Alkermes Shares Surge on Positive Phase 1b Data for ADHD Drug Candidate

Shares of Irish pharmaceutical firm Alkermes (ALKS) surged 8.4% in pre-market trading after the company announced positive top-line results from its Phase 1b study of ALKS 7290, an investigational treatment for adult attention-deficit/hyperactivity disorder (ADHD).

Key Study Findings

The double-blind, placebo-controlled trial evaluated the safety and efficacy of ALKS 7290, an oral orexin 2 receptor agonist. The study involved 50 adult patients with ADHD who received either a 20 mg or 50 mg daily dose of the drug, or a placebo, over a 14-day period.

According to Alkermes, patients in both dosage groups demonstrated a clinically meaningful and statistically significant improvement in ADHD symptom scores from their baseline. The company highlighted that ALKS 7290 is the first orexin 2 receptor agonist to show such promising results for adult ADHD, a significant milestone both commercially and scientifically.

Strategic Implications for Orexin Platform

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This positive data reinforces investor confidence in Alkermes' broader orexin pipeline, which the company is developing for a range of neurological disorders beyond sleep medicine. This platform also includes alixorexton for narcolepsy and the LUMRYZ sleep disorder portfolio, acquired through its purchase of Avadel Pharmaceuticals.

The results for ALKS 7290 help validate the investment thesis that Alkermes' orexin platform has the potential to address multiple high-value indications. This narrative has gained traction with analysts in recent months, with firms including Piper Sandler and RBC Capital maintaining "Buy" ratings on the stock, according to the source.

Market Reaction

The stock's pre-market rally was the primary catalyst for one of its most significant single-day gains in recent months. The move was also supported by a broadly positive market environment, which provided a favorable backdrop for risk assets, particularly biotechnology stocks with strong clinical data.