Slide 1: First Quarter 2023 Financial Results & Business Update
First Quarter 2023 Financial Results & Business Update April 26, 2023 © 2023 2021 Alkermes. All rights reserved.
Slide 2: Forward-Looking Statements and Non-GAAP Financial Information
Forward-Looking Statements and Non-GAAP Financial Information Certain statements set forth in this presentation constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, but not limited to, statements concerning: Alkerm
Slide 3: Agenda
Agenda • Introduction Sandy Coombs, SVP, Investor Relations & Corporate Affairs • Opening Remarks Richard Pops, Chief Executive Officer • Q1 2023 Financial Results Iain Brown, Chief Financial Officer • Q1 2023 Commercial Review Todd Nichols, Chief Commercial Officer • Business Update Richard Pops, C
Slide 4: Q1 2023 Financial Performance
Q1 2023 Financial Performance
Slide 5: Q1 2023 Financial Results Summary
Q1 2023 Financial Results Summary** Total Revenue GAAP Net Loss Non-GAAP Net Income* In millions In millions In millions $287.6 $278.5 $19.6 ($35.9) ($41.8) $2.4 Q1 2022 Q1 2023 Q1 2022 Q1 2023 Q1 2022 Q1 2023 *Reconciliation of this non-GAAP financial measure to the most directly comparable GAAP fi
Slide 6: Q1 2023 Revenue Summary
Q1 2023 Revenue Summary ∆ In millions, except % Q1’23 Q1’22 Q1’23 vs. Q1’22 Total Proprietary Net Sales $214.7 $171.3 25% VIVITROL® $96.7 $84.9 14% ARISTADA®* $80.1 $72.5 10% LYBALVI®† $38.0 $13.9 173% Manufacturing & Royalty Revenue** $72.9 $105.2 (31%) License Revenue - $2.0 NA Research & Developm
Slide 7: Alkermes: 2023 Financial Expectations
Alkermes: 2023 Financial Expectations* Financial Expectations for (in millions, except per share amounts) Year Ending Dec. 31, 2023 Total Revenues $1,130 – $1,250 Total Revenues Breakdown: COGS $230 – $250 • Expected net sales of proprietary products: R&D Expense $370 – $400 o VIVITROL® net sales of
Slide 8: Q1 2023 Commercial Review
Q1 2023 Commercial Review
Slide 9: Topline Growth and Diversification Reflect Evolving Business
Topline Growth and Diversification Reflect Evolving Business Key Product Revenues ($M) $1,000 $900 $800 $700 $600 $500 $400 $300 $200 $100 $0 FY'18 FY'19 FY'20 FY'21 FY'22 Q1'23 R12M VIVITROL® ARISTADA®* VUMERITY®** LYBALVI® *Inclusive of ARISTADA INITIO® **Licensed product (royalty & manufacturing
Slide 10: LYBALVI Prescription Growth Trends
LYBALVI® Prescription Growth Trends Post-Launch TRx* (Through 4/14/23) 3,000 Q1’23 total TRx: 2,750 • ~33,000 reflecting 16% sequential 2,500 growth compared to Q4’22 2,250 2,000 ~9,300 prescribers had written a 1,750 prescription for LYBALVI 1,500 TRx (as of 3/31/23) since launch 1,250 1,000 750 50
Slide 11: LYBALVI Performance and Expectations
LYBALVI® Performance and Expectations LYBALVI Quarterly Net Sales ($M) $40 Q1’23 net sales of $38.0M reflect 9% sequential growth compared to Q4’22 $35 • Q1’23 gross-to-net deductions: ~26%, primarily $30 reflecting the continuation of less restrictive initial $25 commercial payer coverage $20 Outlo
Slide 12: ARISTADA Performance and Expectations
ARISTADA® Performance and Expectations ARISTADA Quarterly Net Sales ($M)* $90 Q1’23 year-over-year net sales increased 10% to $80.1M $80 $70 Outlook: $60 • FY’23 net sales expected to range from $315M – $345M†* $50 $40 $30 $20 $10 $0 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 *Inclusive o
Slide 13: VIVITROL Performance and Expectations
VIVITROL® Performance and Expectations VIVITROL Quarterly Net Sales ($M) $120 Q1’23 year-over-year net sales increased 14% to $96.7M $100 Outlook: $80 • FY’23 net sales expected to range from $380M – $410M* $60 $40 $20 $0 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 *These expectations were
Slide 14: Business Update
Business Update
Slide 15: Clear Priorities to Unlock Value in 2023
Clear Priorities to Unlock Value in 2023 2023 Business Priorities and Value Drivers 1 2 3 Drive launch of LYBALVI® Advance orexin 2 receptor agonist Separate oncology business Continued execution of commercial Establish initial safety and tolerability Clarify value proposition for standalone strateg
Slide 16: Oncology Business Separation Updates
Oncology Business Separation Updates Submitted initial confidential Requested IRS Private Letter Advanced in process to New company to be known draft Form 10 registration Ruling to support separation identify and recruit as Mural Oncology plc statement to SEC of oncology business as senior leadershi
Slide 17: ALKS 2680 Clinical Development Plan
ALKS 2680 Clinical Development Plan Targeting Clinical Proof-of-Concept Data by Year-End 2023 Phase 1 First-in-Human (FIH) Studies Phase 1b Proof-of-Concept (POC) Study • Objective: Measure and model pharmacokinetics (PK)/ • Objective: Early POC data + dose range estimation for phase pharmacodynamic
Slide 18: Appendix
Appendix Confidential, Internal Use Only
Slide 19: Appendix: Financial Results GAAP to Non-GAAP Adjustments
Appendix: Financial Results GAAP to Non-GAAP Adjustments Three Months Ended (In millions) March 31, 2023 Net Loss — GAAP $ (41.8) Adjustments: Share-based compensation expense 22.6 Depreciation expense 9.9 Amortization expense 8.8 Separation expense 3.8 Income tax effect related to reconciling items
Slide 20: Appendix: 2023 Guidance GAAP to Non-GAAP Adjustments
Appendix: 2023 Guidance GAAP to Non-GAAP Adjustments Year Ended (Loss) Earnings (In millions, except per share data) December 31, 2023 Shares+ Per Share Projected Net Loss — GAAP $ (180.0) 166.5 $ (1.08) Adjustments: Share-based compensation expense 97.5 Depreciation expense 42.5 Amortization expens
Slide 21: www.alkermes.com
www.alkermes.com © 2023 2021 Alkermes. All rights reserved.