10-Q 1 alks-10q_20220630.htm 10-Q alks-10q_20220630.htm
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 10-Q

 

(Mark One)

 

 

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended June 30, 2022

 

OR

 

 

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

Commission File Number 001-35299

ALKERMES PUBLIC LIMITED COMPANY

(Exact name of registrant as specified in its charter)

 

 

 

 

Ireland

 

98-1007018

(State or other jurisdiction of incorporation or organization)

 

(I.R.S. Employer Identification No.)

 

Connaught House

1 Burlington Road

Dublin 4Ireland, D04 C5Y6

(Address of principal executive offices)

 

+ 353-1-772-8000

(Registrant’s telephone number, including area code)

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading Symbol(s)

 

Name of each exchange on which registered

Ordinary shares, $0.01 par value

 

ALKS

 

Nasdaq Global Select Market

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes   No 

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes  No 

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

 

 

 

Large accelerated filer

 

Accelerated filer

Non-accelerated filer

 

Smaller reporting company

 

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes   No 

 

The number of the registrant’s ordinary shares, $0.01 par value, outstanding as of July 22, 2022 was 164,254,275 shares.

 

 

 

 

 

 


 

 

ALKERMES PLC AND SUBSIDIARIES

QUARTERLY REPORT ON FORM 10-Q

FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2022

 

 

 

 

 

Page No.

PART I - FINANCIAL INFORMATION

 

Item 1.

Condensed Consolidated Financial Statements (unaudited):

 

 

Condensed Consolidated Balance Sheets — June 30, 2022 and December 31, 2021

5

 

Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income — For the Three and Six Months Ended June 30, 2022 and 2021

6

 

Condensed Consolidated Statements of Cash Flows — For the Six Months Ended June 30, 2022 and 2021

7

 

Condensed Consolidated Statements of Shareholders’ Equity — For the Three and Six Months Ended June 30, 2022 and 2021

8

 

Notes to Condensed Consolidated Financial Statements

10

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

23

Item 3.

Quantitative and Qualitative Disclosures about Market Risk

37

Item 4.

Controls and Procedures

37

 

 

PART II - OTHER INFORMATION

 

Item 1.

Legal Proceedings

38

Item 1A.

Risk Factors

38

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

38

Item 5.

Other Information

38

Item 6.

Exhibits

39

Signatures

40

 

2


 

 

Cautionary Note Concerning Forward-Looking Statements

This document contains and incorporates by reference “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). In some cases, these statements can be identified by the use of forward-looking terminology such as “may,” “will,” “could,” “should,” “would,” “expect,” “anticipate,” “continue,” “believe,” “plan,” “estimate,” “intend,” or other similar words. These statements discuss future expectations and contain projections of results of operations or of financial condition, or state trends and known uncertainties or other forward-looking information. Forward‑looking statements in this Quarterly Report on Form 10-Q (this “Form 10-Q”) may include, without limitation, statements regarding:

 

our expectations regarding our financial performance, including revenues, expenses, liquidity, capital expenditures and income taxes;

 

our expectations regarding our products, including expectations related to product development; regulatory filings, approvals and timelines; therapeutic and commercial value, scope and potential; and the costs and expenses related to such activities and expectations;

 

our expectations regarding the initiation, timing and results of clinical trials of our products;

 

our expectations regarding the competitive, payer, legislative, regulatory and policy landscape, and changes therein, related to our products, including competition from generic forms of our products or competitive products and development programs; barriers to access or coverage of our products and potential changes in reimbursement of our products; and legislation, regulations, executive orders, guidance or other measures that may impact pricing and reimbursement of, and access to, our products;

 

our expectations regarding the financial impact of currency exchange rate fluctuations and valuations;

 

our expectations regarding future amortization of intangible assets;

 

our expectations regarding collaborations, licensing arrangements and other significant agreements with third parties relating to our products and our development programs;

 

our expectations regarding the impact of new legislation, rules and regulations and the adoption of new accounting pronouncements;

 

our expectations regarding near‑term changes in the nature of our market risk exposures or in our management’s objectives and strategies with respect to managing such exposures;

 

our expectations regarding our ability to comply with restrictive covenants of our indebtedness and our ability to fund our debt service obligations;

 

our expectations regarding future capital requirements and expenditures for our operations and our ability to finance such capital requirements and expenditures;

 

our expectations regarding the timing, outcome and impact of administrative, regulatory, legal and other proceedings related to our products and intellectual property (“IP”), including our patents;

 

our expectations regarding the impact of the ongoing novel coronavirus (“COVID-19”) pandemic on our business and operations; and

 

other expectations discussed elsewhere in this Form 10-Q.

