Alkermes plc.
ALKS evidence brief
What we can confirm
- BioSniper Score:
- 7.2 / 10
- Market Cap:
- $7.63B
- Lead Asset:
- ARISTADA (Approved)
What it means
What to watch
Prepared research question
What matters most for ALKS—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · ALKS
Alkermes plc is a global biopharmaceutical company applying neuroscience expertise to develop and commercialize medicines for psychiatric and neurological disorders, with a portfolio including VIVITROL, ARISTADA, LYBALVI, and a pipeline centered on orexin 2 receptor agonists.
Key risk: High debt burden
BioSniper Score
Based on 5 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 5 pipeline candidates · 11 clinical trials · 5 catalysts · 5 FDA decisions for Alkermes plc..
Alkermes plc is a global biopharmaceutical company applying neuroscience expertise to develop and commercialize medicines for psychiatric and neurological disorders, with a portfolio including VIVITROL, ARISTADA, LYBALVI, and a pipeline centered on orexin 2 receptor agonists.
- Alkermes is a global biopharmaceutical company focused on psychiatric and neurological disorders, with commercial products for alcohol dependence, opioid dependence, schizophrenia, bipolar I disorder, and narcolepsy [sec · filed 2026-04-06].
- As of 2026-06-30, the company reported cash & equivalents of $511.5M, total revenue of $496.0M, net income of $0.5M, shareholders' equity of $1,808.5M, and total debt of $1,503.1M [sec].
- The company's pipeline includes alixorexton (orexin 2 receptor agonist), which has completed phase 2 studies in narcolepsy type 1 and type 2 and received FDA Breakthrough Therapy designation for narcolepsy type 1 [sec · filed 2026-04-06].
- In 2025, Alkermes generated total revenues of approximately $1.48 billion, exceeding the high end of its financial guidance by more than $40 million [sec · filed 2026-04-06].
- The company acquired Avadel Pharmaceuticals in early 2026, adding a narcolepsy product and a commercial organization to accelerate entry into the sleep medicine market [sec · filed 2026-04-06].
What works
- Alkermes has a diversified portfolio of proprietary commercial products for multiple CNS indications, including VIVITROL, ARISTADA, and LYBALVI, providing multiple revenue streams [sec · filed 2026-04-06].
- The company's lead orexin 2 receptor agonist, alixorexton, has generated positive topline results in two phase 2 studies (Vibrance-1 and Vibrance-2) and received FDA Breakthrough Therapy designation, indicating potential for significant pipeline value [sec · filed 2026-04-06].
- Alkermes achieved strong profitability in 2025, with GAAP net income of approximately $242 million and Adjusted EBITDA of $394 million, demonstrating effective cost management and cash generation [sec · filed 2026-04-06].
What to weigh
- The company carries a high debt load of $1,503.1M as of 2026-06-30, which may constrain financial flexibility and increase interest expense [sec].
- Alkermes faces upcoming patent expiries for key products, including NALTREXONE in 2029 and DIROXIMEL FUMARATE in 2033, which could expose revenue to generic competition [catalyst_timeline].
- The pipeline is heavily reliant on the success of alixorexton and other orexin 2 receptor agonists, which are still in clinical development and subject to regulatory and commercial risks [sec · filed 2026-04-06].
From the filings
Quoted directly from source documents.
Alkermes is a global biopharmaceutical company focused on neuroscience.
“We apply our decades of deep neuroscience expertise to develop medicines designed to help people living with complex and difficult-to-treat psychiatric and neurological disorders.”
SEC filings · April 6, 2026
Catalyst timeline
- 2029-10-15 · Patent_Expiry · NALTREXONE — Expiry of NDA021897 for NALTREXONE may open the market to generic competition, potentially affecting revenue.
- 2033-10-29 · Patent_Expiry · DIROXIMEL FUMARATE — Expiry of NDA211855 for DIROXIMEL FUMARATE could reduce sales from this licensed product.
- 2039-04-06 · Patent_Expiry · ARIPIPRAZOLE LAUROXIL — Expiry of NDA207533 for ARIPIPRAZOLE LAUROXIL may impact long-term revenue from this product.
- 2041-11-12 · Patent_Expiry · OLANZAPINE; SAMIDORPHAN L-MALATE — Expiry of NDA213378 for OLANZAPINE and SAMIDORPHAN L-MALATE could affect future sales.
- 2042-03-16 · Patent_Expiry · SODIUM OXYBATE — Expiry of NDA214755 for SODIUM OXYBATE may open the market to generics.
Risks & what to watch (3)›
Key risks
- High debt burden — Total debt of $1,503.1M as of 2026-06-30 may increase financial risk and limit strategic flexibility [sec].
- Patent expiries on key products — Patent expiries for NALTREXONE (2029) and DIROXIMEL FUMARATE (2033) could lead to revenue loss from generic competition [catalyst_timeline].
- Pipeline concentration risk — Heavy reliance on alixorexton and orexin agonists, which are still in clinical development, poses regulatory and commercial uncertainty [sec · filed 2026-04-06].
What to watch
- Progress of alixorexton through phase 3 studies and potential regulatory submissions for narcolepsy and idiopathic hypersomnia [sec · filed 2026-04-06].
- Integration and commercial performance of the Avadel acquisition, including the new narcolepsy product [sec · filed 2026-04-06].
- Financial trends, particularly debt management and cash flow generation, given the high debt level and recent profitability [sec].
- Patent expiry dates for NALTREXONE (2029) and DIROXIMEL FUMARATE (2033) and their impact on revenue [catalyst_timeline].
Sources: SEC filings · SEC MD&A · Generated October 13, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 5 of 6 signals · derived from public data
Cash runway data unavailable
D/E 1.43 · 4% dilution
Lead: Approved
5 candidates
5 upcoming, next in ~1097d
0 buys · 14 sells (180d)
Catalysts
Pipeline
Regulatory
Financials
Short Interest
as of Apr 19, 2026- % of float
- 15.9%
- Days to cover
- 7.0
- Shares short
- 19,013,418
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
ALKS short interestGovernance
Frequently asked questions
What is the AI investment thesis for Alkermes plc.?
Alkermes plc is a global biopharmaceutical company applying neuroscience expertise to develop and commercialize medicines for psychiatric and neurological disorders, with a portfolio including VIVITROL, ARISTADA, LYBALVI, and a pipeline centered on orexin 2 receptor agonists.
What is Alkermes plc.'s lead drug candidate?
Alkermes plc.'s most advanced tracked candidate is ARISTADA (Approved) for Treatment of schizophrenia.
What is Alkermes plc.'s next catalyst?
Alkermes plc.'s next tracked catalyst is a Patent_Expiry event — "Patent_Expiry: NDA021897" — expected October 15, 2029.
Who is the CEO of Alkermes plc.?
Mr. Blair C. Jackson is the chief executive officer of Alkermes plc. (ALKS).
Where is Alkermes plc. headquartered?
Alkermes plc. (ALKS) is headquartered in Dublin, Ireland.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.