The following is a summary of the Alkermes Plc (ALKS) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Alkermes reported total revenues of $350.4 million in Q1 2024, driven by a growth of 9% in their proprietary product portfolio.

• The company had GAAP net income from continuing operations of $38.9 million, non-GAAP net income from continuing operations of $76.2 million, and EBITDA from continuing operations of $51.5 million.

• Alkermes has a solid financial position with cash and total investments of $807.8 million at the end of Q1 2024 and total outstanding debt of $290.1 million.

Business Progress:

• The company is making investments in neuroscience development programs, specifically the ALKS 2680 for narcolepsy treatment, which has now entered and launched Phase 2 of the trial.

• They are also developing another Phase 2 study, Vibrance-2, with multiple dosage strengths of ALKS 2680 expected to launch in the second half of 2024.

• Alkermes announced significant growth for LYBALVI, with anticipated widening of gross to net coverage in 2025 due to strategic execution and increased patient access. The prescriber base for LYBALVI is also expanding, with yearly growth of about 34%.

More details: Alkermes IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.