Alkermes reports Q3 non-GAAP EPS 66c, consensus 43c

Reports Q3 revenue $380.9M, consensus $362.15M. “With solid performance across our proprietary commercial portfolio, the successful settlement of the VIVITROL patent litigation, and progress toward completion of the separation of our oncology business, we have made significant strides to evolve the business into a pure-play neuroscience company with the potential to generate strong profitability and cash flow,” said Richard Pops, CEO. “Our presentation at this week’s World Sleep Congress of the first-in-human safety and tolerability data and initial proof-of-concept data for ALKS 2680, our investigational, orexin 2 receptor agonist for the treatment of narcolepsy, represents an important milestone for that development program. We look forward to sharing additional data from the phase 1 study and advancing ALKS 2680 into a planned phase 2 program next year.”