from 2017-2021, the company consistently operated at a net loss while underperforming the IBB index by 130%.
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