Actual results might differ materially from those expressed or implied by these forward-looking statements because these forward-looking statements are subject to risks, assumptions and uncertainties. In light of these risks, assumptions and uncertainties, the forward-looking expectations discussed in this Form 10-Q might not occur. You are cautioned not to place undue reliance on the forward-looking statements in this Form 10-Q, which speak only as of the date of this Form 10-Q. All subsequent written and oral forward-looking statements concerning the matters addressed in this Form 10-Q and attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Except as required by applicable law or regulation, we do not undertake any obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For information about the risks, assumptions and uncertainties of our business, see “Part I, Item 1A—Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2021, filed

3


 

with the United States (“U.S.”) Securities and Exchange Commission (the “SEC”) on February 16, 2022, as amended by our Amendment No. 1 to Annual Report on Form 10-K/A, filed with the SEC on April 29, 2022 (our “Annual Report”).

This Form 10-Q may include data that we obtained from industry publications and third-party research, surveys and studies. Industry publications and third-party research, surveys and studies generally indicate that their information has been obtained from sources believed to be reliable, although they do not guarantee the accuracy or completeness of such information. While we believe that any industry publications and third-party research, surveys and studies from which data is included in this Form 10-Q are reliable, we have not independently verified any such data. This Form 10-Q may also include data based on our own internal estimates and research. Our internal estimates and research have not been verified by any independent source and are necessarily subject to a high degree of uncertainty and risk due to a variety of factors, including those described in “Part I, Item 1A—Risk Factors” in our Annual Report. These and other factors could cause our results to differ materially from those expressed or implied in this Form 10-Q.

Note Regarding Company and Product References

Alkermes plc is a fully-integrated, global biopharmaceutical company that applies its scientific expertise and proprietary technologies to research, develop and commercialize, both with partners and on its own, pharmaceutical products that are designed to address unmet medical needs of patients in major therapeutic areas. We have a portfolio of proprietary commercial products focused on alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder, and a pipeline of product candidates in development for neurodegenerative disorders and cancer. Use of terms such as “us,” “we,” “our,” “Alkermes” or the “Company” in this Form 10-Q is meant to refer to Alkermes plc and its consolidated subsidiaries. Except as otherwise suggested by the context, (a) references to “products” or “our products” in this Form 10-Q include our marketed products, marketed products using our proprietary technologies, our licensed products, our product candidates and product candidates using our proprietary technologies, (b) references to the “biopharmaceutical industry” in this Form 10-Q are intended to include reference to the “biotechnology industry” and/or the “pharmaceutical industry” and (c) references to “licensees” in this Form 10-Q are used interchangeably with references to “partners.”

Note Regarding Trademarks

We are the owner of various U.S. federal trademark registrations (“®”) and other trademarks (“TM”), including ALKERMES®, ARISTADA®, ARISTADA INITIO®, LinkeRx®, LYBALVI®, NanoCrystal® and VIVITROL®.

The following are trademarks of the respective companies listed: ANJESO®—Baudax Bio, Inc.; BYANNLI®, INVEGA®, INVEGA HAFYERA®, INVEGA SUSTENNA®, INVEGA TRINZA®, TREVICTA®, XEPLION®, and RISPERDAL CONSTA®—Johnson & Johnson Corporation (or its affiliates); KEYTRUDA®—Merck Sharp & Dohme Corp.; and VUMERITY®—Biogen MA Inc. (together with its affiliates, “Biogen”). Other trademarks, trade names and service marks appearing in this Form 10-Q are the property of their respective owners. Solely for convenience, the trademarks and trade names in this Form 10-Q may be referred to without the ® and TM symbols, but such references should not be construed as any indicator that their respective owners will not assert, to the fullest extent under applicable law, their rights thereto.

4


 

PART I. FINANCIAL INFORMATION

Item 1. Condensed Consolidated Financial Statements:

ALKERMES PLC AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(unaudited)

 

 

 

June 30, 2022

 

December 31, 2021

 

 

(In thousands, except share and per share amounts)

ASSETS

 

 

 

 

CURRENT ASSETS:

 

 

 

 

Cash and cash equivalents

 

$254,646

 

$337,544

Receivables, net

 

245,840

 

313,193

Investments—short-term

 

326,321

 

198,767

Inventory

 

155,608

 

150,335

Contract assets

 

16,486

 

13,363

Prepaid expenses and other current assets

 

47,090

 

48,967

Total current assets

 

1,045,991

 

1,062,169

PROPERTY, PLANT AND EQUIPMENT, NET

 

337,146

 

341,054

INVESTMENTS—LONG-TERM

 

179,010

 

229,430

RIGHT-OF-USE ASSETS

 

111,119

 

115,627

INTANGIBLE ASSETS, NET

 

56,011

 

74,043

GOODWILL

 

92,873

 

92,873

DEFERRED TAX ASSETS

 

123,702

 

