ALKS Stock — Alkermes plc: Cash, EV, Pipeline

Share price

$43.39

Market cap

$7,279.2M

Cash

$656.6M

Enterprise value

$8,099.2M

Balance sheet

Cash	$656.6M
Debt	$1,476.6M
Net cash	-$820.0M
Enterprise value	$8,099.2M
Basic shares	167.5M shares
Fully diluted shares	189.9M shares
Fully diluted market cap	$8,239.1M
Cash per share	$3.92

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Oct 13 - Nov 24	Olanzapine	Phase 3	Schizophrenia; Bipolar I Disorder	—
Dec 13, 2026 - Jan 24, 2027	ALKS 2680	Phase 2	Idiopathic Hypersomnia	2H 2026
Jun 12 - Jul 24	ALKS 2680 Dose 1	Phase 3	Narcolepsy Type 1	—
Jun 12 - Jul 24	ALKS 2680 Dose 1	Phase 3	Narcolepsy Type 2	—
Jul 13 - Aug 24	ALKS 2680 Dose 1	Phase 3	Narcolepsy Type 1	—
Aug 12 - Sep 23	ALKS 7290	Phase 2	Attention Deficit Disorder With Hyperactivity (ADHD)	—
Jul 13 - Aug 24	ALKS 2680, 4mg	Phase 3	Narcolepsy Type 1; Narcolepsy Type 2; Idiopathic Hypersomnia	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

Alixorexton

Phase 3 · Active Modality: oral once-daily small molecule

Target orexin 2 receptor

Indications

Narcolepsy type 1 (NT1) (Phase 3)
Narcolepsy type 2 (NT2) (Phase 3)
Idiopathic hypersomnia (IH) (Phase 2)

Status note Phase 1 in healthy volunteers and NT1/NT2/IH completed; Vibrance-1 and Vibrance-2 Phase 2 studies in NT1/NT2 completed; Brilliance Studies Phase 3 program in NT1/NT2 initiated Apr 1, 2026; Vibrance-3 Phase 2 in IH ongoing.

LUMRYZ

Approved · Active

Partnerships Avadel: acquired Feb 12, 2026; Jazz: 3.85% royalty on narcolepsy net sales plus royalties on non-narcolepsy indications (Avadel settlement)

Indications

Narcolepsy (adult and pediatric) (Approved)
Idiopathic hypersomnia (IH) (Phase 3)

Status note FDA-approved for narcolepsy with orphan exclusivity through May 1, 2030 (adult) and Oct 16, 2031 (pediatric); exclusively commercialized in U.S. by Alkermes. REVITALYZ Phase 3 in IH reported positive topline results May 2026, lifting the CVR milestone probability of success to 90%.

ARISTADA / ARISTADA INITIO

Approved · Active

Target Dopamine D2 receptor (partial agonist)

Indications

Schizophrenia (Approved)

Status note Proprietary commercial product.

LYBALVI

Approved · Active

Target opioid receptor

Indications

Schizophrenia (Approved)
Bipolar I disorder (Approved)

Status note Proprietary commercial product.

VIVITROL

Approved · Active

Target Mu-opioid receptor (antagonist)

Indications

Alcohol dependence (Approved)
Prevention of relapse to opioid dependence (Approved)

Status note Proprietary commercial product; non-exclusive license granted to Teva for generic VIVITROL in the U.S. beginning Jan 15, 2027.

Valiloxybate

Stage not disclosed · Active

Status note IPR&D asset from the Avadel acquisition; early stage of development.

Per-asset detail extracted from the 10-Q filed 2026-07-28. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	ALKS 2680 Dose 1
Lead indication	Narcolepsy Type 1
Lead phase	Phase 3
Active trials	8
Collaborator trials	3

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07455383	Phase 3	Recruiting	Sponsor	ALKS	—	Narcolepsy Type 1	—
NCT07502443	Phase 3	Recruiting	Sponsor	ALKS	—	Narcolepsy Type 2	—
NCT07540897	Phase 3	Recruiting	Sponsor	ALKS	—	Narcolepsy Type 1	—
NCT04987229	Phase 3	Enrolling by invitation	Sponsor	ALKS	—	Bipolar I Disorder; Schizophrenia	—
NCT06767683	Phase 3	Recruiting	Sponsor	ALKS	—	Narcolepsy Type 1; Narcolepsy Type 2; Idiopathic Hypersomnia	—
NCT05303064	Phase 3	Recruiting	Sponsor	ALKS	—	Schizophrenia; Bipolar I Disorder	—
NCT06843590	Phase 2	Recruiting	Sponsor	ALKS	—	Idiopathic Hypersomnia	2H 2026
NCT07755410	Phase 2	Recruiting	Sponsor	ALKS	—	Attention Deficit Disorder With Hyperactivity (ADHD)	—
NCT05028062	Not disclosed	Recruiting	Collaborator	University of Pennsylvania	—	Alcohol Use Disorder; Alcoholism	—
NCT07680114	Not disclosed	Recruiting	Collaborator	University of Wisconsin, Madison	—	Schizophrenia	—
NCT01246765	Not disclosed	Recruiting	Collaborator	Massachusetts General Hospital	BMY	Pregnant Women; Psychotropic Drugs	—

Sponsor-matched active trials from ClinicalTrials.gov (8 as sponsor, 3 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 11 active trials for Alkermes, Inc. on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
Baker Bros. Advisors	10,012,267	no change	2.63%	2026-08-14
RTW Investments	1,672,356	no change	0.75%	2026-08-14
Frazier Life Sciences	700,647	no change	0.80%	2026-08-14
Logos Global Management	0	-350,000	0.00%	2026-08-14
ADAR1 Capital Management	0	-46,400	0.00%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

ALKS — Alkermes plc

Balance sheet

Price history

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Institutional holders