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How’s Alkermes Positioned Financially in September?

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Aug. 18 2020, Updated 6:26 a.m. ET

Revenue trends

In the second quarter, Alkermes (ALKS) reported revenues of $304.6 million—compared to $218.8 million in the second quarter of 2017, which reflects ~39% growth year-over-year.

In the second quarter, Alkermes generated revenues of $128.2 million as manufacturing and royalty revenues. Alkermes reported revenues of $109.8 from product sales in the second quarter—compared to $88.7 million in the second quarter of 2017. In the second quarter, Alkermes generated revenues of $48.25 million from licenses.

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In the first half of 2018, Alkermes reported net revenues of $529.8 million—compared to net revenues of $410.6 million in the first half of 2017. In the first half of 2018, Alkermes reported revenues of $242.8 million from manufacturing and royalties. The company reported revenues of $201.6 million from product sales.

Earnings trends

In the second quarter, Alkermes reported a GAAP (generally accepted accounting principle) net income and EPS of -$32.6 million and $-$0.21, respectively—compared to the net income and EPS of -$43.0 million and -$0.28 in the second quarter of 2017.

In the first half of 2018, Alkermes reported a GAAP net income and EPS of -$95.2 million and -$0.61—compared to the net income and EPS of -$111.9 million and -$0.73 in the same period in 2017.

In the first half of 2018, Alkermes reported a non-GAAP EPS of $0.20—compared to the non-GAAP EPS of -$1.17 in the first half of 2017.

Expense trends

In the second quarter, Alkermes reported an expenditure of $43.4 million on goods manufactured and sold—compared to $39.8 million in the second quarter of 2017.

In the second quarter, Alkermes reported research and development and selling, general, and administrative expenses of $106.8 million and $138.3 million, respectively—compared to $99.2 million and $109.0 million in the second quarter of 2017.

Alkermes reported an expenditure on the amortization of acquired intangible assets of $16.2 million in the second quarter—compared to $15.5 million in the second quarter of 2017.

In the first half of 2018, Alkermes reported net operating expenses of $591.8 million—compared to $526.0 million in the same period in 2017.

Alkermes’ peers in the biopharmaceuticals market, BioMarin Pharmaceutical (BMRN), Seattle Genetics (SGEN), and Alnylam Pharmaceuticals (ALNY) reported revenues of $372.9 million, $170.1 million, and $29.9 million, respectively, in the second quarter.

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