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

Monday, April 16, 2018 5:25
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Shares of biopharmaceutical company Alkermes PLC (NASDAQ: ALKS) rocketed in premarket trade on Monday, after the Food and Drug Administration (FDA) accepted the company’s new drug application for its treatment of Major Depressive Disorder (MDD), or clinical depression.

Investors cheered the news as the acceptance comes after the FDA had issued a “refusal to file” letter for the firm’s clinical depression treatment, ALKS 5461, on March 30.

The stock had plunged after the FDA refusal, but it bounced back 17% on Monday to US$49.80 in premarket trade.

Story by ProactiveInvestors


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