Alkermes reports Q2 EPS 52c, consensus 38c

Reports Q2 revenue $390.7M, consensus $341.3M. “Our Q2 results reflect strong performance across all three of our proprietary products and robust profitability and cash flow generation,” said CEO Richard Pops. “Against the backdrop of solid financial performance, the recently announced positive topline results from Vibrance-1, our phase 2 study of alixorexton in narcolepsy type 1, were an important milestone in the development program and underscore the differentiated features of alixorexton. These data also highlight the potential of orexin 2 receptor agonists to transform the treatment of narcolepsy. As we prepare to initiate a global phase 3 program, we look forward to sharing detailed results from Vibrance-1 at the upcoming World Sleep Congress and topline results from our Vibrance-2 study in patients with narcolepsy type 2 this fall.”