BofA keeps a Neutral rating on Alkermes (ALKS) after the company reported Phase 2 results from the Vibrance-1 study evaluating its orexin-receptor 2 agonist in narcolepsy type1 patients. The study validates ALKS2680 as an active drug in narcolepsy, the analyst tells investors in a research note. However, the press release provided limited details on effect size and safety, which leaves outstanding questions such as strength of the cataplexy data and competitiveness versus Takeda’s (TAK) TAK-861, contends BofA. The firm cites the limited data disclosure to the stock’s selloff today. Alkermes in morning trading is down 7% to $27.09.
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