BioCentury
ARTICLE | Financial News

Alkermes jumps on MDD readout

October 21, 2016 7:00 AM UTC

Alkermes plc (NASDAQ:ALKS) rose $12.11 (28%) to $55.62 on Friday after it said the higher of two doses of ALKS 5461 met the primary endpoint of the FORWARD-5 trial of the compound as adjunctive therapy for major depressive disorder (MDD). The company reported the news after market close Thursday (see BioCentury Extra, Oct. 20).

Based on the 151.5 million shares outstanding reported in Alkermes' latest quarterly report, Friday's stock move added about $1.8 billion to the company's market cap. ...