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 ...

DUBLIN, April 17, 2024 /PRNewswire/ -- Alkermes plc (Nasdaq: ALKS) will host a conference call and webcast presentation at 8:00 a.m. ET (1:00 p.m. BST) on Wednesday, May 1, 2024 to discuss the company's first quarter financial results. The webcast player and accompanying slides may be accessed on the Investors section of Alkermes' website at www.alkermes.com. The conference call may be accessed by dialing +1 877 407 2988 for U.S. callers and +1 201 389 0923 for international callers. A replay of the webcast ...

Alkermes plc (ALKS) announced positive top-line data from a phase Ib study evaluating its novel, investigational, oral orexin 2 receptor (OX2R) agonist, ALKS 2680, as a once-daily treatment for narcolepsy.The above data was from the narcolepsy type 2 (NT2) and idiopathic hypersomnia (IH) cohorts of the early-stage proof-of-concept study, which evaluated ALKS 2680 for the given indication.The phase Ib NT2 and IH study cohorts investigated the safety, tolerability, pharmacokinetics and pharmacodynamics of var ...

MTStock Studio/E+ via Getty Images Alkermes Shows Strong Phase 1 Results for Narcolepsy Treatment ALKS-2680 Alkermes plc (NASDAQ:ALKS) stock hasn't moved much since my last update in November. Back then, I discussed its prospects in narcolepsy ahead of Phase 1 data for its orexin 2 receptor (OX2R) agonist, ALKS-2680. I highlighted the potential for this asset to be differentiated in that it addresses a cause of narcolepsy, rather than simply treating a symptom. I also discussed some historical downfalls of ...

— Orexin 2 Receptor Agonist ALKS 2680 Demonstrated Clinically Meaningful and Statistically Significant Improvements from Baseline in Mean Sleep Latency Compared to Placebo at All Doses Tested in Both Narcolepsy Type 2 and Idiopathic Hypersomnia — — ALKS 2680 Was Generally Well Tolerated at All Doses Tested — — Dose-Dependent Effects and Pharmacodynamic Profile Support Advancement Into Planned Phase 2 Study — DUBLIN, April 9, 2024 /PRNewswire/ -- Alkermes plc (Nasdaq: ALKS) today announced positive topline r ...

DUBLIN, April 8, 2024 /PRNewswire/ -- Alkermes plc (Nasdaq: ALKS) today announced the oral presentation of clinical data at the 2024 Congress of the Schizophrenia International Research Society (SIRS), which took place April 3-7, 2024 in Florence, Italy. Analyses were presented from a phase 3, open-label extension study assessing the long-term safety, tolerability and durability of treatment effect of LYBALVI® (olanzapine and samidorphan) in patients who received up to four years of treatment. LYBALVI is ap ...

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Alkermes (ALKS) . This company, which is in the Zacks Medical - Biomedical and Genetics industry, shows potential for another earnings beat.This drugmaker has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 24.90%.For the ...