Alkermes Shares Soar More Than 40% After Depression Drug Results

Alkermes PLC shares surged in the extended session Thursday after the biotech announced promising results from a late-stage clinical study of its depression treatment. Alkermes shares jumped 46% to $63.50 after hours. The company said its study of ALKS 5461, its depression treatment candidate, significantly reduced symptoms in patients with major depression disorder compared with a placebo. Based on the results, Alkeremes said it plans to request a meeting with the Food and Drug Administration to discuss a marketing application strategy for the drug.