Alkermes (ALKS)

Executive Summary

Alkermes is a fully integrated biopharmaceutical company focused on innovative treatments for psychiatric and neurological disorders. With four approved products, including Lybalvi (olanzapine/samidorphan) for schizophrenia and bipolar I disorder, and Vivitrol for addiction, the company leverages its deep neuroscience expertise to address complex CNS conditions. Key pipeline assets include ALKS 2680, a novel orexin 2 receptor agonist being developed for narcolepsy type 1, which recently completed a Phase 2 study. The company also has a robust early-stage pipeline targeting major depressive disorder and other CNS indications. Alkermes' integrated business model, from discovery through commercial manufacturing, positions it well to deliver sustained growth. Upcoming catalysts include the presentation of full Phase 2 data for ALKS 2680 and the expected initiation of Phase 3 trials, which could drive significant value for shareholders.

Upcoming Catalysts (preview)

• Q2 2026Phase 2 data presentation for ALKS 2680 in narcolepsy type 1 at a medical conference90% success
• Q4 2026Initiation of Phase 3 trials for ALKS 2680 in narcolepsy type 170% success