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Zacks Equity Research, On Friday July 1, 2011, 2:30 pm EDT
Recently, Alkermes Inc. (NasdaqGS: ALKS - News) presented encouraging top line data from an early stage study of its schizophrenia candidate ALKS 9070 (n=32). ALKS 9070 is a once-monthly injectable extended release version of Bristol-Myer Squibb’s (NYSE: BMY - News) schizophrenia drug Abilify (aripiprazole). Alkermes intends to present complete data from the study at an upcoming medical conference.
The double-blind, randomized, placebo-controlled 20-week study evaluated the safety, tolerability and pharmacokinetics of ALKS 9070 (once-monthly) at 3 doses in patients suffering from chronic, stable schizophrenia.
Data from the study revealed that the candidate was generally well tolerated at all doses and achieved therapeutically relevant plasma concentrations of Abilify. The pharmacokinetic profile backed the once-monthly dosing of ALKS 9070. Encouraged by the positive results, the company intends to commence a pivotal development program for the candidate by the end of the present calendar year.
Even though the positive results for ALKS 9070 is a boost to Alkermes’ pipeline we believe that investor focus will remain on the fate of diabetes drug, Bydureon, in the US and its launch in the European Union. Alkermes has co-developed Bydureon with Amylin Pharmaceuticals (NasdaqGS: AMLN - News), Eli Lilly and Company (NYSE: LLY - News).
Another event which is expected to be in focus is the impending purchase of Elan Corporation’s (NYSE: ELN - News) drug delivery unit, Elan Drug Technologies, by Alkermes. The merger is expected to close in the third quarter of calendar 2011. The deal is expected to boost Alkermes’ cash earnings immediately following its closure. The product portfolio at Alkermes will be strengthened following the merger. The merged entity is expected to possess a diversified product portfolio (with 25 marketed products) and a robust pipeline.
Our Recommendation
Currently we have a ‘Neutral’ long-term recommendation for Alkermes. The company carries a Zacks #3 Rank (‘Hold’ rating) in the short run.
Recent ALKS News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/05/2024 08:13:44 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 07/24/2024 08:59:29 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 07/24/2024 01:23:48 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/24/2024 11:05:12 AM
- Alkermes plc Reports Second Quarter 2024 Financial Results • PR Newswire (US) • 07/24/2024 11:00:00 AM
- Alkermes to Report Second Quarter Financial Results on July 24, 2024 • PR Newswire (US) • 07/17/2024 08:00:00 PM
- Alkermes to Report Second Quarter Financial Results on July 24, 2024 • PR Newswire (US) • 07/17/2024 08:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 12:56:20 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 12:55:11 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/04/2024 09:05:16 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/04/2024 09:01:28 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/04/2024 08:53:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/04/2024 08:51:16 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/04/2024 08:49:22 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/04/2024 08:45:15 PM
- Alkermes Presents Data From Phase 1b Study of ALKS 2680 Demonstrating Improved Wakefulness in Patients With Narcolepsy Type 1 at SLEEP 2024 • PR Newswire (US) • 06/03/2024 11:00:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/31/2024 08:05:10 PM
- Alkermes to Participate in Two Upcoming Investor Conferences • PR Newswire (US) • 05/29/2024 08:00:00 PM
- Alkermes to Participate in Two Upcoming Investor Conferences • PR Newswire (US) • 05/29/2024 08:00:00 PM
- Alkermes to Present New Clinical Data for ALKS 2680 at SLEEP 2024 • PR Newswire (US) • 05/28/2024 11:00:00 AM
- Alkermes to Present New Clinical Data for ALKS 2680 at SLEEP 2024 • PR Newswire (US) • 05/28/2024 11:00:00 AM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 05/14/2024 08:30:08 PM
- Alkermes Highlights Data Presentations Related to its Psychiatry Franchise at Spring 2024 Scientific Conferences • PR Newswire (US) • 05/14/2024 11:00:00 AM
- Alkermes Highlights Data Presentations Related to its Psychiatry Franchise at Spring 2024 Scientific Conferences • PR Newswire (US) • 05/14/2024 11:00:00 AM
- Alkermes plc Completes Sale of Athlone, Ireland Facility to Novo Nordisk • PR Newswire (US) • 05/02/2024 11:00:00 AM
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