Alkermes rises as it starts late-stage trials of sleep disorder drug

Alkermes

01/04/2026 12:38

** Shares of drugmaker Alkermes ALKS.O rise 1.5% to $35.88 premarket

** Co says it has begun late-stage trials of experimental drug alixorexton for narcolepsy, a sleep disorder that makes people extremely sleepy during the day

** Co says trials will test the pill in about 480 adults with two types of narcolepsy, including a form linked to sudden muscle weakness, against a placebo

** Adds that the studies will check if the drug helps patients stay awake longer and cut symptoms such as fatigue and muscle weakness

** Co says the U.S. FDA has granted the drug Breakthrough Therapy status for one type of narcolepsy, which could speed up review if trials succeed

** As of last close, stock up 26% YTD

 (Reporting by Sahil Pandey in Bengaluru)

 ((Sahil.Pandey@thomsonreuters.com))