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Alkermes stock soars after FDA accepts its clinical depression drug for review

Monday, April 16, 2018 6:25
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Shares of biopharmaceutical company Alkermes PLC (NASDAQ:ALKS) soared in pre-market trade after the US Food and Drug Administration accepted the firm’s new drug application for its treatment of clinical depression.

The drug ALKS 5461 is a novel, once-daily, oral investigational medicine for the adjunctive treatment of major depressive disorder in patients with an inadequate response to standard anti-depressant therapies.

The stock gained 17% to US$49.80.

READ: Alkermes shares tumble 20% as FDA says it needs more trial data for depression drug

The company’s shares plunged 22% on April 2 when investors learned the FDA had issued a “refusal to file” letter for ALKS 5461 on March 30.

 

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/195049/alkermes-stock-soars-after-fda-accepts-its-clinical-depression-drug-for-review-195049.html

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