Alkermes Shares Surge
October 20 2016 - 05:40PM
Dow Jones News
Alkermes PLC said its depression drug helped patients not
responding to standard treatments, news that added more than $3
billion to the company's market value in after-hours trading.
The company said that in a late-stage trial, its ALKS 5461
treatment significantly improved depression scores in patients who
had an inadequate response to standard therapies. The most commonly
reported adverse events associated with the treatment were nausea,
dizziness and fatigue.
Alkermes said it plans to request a meeting with the U.S. Food
and Drug Administration to discuss the filing strategy for the
treatment, which has a fast-track designation.
Shares of Alkermes rose 47% to $64.10 in after-hours trading. At
that price, the company has a market cap of $9.7 billion, up from
its valuation of $6.59 billion at the end of the regular session
Thursday.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
October 20, 2016 17:25 ET (21:25 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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