Why Shares of Alkermes Rose 18% Last Month
Shares of Alkermes (NASDAQ: ALKS) climbed 17.8% in April, according to S&P Global Market Intelligence. Several positive developments boosted the maker of drugs for schizophrenia, as well as alcohol and opioid dependence. Alkermes announced a partnership to fight ovarian cancer, reported earnings that beat Wall Street estimates, and reached an agreement with an activist hedge fund that had been agitating for changes.
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Early in the month, the company announced it would advance the combination of nemvaleukin -- its drug that expands tumor-killing immune cells -- with Merck's Keytruda, to phase 3 trials. The combination has shown some anti-tumor activity against an especially difficult to treat form of ovarian cancer.
Source Fool.com
