As we delve deeper into 2024, biotech stocks are commanding the attention of growth-focused investors. Despite facing volatility and regulatory challenges in recent years, biotech is poised for a resurgence. Breakthroughs in personalized medicine and gene editing technologies are driving biotech forward.The global biotechnology market was valued at $1.0 trillion in 2022 and is projected to reach $3.6 trillion by 2032. Increasing demand for personalized medicine and advancements in genetic engineering will d ...

Alkermes plc (ALKS) reported adjusted earnings from continuing operations of 44 cents per share for first-quarter 2024, which missed the Zacks Consensus Estimate of 59 cents. The company had reported adjusted earnings of 18 per share in the year-ago quarter.ALKS’ revenues of $350.4 million rose 21.8% from the year-ago quarter’s level owing to the strong performance of its proprietary products portfolio. The top line, however, missed the Zacks Consensus Estimate of $360 million.Quarter in DetailAlkermes deri ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-35299 ALKERMES PUBLIC LIMITED COMPANY (Exact name of registrant as specified in its charter) Ireland 98-1007018 (State or other jurisdiction of incorporation or o ...

Alkermes plc (NASDAQ:ALKS) Q1 2024 Earnings Conference Call May 1, 2024 8:00 AM ET Company Participants Sandra Coombs - Senior Vice President, Corporate Affairs and Investor Relations Blair Jackson - Chief Operating Officer Todd Nichols - Chief Commercial Officer Richard Pops - Chief Executive Officer Conference Call Participants Charles Duncan - Cantor Fitzgerald David Amsellem - Piper Sandler Joel Beatty - Baird Umer Raffat - Evercore ISI Jason Gerberry - Bank of America Uy Ear - Mizuho Securities Jessica ...

Alkermes (ALKS) reported $350.37 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 21.8%. EPS of $0.44 for the same period compares to $0.01 a year ago.The reported revenue represents a surprise of -2.75% over the Zacks Consensus Estimate of $360.26 million. With the consensus EPS estimate being $0.59, the EPS surprise was -25.42%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Stree ...

First Quarter 2024 Financial Results & Business Update May 1, 2024 Forward-Looking Statements and Non-GAAP Financial Information Certain statements set forth in this presentation constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, but not limited to, statements concerning: Alkermes plc’s (the “Company”) expectations with respect to its current and future financial, commercial and operating performance, business plans or p ...

Alkermes (ALKS) came out with quarterly earnings of $0.44 per share, missing the Zacks Consensus Estimate of $0.59 per share. This compares to earnings of $0.01 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -25.42%. A quarter ago, it was expected that this drugmaker would post earnings of $0.46 per share when it actually produced earnings of $0.48, delivering a surprise of 4.35%.Over the last four quarters, the company has s ...

Revenue and Sales Performance - First quarter revenues of $350.4 million, with total proprietary net sales of $233.5 million[1][3] - LYBALVI revenues grew 50% year-over-year to $57.0 million, with total prescriptions increasing by 56%[5] - Manufacturing and royalty revenues from INVEGA and VUMERITY totaled $94.0 million for the quarter[5] - Total revenues for Q1 2024 increased to $350.4 million, up 21.8% from $287.6 million in Q1 2023[21] Net Income and Profitability - GAAP net income from continuing operations of $38.9 million, compared to a net loss of $12.1 million in the same period last year[4] - Non-GAAP net income from continuing operations of $76.2 million, up from $30.1 million in the first quarter of 2023[4] - Net income from continuing operations improved significantly to $38.9 million, compared to a loss of $12.1 million in Q1 2023[21] - Non-GAAP net income from continuing operations reached $76.2 million, more than double the $30.1 million in Q1 2023[23] Cash and Investments - Cash, cash equivalents, and total investments of $807.8 million as of March 31, 2024, with total debt outstanding of $290.1 million[9] - Cash, cash equivalents, and total investments stood at $807.8 million as of March 31, 2024, slightly down from $813.4 million at the end of 2023[24] Research and Development (R&D) - ALKS 2680 phase 2 study in narcolepsy type 1 initiated, with positive topline phase 1b results in narcolepsy type 2[2][11] - R&D expenses for continuing operations increased to $67.6 million, driven by ALKS 2680 development and share-based compensation[7] - Research and development expenses rose to $67.6 million, up 6.0% from $63.8 million in the prior year period[21] Selling, General, and Administrative (SG&A) Expenses - SG&A expenses for continuing operations rose to $179.7 million, primarily due to LYBALVI advertising and share-based compensation[8] - Selling, general and administrative expenses increased to $179.7 million, up 7.1% from $167.8 million in Q1 2023[21] Share-Based Compensation - Share-based compensation expense increased to $32.8 million, up from $21.0 million in Q1 2023[23] Financial Expectations and Outlook - The company reiterates its 2024 financial expectations as previously announced[10] EBITDA and Operational Performance - EBITDA from continuing operations rose to $51.5 million, up from $7.2 million in the same period last year[22] Assets and Liabilities - Total assets decreased marginally to $2.12 billion from $2.14 billion at the end of 2023[24] Share Structure - Weighted average number of ordinary shares outstanding (diluted) increased to 172,981 from 165,085 in Q1 2023[21]

DUBLIN, April 24, 2024 /PRNewswire/ -- Alkermes plc (Nasdaq: ALKS) today announced initiation of the Vibrance-1 study, a phase 2 clinical trial evaluating the safety and efficacy of ALKS 2680 compared to placebo in patients with narcolepsy type 1 (NT1). ALKS 2680 is the company's novel, investigational, oral orexin 2 receptor (OX2R) agonist in development as a once-daily treatment for narcolepsy, a chronic, neurological disorder characterized by excessive daytime sleepiness. NT1 is associated with an absenc ...

Alkermes plc (ALKS) has made steady progress with its portfolio of proprietary products — Vivitrol (alcohol and opioid dependence), Aristada (schizophrenia) and Lybalvi (schizophrenia and bipolar I disorder) that are witnessing a steady uptake and driving growth.The continued growth in the alcohol-dependence treatment market has driven new patients toward Vivitrol, while Aristada sales have been driven by underlying demand in recent quarters.Lybalvi (olanzapine and samidorphan), which is approved for the tr ...