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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 reported strong Q2 2024 financial results, with total revenues of $399.1 million. Net sales of proprietary products increased 16% year-over-year. The company achieved GAAP net income from continuing operations of $94.7 million and diluted GAAP earnings per share of $0.55. Key highlights include:
- LYBALVI revenues grew 52% to $71.4 million
- ARISTADA revenues reached $86.0 million
- VIVITROL revenues increased 10% to $111.9 million
- Cash position strengthened to $962.5 million
Alkermes reiterated its 2024 financial guidance and reported progress on its neuroscience pipeline, including positive results for ALKS 2680 in narcolepsy studies. The company remains focused on driving commercial performance and advancing its development programs.
Alkermes plc (Nasdaq: ALKS) has announced it will host a conference call and webcast on July 24, 2024, at 8:00 a.m. ET to discuss its second quarter financial results. The event will be accessible via the Investors section of Alkermes' website, with a replay available approximately two hours after completion. U.S. callers can dial +1 877 407 2988, while international callers should use +1 201 389 0923 to access the conference call.
Alkermes is a global biopharmaceutical company focused on developing innovative medicines in neuroscience. The company has commercial products for alcohol dependence, opioid dependence, schizophrenia, and bipolar I disorder, as well as a pipeline of candidates for neurological disorders, including narcolepsy.
Alkermes revealed data from a Phase 1b study of ALKS 2680, a novel orexin 2 receptor agonist, showing significant improvements in wakefulness in patients with narcolepsy type 1 (NT1). The study, presented at SLEEP 2024, demonstrated that ALKS 2680 significantly improved mean sleep latency compared to placebo across all doses. The drug was well-tolerated, with most adverse events being mild and transient. Additionally, the ongoing Phase 2 Vibrance-1 study will further evaluate the efficacy and safety of ALKS 2680 in NT1 patients. Initial results are encouraging, highlighting the potential of ALKS 2680 to address unmet needs in NT1 treatment.
Alkermes (Nasdaq: ALKS) announced its participation in two upcoming investor conferences. Management will present at the Jefferies Healthcare Conference on June 6, 2024, at 1:30 p.m. EDT and at the Goldman Sachs 45th Annual Global Healthcare Conference on June 11, 2024, at 10:40 a.m. EDT. The presentations will be webcast live and available under the Investors tab on Alkermes' website for 14 days. Alkermes is a biopharmaceutical company with a portfolio targeting alcohol and opioid dependence, schizophrenia, and bipolar I disorder, along with a pipeline for neurological disorders.
Alkermes announced plans to present three posters on ALKS 2680, a novel, investigational, oral orexin 2 receptor agonist, at SLEEP 2024, June 1-5 in Houston.
Key presentations include:
- Data from a phase 1b study of ALKS 2680 in narcolepsy type 1 (NT1) patients, evaluating safety and efficacy.
- Study design and methods for the Vibrance-1 phase 2 trial comparing ALKS 2680 with placebo in NT1 patients.
- Findings from interviews on the impact of narcolepsy on patients' lives.
Significant progress has been noted in the ALKS 2680 program, with proof-of-concept data validating the design hypothesis and initiating the Vibrance-1 phase 2 study.
Alkermes (Nasdaq: ALKS) announced the presentation of research related to its psychiatry franchise products, LYBALVI and ARISTADA, at four scientific conferences in Spring 2024. These conferences, held during Mental Health Awareness Month, include events like the APA Annual Meeting and ASCP Annual Meeting.
Key highlights include results from a long-term phase 3 study on LYBALVI's safety and efficacy and insights from healthcare resource utilization studies on ARISTADA. Alkermes aims to advance understanding and evidence for their psychiatric treatments targeting schizophrenia and bipolar I disorder.
Alkermes plc has completed the sale of its development and manufacturing facility in Athlone, Ireland to Novo Nordisk for approximately $91 million. The sale is part of Alkermes' program to drive operational efficiency and align its infrastructure with business needs. The transaction includes a subcontracting agreement with Novo Nordisk until the end of 2025, expected to be cost-neutral to Alkermes. Post-subcontracting, the sale is anticipated to provide significant operating cost benefits and enhance profitability. Alkermes will retain royalty revenues from products manufactured at the facility while continuing to produce its commercial products in Ohio.
Alkermes plc reported first-quarter 2024 financial results with revenues of $350.4 million, GAAP net income of $38.9 million, and diluted GAAP earnings per share of $0.23. They reiterated their 2024 financial expectations. The company highlighted prescription growth for LYBALVI® and progress with ALKS 2680 for narcolepsy treatment. Key financial highlights include total revenues, profitability, revenue growth for LYBALVI, ARISTADAi, VIVITROL, and royalty revenues. Operating expenses saw an increase due to investments. The company's balance sheet showed cash and total investments of $807.8 million. Alkermes confirmed its financial expectations for 2024 and recent events like new board member appointments, data presentations, and study initiations.
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