Core Points - Alkermes plc announced the opening of applications for the 7th annual Alkermes Pathways Research Awards program, which will accept applications from September 20, 2024, to November 30, 2024 [1] - The program aims to support early-career researchers focused on advancing understanding of schizophrenia and bipolar disorder, offering grants of up to $100,000 per project [1][4] - Since its inception in 2018, the program has awarded approximately $2.5 million to 25 researchers, leading to multiple journal publications and presentations [5] Program Details - The Alkermes Pathways Research Awards program is designed for early-career investigators who are M.D.s, Ph.D.s, or equivalent, within five years of their initial academic appointment or current post-doctoral fellows affiliated with U.S. medical or research institutions [4] - An independent review committee of specialists in relevant fields will evaluate the applications [4] - The program has been recognized for its impact on supporting researchers, with some recipients obtaining additional funding from the NIH based on their Pathways-funded research [3] Company Overview - Alkermes plc is a global biopharmaceutical company focused on developing innovative medicines in neuroscience, with a portfolio addressing alcohol dependence, opioid dependence, schizophrenia, and bipolar I disorder [6] - The company is headquartered in Ireland, with additional offices and facilities in Massachusetts and Ohio [6]

DUBLIN, Aug. 28, 2024  /PRNewswire/ -- Alkermes plc (Nasdaq: ALKS) announced today that management will participate in a fireside chat presentation at the Morgan Stanley 22nd Annual Global Healthcare Conference on Wednesday, Sept. 4, 2024 at 2:35 p.m. EDT (7:35 p.m. BST). The live webcast may be accessed under the Investors tab on www.alkermes.com and will be archived for 14 days.About Alkermes plcAlkermes plc is a global biopharmaceutical company that seeks to develop innovative medicines in the field of n ...

Alkermes plc (ALKS) announced the initiation of the phase II Vibrance-2 study, evaluating its novel, investigational, oral orexin 2 receptor agonist ALKS 2680 in adults with narcolepsy type 2 (NT2).The double-blind, placebo-controlled study will evaluate the safety and efficacy of ALKS 2680 as compared to placebo in adults with NT2. The primary endpoint of the Vibrance-2 study will check whether treatment with ALKS 2680 leads to a greater decrease in sleepiness versus placebo, as measured by the change in m ...

DUBLIN, Aug. 22, 2024 /PRNewswire/ -- Alkermes plc (Nasdaq: ALKS) today announced initiation of the Vibrance-2 study, a phase 2 clinical trial evaluating the safety and efficacy of ALKS 2680 compared to placebo in adults with narcolepsy type 2 (NT2). ALKS 2680 is the company's novel, investigational, oral, selective orexin 2 receptor (OX2R) agonist in development as a once-daily treatment for narcolepsy, a chronic, neurological disorder characterized by excessive daytime sleepiness."We are pleased to initia ...

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Core Insights - Zacks Premium provides tools for investors to enhance their stock market strategies, including daily updates, research reports, and stock screens [1][2]. Zacks Style Scores - Zacks Style Scores rate stocks based on value, growth, and momentum, helping investors identify securities likely to outperform the market in the short term [2][3]. - Stocks are rated from A to F, with A indicating the highest potential for outperformance [2]. Value Score - The Value Score focuses on identifying undervalued stocks using metrics like P/E, PEG, Price/Sales, and Price/Cash Flow [2]. Growth Score - The Growth Score assesses a company's future prospects by analyzing projected and historical earnings, sales, and cash flow [3]. Momentum Score - The Momentum Score evaluates stocks based on price trends and earnings outlook, helping investors capitalize on upward or downward price movements [3]. VGM Score - The VGM Score combines all three Style Scores, providing a comprehensive indicator for investors who utilize multiple investing strategies [4]. Zacks Rank - The Zacks Rank is a proprietary model that uses earnings estimate revisions to identify stocks with high potential returns, with 1 (Strong Buy) stocks averaging a 25.41% annual return since 1988 [5][6]. - Investors are encouraged to focus on stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B for optimal investment opportunities [6]. Company Spotlight: Alkermes (ALKS) - Alkermes plc is a biopharmaceutical company focused on developing treatments for central nervous system disorders, formed from a merger in 2011 [7]. - The company currently holds a Zacks Rank of 3 (Hold) and a VGM Score of A, indicating solid performance potential [7][8]. - Alkermes has a Value Style Score of A, with a forward P/E ratio of 10.19, making it attractive to value investors [8]. - Recent upward revisions in earnings estimates suggest a consensus estimate of $2.74 per share for fiscal 2024, with an average earnings surprise of 5.8% [8].

Alkermes plc (ALKS) reported adjusted earnings from continuing operations of 72 cents per share for second-quarter 2024, which missed the Zacks Consensus Estimate of 73 cents. The company had reported adjusted earnings of 78 cents per share in the year-ago quarter.ALKS’ total revenues of $399.1 million declined 35.3% from the year-ago quarter’s level owing to decreased manufacturing and royalty revenues. The top line, however, beat the Zacks Consensus Estimate of $394 million.Quarter in DetailAlkermes deriv ...

Alkermes plc (NASDAQ:ALKS) Q2 2024 Earnings Conference Call July 24, 2024 8:00 AM ET Company Participants Sandra Coombs - Senior Vice President, Investor Relations and Corporate Affairs Blair Jackson - Chief Operating Officer Todd Nichols - Chief Commercial Officer Richard Pops - Chief Executive Officer Conference Call Participants Umer Raffat - Evercore ISI Charles Duncan - Cantor Fitzgerald Chris Shibutani - Goldman Sachs Joseph Thome - TD Cowen David Amsellem - Piper Sandler Marc Goodman - Leerink Joel B ...

