Alkermes plc (NASDAQ:ALKS) reported positive interim results from its ongoing long-term extension (LTE) study of investigational oral therapy alixorexton, showing sustained improvements in wakefulness, daytime sleepiness, cognition, and fatigue in adults with narcolepsy type 1 (NT1) and narcolepsy type 2 (NT2).
Long-Term Data Show Durable Clinical Benefits
The interim analysis included participants who completed the Phase 2 Vibrance-1 (NT1) and Vibrance-2 (NT2) studies before enrolling in the open-label LTE.
The analysis included safety data through May 12, 2026, and efficacy assessments at week 24 of the extension study.
NT1 Participants Maintained Wakefulness And Symptom Improvements
Across all dose groups, participants achieved normative wakefulness on the Maintenance of Wakefulness Test at week 24, with a mean observed sleep latency of about 29 minutes.
Epworth Sleepiness Scale scores remained within the normal range across all doses, while weekly cataplexy rates also improved from baseline.
Patient-reported measures showed cognition and fatigue improvements were generally maintained through week 24, with most participants reporting cognitive function and fatigue scores within the normal range.
NT2 Results Mirror Durable Efficacy And Safety
Participants across all dose groups demonstrated further improvements in wakefulness at week 24, with a mean observed sleep latency of approximately 18 minutes.
Epworth Sleepiness Scale scores remained within the normal range for the 14 mg and 18 mg dose groups.
Improvements in cognition and fatigue were also generally maintained, with most participants reporting cognitive function within the normal or mild impairment range and fatigue scores within the normal range.
No serious treatment-emergent adverse events were reported. The most common adverse events included headache, micturition urgency, pollakiuria, and nasopharyngitis.
Next Steps
Alkermes said it plans to present the findings at an upcoming medical meeting. Alixorexton is currently being evaluated in the Phase 3 Brilliance studies in adults with NT1 and NT2, as well as the Phase 2 Vibrance-3 study in adults with idiopathic hypersomnia.
Stock Performance And Technical Analysis
Alkermes stock was down more than 1% on Monday. The Nasdaq Composite fell more than 1%, while the S&P 500 declined 0.44%.
The longer-term trend remains positive. Alkermes continues to trade above its 20-day, 50-day, 100-day and 200-day simple moving averages. The 50-day moving average also remains above the 200-day moving average following a golden cross that formed in January.
The stock is still about 51% above its 200-day moving average, suggesting the broader uptrend remains intact. However, momentum has weakened in recent sessions.
The MACD remains below its signal line, while the histogram is negative. That indicates bullish momentum has faded and buyers have lost some control in the short term.
Price action also points to consolidation rather than a breakdown. The stock is trading between its April swing low and July swing high. Traders will likely watch whether shares can hold near the 20-day moving average to keep the short-term uptrend intact.
The next resistance level is the 52-week high of $55.67. Initial support sits near $50.38, close to the 20-day moving average.
ALKS Stock Price Activity: Alkermes shares were down 1.48% at $51.17 at the time of publication on Monday, according to Benzinga Pro data.
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