Alkermes Plc · NASDAQ:ALKS
Alkermes — Investor Presentation (January 2026)
29 slides from Alkermes's investor presentation, Jan 12, 2026
Slide 1: Alkermes 2026: Driving Profitable Growth in Neuroscience and Leading Orexin Innovation
Alkermes 2026: Driving Profitable Growth in Neuroscience and Leading Orexin Innovation January 2026 Exhibit 99.1
Slide 2: Forward-Looking Statements
Forward-Looking Statements 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: Alkermes plc’s (the “Company” or “Alkerme
Slide 3: Alkermes in 2026: Strong Foundation for Near- and Long-term Growth and Value Creation
Alkermes in 2026: Strong Foundation for Near- and Long-term Growth and Value Creation Commercial business generated total revenues >$1.45B, strong cash flow and profitability in 2025; Planned acquisition of Avadel augments revenue growth profile and profitability Alixorexton: Blockbuster potential i
Slide 4: Orexin Receptor Agonist Class Represents Multi-billion Opportunity in Sleep
Orexin 2 Receptor Agonist Class Represents Multi-billion Opportunity in Sleep and Potential New Vertical of Growth and Expansion Strong biological rationale: Orexin circuitry is the master regulator of wakefulness*; Robust efficacy demonstrated in multiple studies in patients with narcolepsy Potenti
Slide 5: Significant Market Opportunity in Narcolepsy and Idiopathic Hypersomnia
Significant Market Opportunity in Narcolepsy and Idiopathic Hypersomnia ~80,000 Treated narcolepsy patients 80% report residual symptomsc Idiopathic Hypersomnia (IH) Narcolepsy For illustrative purposes only aNarcolepsy Network Fast Facts; bCohen et al., Sleep Med 43:14 (2018) and Longstreth et al.,
Slide 6: Rapidly Advancing Alixorexton and Establishing Leadership Position in Sleep Medicine
Rapidly Advancing Alixorexton and Establishing Leadership Position in Sleep Medicine H2 2025 accomplishments: Completed robust alixorexton Vibrance phase 2 studies in NT1 and NT2 Announced positive topline data from both Vibrance-1 and Vibrance-2 Vibrance-1 data presented at World Sleep 2025 Announc
Slide 7: Alixorexton Vibrance Program: Positive Data in Large, Multi-week Narcolepsy Studies
Alixorexton Vibrance Program: Positive Data in Large, Multi-week Narcolepsy Studies Narcolepsy Type 1 N=92 Narcolepsy Type 2 N=93 Statistically significant and clinically meaningful improvements in mean sleep latency and excessive daytime sleepiness Statistically significant and clinically meaningfu
Slide 8: Vibrance Phase 2 Program Provides Strong Foundation for Alixorexton Registrational Program
Vibrance Phase 2 Program Provides Strong Foundation for Alixorexton Registrational Program in Narcolepsy 6-8 weeks of randomized, placebo-controlled efficacy data; durability of effect through 13 weeks Vibrance-1: Normalization of wakefulness and excessive daytime sleepiness scoresa,b; clinically me
Slide 9: Vibrance-3 Alixorexton Idiopathic Hypersomnia Phase 2 Study
Vibrance-3 Alixorexton Idiopathic Hypersomnia Phase 2 Study Enrollment underway of once-daily dosing regimens 10mg, 14mg, 18mg, placebo Planned initiation of new split dose arms in Q2 2026 Primary endpoint: Change from baseline in Epworth Sleepiness Scale (ESS) score at week 8 Secondary endpoint: Ch
Slide 10: From Vibrance to Brilliance: Alixorexton Phase 3 Program in Narcolepsy
From Vibrance to Brilliance: Alixorexton Phase 3 Program in Narcolepsy Planned to Initiate in Q1 2026 Registrational Program Goals Brilliance Phase 3 Program Accelerate time to market Align with regulatory authorities Confirm and build on generally well-tolerated safety profile Elaborate differentia
Slide 11: Strong Momentum Across Alixorexton Development Program Expected to Continue into 2026
Q4 2026 Q3 2026 Q2 2026 Q1 2026 Strong Momentum Across Alixorexton Development Program Expected to Continue into 2026 Narcolepsy Idiopathic Hypersomnia End-of-phase 2 meeting with FDA Initiate Brilliance phase 3 program SLEEP 2026 Sleep Europe 2026 Vibrance-3: Complete enrollment of once-daily dosin
Slide 12: Sleep-Wake Dysregulation Opens Up Major New Opportunities for Pharmaceutical Development
Chronic sleep-wake dysregulation contributes to development and progression of disease Sleep-Wake Dysregulation Opens Up Major New Opportunities for Pharmaceutical Development Neurological Sleep‑wake disruption impairs cognition and emotional control and is increasingly linked to neurodegenerative d
Slide 13: Alkermes Orexin Receptor Agonist Portfolio Development Strategy
Alkermes Orexin 2 Receptor Agonist Portfolio Development Strategy Stepwise progression planned based on growing body of clinical and preclinical evidence Alixorexton ALKS 7290 & ALKS 4510 Narcolepsy type 1 Narcolepsy type 2 Idiopathic hypersomnia ALKS 7290: Attention-deficit hyperactivity disorder (
Slide 14: ALKS 7290 in ADHD: Clinical Proof-of-Concept Data Expected this Year
Attention-Deficit Hyperactivity Disorder ALKS 7290 in ADHD: Clinical Proof-of-Concept Data Expected this Year Neurological condition characterized by persistent difficulty in maintaining attention and concentration, frequently accompanied by hyperactive and impulsive behavior Significant unmet need
