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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Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.Zacks Premium includes access to the Zacks Style Scores as well.What are the Zacks Style Scores?The ...

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 ...

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 June 30, 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 or ...

Second Quarter 2024 Financial Results & Business Update July 24, 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 o ...

Financial Performance - Second quarter revenues reached $399.1 million, a decrease from $617.4 million in the same period last year[1][3] - Total revenues for the three months ended June 30, 2024, were $399,131,000, a decrease of 35.4% compared to $617,397,000 for the same period in 2023[26] - For the six months ended June 30, 2024, total revenues were $749,503,000, down 17.2% from $904,992,000 in the same period of 2023[29] - Operating income for the three months ended June 30, 2024, was $109,883,000, down 60.1% from $281,269,000 in the same period of 2023[26] - Net income from continuing operations for the three months ended June 30, 2024, was $94,658,000, a decline of 66.1% compared to $279,101,000 in the prior year[27] - Net income from continuing operations for the six months ended June 30, 2024, was $133,606,000, a decrease of 50% compared to $267,051,000 in the prior year[31] - The company reported a basic GAAP earnings per share from continuing operations of $0.79 for the six months ended June 30, 2024, down from $1.61 in the same period of 2023[29] Product Sales - Proprietary product net sales increased approximately 16% year-over-year, totaling $269.3 million compared to $231.5 million[1][3] - LYBALVI revenues grew 52% year-over-year to $71.4 million, with total prescriptions increasing by 44%[6] - ARISTADA revenues were $86.0 million, with new to brand prescriptions growing 6% sequentially[7] - VIVITROL revenues increased by 10% year-over-year to $111.9 million, driven by the alcohol dependence indication[8] - Product sales, net, increased to $269,273,000 for the three months ended June 30, 2024, up from $231,477,000 in the prior year, representing a growth of 16.3%[26] Income and Expenses - GAAP net income from continuing operations was $94.7 million, with diluted GAAP earnings per share of $0.55[1][4] - Non-GAAP net income from continuing operations for the three months ended June 30, 2024, was $123,442,000, compared to $134,308,000 in the same period of 2023, reflecting a decrease of 8.7%[28] - Total expenses for the three months ended June 30, 2024, were $289,248,000, down 13.9% from $336,128,000 in the same period of 2023[26] - EBITDA from continuing operations for the three months ended June 30, 2024, was $118,594,000, a decrease of 60.3% from $299,068,000 in the same period of 2023[27] Cash and Investments - Cash, cash equivalents, and total investments amounted to $962.5 million as of June 30, 2024, up from $807.8 million at the end of March 2024[11] - Cash, cash equivalents, and total investments reached $962,520 thousand, up from $813,378 thousand at the end of 2023[33] Shareholder Actions - The company repurchased approximately 3.5 million ordinary shares for a total of $84.7 million during the second quarter[12] - Total shareholders' equity increased to $1,284,005 thousand, compared to $1,202,686 thousand at the end of the previous year[33] Research and Development - The company announced positive topline results from the phase 1b study of ALKS 2680 for narcolepsy, with further studies initiated[14][15] - Research and development expenses for the latest quarter were $3,913 thousand, up from $2,516 thousand in the previous quarter[34] Future Outlook - Alkermes reiterated its financial expectations for 2024, maintaining a strong operational focus on its commercial portfolio and neuroscience development pipeline[13][14] - The company intends to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, in July 2024[33]