For the quarter ended June 2024, Alkermes (ALKS) reported revenue of $399.13 million, down 35.4% over the same period last year. EPS came in at $0.72, compared to $0.55 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $394.34 million, representing a surprise of +1.21%. The company delivered an EPS surprise of -1.37%, with the consensus EPS estimate being $0.73.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how t ...

Financial Performance - Net income from continuing operations for Q2 2024 was $94.7 million, down from $279.1 million in Q2 2023, representing a decrease of 66.1%[115] - Product sales increased by $37.8 million in Q2 2024 compared to Q2 2023, indicating a growth in product demand[115] - The company reported a net income of $128.2 million for the six months ended June 30, 2024, compared to $195.2 million in the prior year, indicating a decrease of about 34%[167][168] Revenue Changes - Manufacturing and royalty revenues decreased by $256.1 million in Q2 2024 compared to Q2 2023, primarily due to back royalties received in June 2023[116] - Manufacturing and royalty revenues decreased by 66.3% to $129.9 million for the three months ended June 30, 2024, compared to $385.9 million for the same period in 2023[141] - Royalty revenues from long-acting INVEGA products decreased due to a one-time back royalty of $195.4 million received in June 2023, with worldwide net sales of $1,054.0 million for the three months ended June 30, 2024[143] - The company expects a significant decrease in royalty revenues from INVEGA SUSTENNA after August 20, 2024, due to anticipated competition from generic versions[144] - Royalty revenue related to VUMERITY increased by $3.4 million and $6.4 million during the three and six months ended June 30, 2024, respectively, due to increased end-market net sales[145] Sales and Product Performance - Product sales, net increased by 16.3% to $269.3 million for the three months ended June 30, 2024, compared to $231.5 million for the same period in 2023[139] - VIVITROL product sales, gross increased by 9% and 6% during the three and six months ended June 30, 2024, respectively, compared to the same periods in 2023, driven by a 6% increase in units sold and a 3.2% increase in selling price[137] - LYBALVI product sales, gross surged by 57% and 56% during the three and six months ended June 30, 2024, respectively, due to a 52% increase in units sold and a 3.8% increase in selling price[137] Operating Expenses - Operating expenses decreased by $46.9 million in Q2 2024 compared to Q2 2023, driven by reductions in selling, general, and administrative expenses[116] - Selling, general, and administrative expenses decreased to $347.9 million for the six months ended June 30, 2024, from $363.6 million in the same period of 2023, a reduction of $15.7 million[152] - The decrease in general and administrative expenses was primarily due to a reduction in legal expenses by $11.1 million for the six months ended June 30, 2024[154] Research and Development - The company is focused on developing innovative medicines in neuroscience, with significant resources allocated to R&D efforts[133] - Total external R&D expenses for the six months ended June 30, 2024, were $50.6 million, an increase of $5.4 million compared to $45.2 million for the same period in 2023[150] - Internal R&D expenses totaled $76.7 million for the six months ended June 30, 2024, down $10.1 million from $86.8 million in the prior year[150] - ALKS 2680, an investigational treatment for narcolepsy, is currently in a phase 2 study, with plans to initiate a second phase 2 study in Q3 2024[134] - The company expects to initiate phase 2 clinical studies for ALKS 2680 in patients with narcolepsy type 2 in the third quarter of 2024[151] Cash and Liquidity - Cash and cash equivalents totaled $535.2 million as of June 30, 2024, compared to $457.5 million at the end of 2023, indicating improved liquidity[160] - Total cash and investments reached $962.6 million as of June 30, 2024, up from $813.4 million at the end of 2023[160] - Cash generated from operating activities for the six months ended June 30, 2024, was $167.1 million, a decrease from $194.4 million in the same period of 2023, reflecting a decline of approximately 14%[162] - Total cash and cash equivalents at the end of the period on June 30, 2024, were $535.2 million, down from $665.8 million at the end of June 30, 2023[166] Share Repurchase and Financing - The company repurchased approximately 3.5 million ordinary shares at a total cost of $84.7 million during the three months ended June 30, 2024, with $315.3 million remaining authorized under the Repurchase Program[164] - Cash flows used in financing activities for the six months ended June 30, 2024, included $84.7 million for share repurchases and $29.0 million for employee taxes related to equity awards[170] - The principal balance of borrowings under the 2026 Term Loans was $290.3 million as of June 30, 2024[171] - The company has an incremental facility capacity of $175.0 million under the 2026 Term Loans, subject to meeting certain conditions[162] Interest and Tax - Interest income increased to $20.1 million for the six months ended June 30, 2024, compared to $11.7 million in the prior year, reflecting rising interest rates[155] - The income tax provision for the three months ended June 30, 2024, was $22.1 million, a significant increase of $19.4 million from $2.7 million in the same period of 2023[157] Investments - Available-for-sale investments at June 30, 2024, totaled $427.4 million, with unrealized losses of $1.1 million[161] - The company maintains a diversified investment portfolio to mitigate credit risk, primarily consisting of U.S. government and agency debt securities[163] - Cash flows provided by investing activities for the six months ended June 30, 2024, included proceeds from the sale of the Athlone Facility amounting to approximately $97.9 million[169]