Alkermes plc ( (ALKS) ) has released its Q1 earnings. Here is a breakdown of the information Alkermes plc presented to its investors.
Alkermes plc is a global biopharmaceutical company focused on developing innovative treatments for neurological disorders, including alcohol and opioid dependence, schizophrenia, and bipolar I disorder, with a strong presence in neuroscience research.
In its first quarter of 2025, Alkermes plc reported revenues of $306.5 million and a GAAP net income of $22.5 million, with diluted earnings per share of $0.13. The company remains committed to its financial guidance for the year, despite a decrease in total revenues compared to the previous year.
Key financial highlights include a 23% increase in LYBALVI revenues compared to the previous year, reaching $70 million, while VIVITROL and ARISTADA revenues were $101 million and $73.5 million, respectively. The company also reported manufacturing and royalty revenues of $27.8 million from VUMERITY.
Despite a decline in total revenues and adjusted EBITDA compared to the first quarter of 2024, Alkermes has maintained a strong cash position with $916.2 million in cash, cash equivalents, and total investments. The company is advancing its ALKS 2680 program, with significant progress in its phase 2 studies for narcolepsy and idiopathic hypersomnia.
Looking ahead, Alkermes is focused on executing its strategic objectives and advancing its pipeline, particularly the promising ALKS 2680 program, which has the potential to transform treatments for central disorders of hypersomnolence. The company is preparing for its phase 3 program and anticipates releasing topline results from ongoing studies later this year.