Alkermes recaps Q2 highlights in developing ALKS 2680 for narcolepsy, including positive study results and the initiation of a phase 2 trial.

Summary: Alkermes reported its Q2 2024 financial performance and advances in the development of narcolepsy treatments, particularly with the investigational drug ALKS 2680. The company highlighted its financial position, double-digit growth, and progress in its neuroscience pipeline, including positive results from studies on ALKS 2680 and the initiation of a phase 2 study.

Three Key Takeaways

  1. Results for ALKS 2680: Alkermes announced positive topline results for ALKS 2680 in treating narcolepsy type 2 and idiopathic hypersomnia, demonstrating its potential as a once-daily treatment for these conditions.
  2. Phase 2 Study Initiation: The company has initiated the Vibrance-1 phase 2 study of ALKS 2680 for narcolepsy type 1.
  3. Presentation at SLEEP 2024: Alkermes presented new research and data on ALKS 2680 at the SLEEP 2024 conference, showcasing the progress and potential of its narcolepsy treatment.

Alkermes reported its financial performance and advances in narcolepsy treatment development, including promising results for ALKS 2680, in its Q2 2024 results.

“Our second quarter results reflect solid execution across our business, delivering double-digit, year-over-year growth for our proprietary commercial product portfolio and robust profitability. We enter the second half of the year in a strong financial position with clear operational priorities to drive the performance of our commercial portfolio and advance our neuroscience development pipeline, including the phase 2 program for ALKS 2680 in narcolepsy type 1 and type 2,” says Richard Pops, chief executive officer of Alkermes, in a release.

Recent Events

  • In April 2024, the company announced positive topline results from the narcolepsy type 2 and idiopathic hypersomnia cohorts in its phase 1b proof-of-concept study evaluating ALKS 2680, the company’s novel, investigational, oral orexin 2 receptor (OX2R) agonist in development as a once-daily treatment for narcolepsy.
  • In April 2024, the company announced initiation of its Vibrance-1 phase 2 study of ALKS 2680 in patients with narcolepsy type 1.
  • In June 2024, the company presented new research related to ALKS 2680 and narcolepsy, including new data from the full narcolepsy type 1 cohort in its phase 1b, proof-of-concept study evaluating ALKS 2680, at SLEEP 2024, the 38th annual meeting of the Associated Professional Sleep Societies.

“As a profitable, smid-cap biotech growth company with multiple commercial products and a development pipeline with significant value potential, we are executing our plan to become a leader in the field of neuroscience,” says Pops in a release.