Slide 15: ALKS 4510 in Fatigue Associated with MS and Parkinson's Disease
Fatigue ALKS 4510 in Fatigue Associated with Multiple Sclerosis and Parkinson’s Disease: Planned Phase 2 Study in 2026 Fatigue represents a broad opportunity across multiple disease states Fatigue associated with neurodegenerative conditions provides well-defined patient population with significant
Slide 16: Profitable Commercial Neuroscience Business with New Potential Growth Driver
Profitable Commercial Neuroscience Business with New Potential Growth Driver
Slide 17: Alkermes' Innovation is Funded by Strong Commercial Business Across Key Therapeutic Areas
Alkermes’ Innovation is Funded by Strong Commercial Business Across Key Therapeutic Areas in Neuroscience Psychiatry Addiction Sleep Medicine Alcohol dependence Opioid dependence Schizophrenia Bipolar I disorder Schizophrenia Narcolepsy Full prescribing information for LUMRYZ, including Boxed Warnin
Slide 18: Planned Acquisition of Avadel Offers Strong Strategic and Financial Benefits
Planned Acquisition of Avadel Offers Strong Strategic and Financial Benefits Assumes closing of the proposed acquisition Source: Avadel Pharmaceuticals corporate presentation Aug. 7, 2025 and Q3 2025 financial results press release Nov. 4, 2025 Augments revenue growth profile and diversifies Alkerme
Slide 19: Experienced Commercial Enterprise with Diverse and Growing Neuroscience Portfolio
$1,218 $1,315 Experienced Commercial Enterprise with Diverse and Growing Neuroscience Portfolio *Inclusive of ARISTADA INITIO® **Licensed product (royalty & manufacturing revenue) Key Product Revenues ($M) $715 $893 Discovered and developed 4 approved drugs across addiction, psychiatry and neurology
Slide 20: Alkermes Pipeline: Expanding and Advancing in 2026
Alkermes Pipeline: Expanding and Advancing in 2026 Discovery Preclinical Phase 1 Phase 2 Phase 3 Next Expected Milestone Phase 3 initiation Q1 2026 Phase 2 Data Phase 3 initiation Q1 2026 Phase 2 completion Q4 2026 Phase 2 initiation H2 2026 Avadel Pipeline Valiloxybate Extended-Release Salt-Free Ox
Slide 21: Alkermes in 2026: Strong Foundation for Near- and Long-term Growth and Value Creation
Alkermes in 2026: Strong Foundation for Near- and Long-term Growth and Value Creation Commercial business generated total revenues >$1.45B, strong cash flow and profitability in 2025; Planned acquisition of Avadel augments revenue growth profile and profitability Alixorexton: Blockbuster potential i
Slide 22: Appendix
Appendix
Slide 23: Vibrance-1 & Vibrance-2: Alixorexton Was Generally Well Tolerated at All Doses Tested
Vibrance-1 (NT1) & Vibrance-2 (NT2) Phase 2 Studies: Alixorexton was Generally Well Tolerated at All Doses Tested Most TEAEs were mild to moderate in severity Vibrance-1: Most commonly reported TEAEsb: pollakiuria, insomnia, salivary hypersecretion, micturition urgency, blurred vision Vibrance-2a: M
Slide 24: Vibrance-1 Primary Endpoint: Mean Sleep Latency on the MWT
Vibrance-1 Primary Endpoint: Mean Sleep Latency on the MWT Alixorexton Achieved Normative Wakefulness at All Doses Primary Endpoint Analysis at Week 6 Alixorexton once daily Change from baseline at Week 6 (minutes)a PBO (N=23) 4 mg (N=23) 6 mg (N=22) 8 mg (N=24) LSM -0.6 21.6 23.5 25.5 (95% CI of LS
Slide 25: Vibrance-1 Key Secondary Endpoint: Epworth Sleepiness Scale
Vibrance-1 Key Secondary Endpoint: Epworth Sleepiness Scale Alixorexton Achieved Normative Wakefulness at All Doses aANCOVA model. Missing data were imputed using multiple imputation. 1. Johns MW, Sleep 1991; 14: 540-5. ANCOVA = analysis of covariance; CI = confidence interval; ESS = Epworth Sleepin
Slide 26: Vibrance-1 Key Secondary Endpoint: WCR at Week 6
Vibrance-1 Key Secondary Endpoint: WCR at Week 6 Showed Alixorexton Reduced Cataplexy Events Versus Placebo Key Secondary Endpoint Analysis Alixorexton once daily WCR at Week 6a,c PBO (N=23) 4 mg (N=23) 6 mg (N=22) 8 mg (N=24) Mean incidence rate 13.1 6.4 4.0 8.4 (95% CI of incidence rate) (7.5, 22.
Slide 27: Vibrance-2 Dual-Primary Endpoint: Epworth Sleepiness Scale
Vibrance-2 Dual-Primary Endpoint: Alixorexton Improved Excessive Daytime Sleepiness Symptoms Across All Doses (Epworth Sleepiness Scale) aANCOVA model. Missing data were imputed using multiple imputation. *Statistically significant following multiplicity adjustment. 1. Johns MW, Sleep 1991; 14: 540-
Slide 28: Vibrance-2 Dual-Primary Endpoint: Mean Sleep Latency (Maintenance of Wakefulness Test)
Vibrance-2 Dual-Primary Endpoint: Alixorexton Demonstrated Clinically Meaningful Improvements in Mean Sleep Latency at All Doses (Maintenance of Wakefulness Test) Primary Endpoint Analysis at Week 8 Alixorexton once daily Change from baseline at Week 8 (minutes)a PBO (N=24) 10 mg (N=23) 14 mg (N=22)
Slide 29: www.alkermes.com © 2026 Alkermes. All rights reserved.
www.alkermes.com © 2026 Alkermes. All rights reserved.