Alkermes Plc (NASDAQ:ALKS)surged on Friday as the company announced that its depression drug (ALKS 5461) met its main goal in a finalized study. ALKS 5461 was successful in re-balancing brain function in patients with major depressive disorder. ALKS will meet with the FDA to determine the next steps towards approval.
Depression is one of the most common mental disorders in the U.S. according to the National Institute of Mental Health. Around 17 million people in the US are affected by MDD each year. While treatments exist, including talk therapy and antidepressants such as citalopram (brand name: Celexa) and paroxetine (brand name: Paxil), some patients may not respond to those drugs.
This announcement was followed by earlier setbacks with the drug. Alkermes share value fell after ALKS 5461 failed to meet certain goals earlier in their Phase III trial.
Alkermes Public Limited Company is a biopharmaceutical company. The Company is engaged in researching, developing and commercializing, both with partners and on its own, pharmaceutical products that are designed to address medical needs of patients in therapeutic areas.