81,833

OTHER ASSETS

 

11,565

 

27,455

TOTAL ASSETS

 

$1,957,417

 

$2,024,484

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

 

 

 

CURRENT LIABILITIES:

 

 

 

 

Accounts payable and accrued expenses

 

$186,814

 

$208,491

Accrued sales discounts, allowances and reserves

 

228,973

 

237,216

Operating lease liabilities—short-term

 

15,944

 

16,240

Contract liabilities—short-term

 

3,787

 

6,339

Current portion of long-term debt

 

3,000

 

3,000

Total current liabilities

 

438,518

 

471,286

LONG-TERM DEBT

 

291,537

 

292,804

OPERATING LEASE LIABILITIES—LONG-TERM

 

99,832

 

104,162

OTHER LONG-TERM LIABILITIES

 

45,206

 

43,648

Total liabilities

 

875,093

 

911,900

COMMITMENTS AND CONTINGENT LIABILITIES (Note 15)

 

 

 

 

SHAREHOLDERS’ EQUITY:

 

 

 

 

Preferred shares, par value, $0.01 per share; 50,000,000 shares authorized; zero issued and outstanding at June 30, 2022 and December 31, 2021, respectively

 

 

Ordinary shares, par value, $0.01 per share; 450,000,000 shares authorized; 168,782,701 and 165,790,549 shares issued; 164,232,704 and 161,937,327 shares outstanding at June 30, 2022 and December 31, 2021, respectively

 

1,688

 

1,658

Treasury shares, at cost (4,549,997 and 3,853,222 shares at June 30, 2022 and December 31, 2021, respectively)

 

(160,241)

 

(142,658)

Additional paid-in capital

 

2,858,422

 

2,798,325

Accumulated other comprehensive loss

 

(10,488)

 

(3,723)

Accumulated deficit

 

(1,607,057)

 

(1,541,018)

Total shareholders’ equity

 

1,082,324

 

1,112,584

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

 

$1,957,417

 

$2,024,484

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

5


 

ALKERMES PLC AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME

(unaudited)

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

(In thousands, except per share amounts)

 

REVENUES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Product sales, net

 

$

190,787

 

 

$

160,808

 

 

$

362,055

 

 

$

290,771

 

Manufacturing and royalty revenues

 

 

85,326

 

 

 

142,294

 

 

 

190,496

 

 

 

262,141

 

License revenue

 

 

 

 

 

 

 

 

2,000

 

 

 

1,500

 

Research and development revenue

 

 

106

 

 

 

615

 

 

 

213

 

 

 

735

 

Total revenues

 

 

276,219

 

 

 

303,717

 

 

 

554,764

 

 

 

555,147

 

EXPENSES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of goods manufactured and sold (exclusive of amortization of acquired intangible assets shown below)

 

 

58,360

 

 

 

53,124

 

 

 

113,519

 

 

 

94,144

 

Research and development

 

 

92,873

 

 

 

97,473

 

 

 

188,826

 

 

 

189,741

 

Selling, general and administrative

 

 

150,377

 

 

 

139,188

 

 

 

295,429

 

 

 

264,356

 

Amortization of acquired intangible assets

 

 

9,066

 

 

 

9,511

 

 

 

18,032

 

 

 

18,917

 

Total expenses

 

 

310,676

 

 

 

299,296

 

 

 

615,806

 

 

 

567,158

 

OPERATING (LOSS) INCOME

 

 

(34,457

)

 

 

4,421

 

 

 

(61,042

)

 

 

(12,011

)

OTHER (EXPENSE) INCOME, NET:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

 

896

 

 

 

623

 

 

 

1,469

 

 

 

1,487

 

Interest expense

 

 

(2,369

)

 

 

(2,407

)

 

 

(4,719

)

 

 

(6,377

)

Change in the fair value of contingent consideration

 

 

870

 

 

 

3,240

 

 

 

(18,197

)

 

 

4,518

 

Other income (expense), net

 

 

1,810

 

 

 

(222

)

 

 

4,241

 

 

 

(615

)

Total other (expense) income, net

 

 

1,207

 

 

 

1,234

 

 

 

(17,206

)

 

 

(987

)

(LOSS) EARNINGS BEFORE INCOME TAXES

 

 

(33,250

)

 

 

5,655

 

 

 

(78,248

)

 

 

(12,998

)

INCOME TAX (BENEFIT) PROVISION

 

 

(3,114

)

 

 

3,291

 

 

 

(12,209

)

 

 

7,056

 

NET (LOSS) INCOME

 

$

(30,136

)

 

$

2,364

 

 

$

(66,039

)

 

$

(20,054

)

(LOSS) EARNINGS PER ORDINARY SHARE:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

$

(0.18

)

 

$

0.01

 

 

$

(0.40

)

 

$

(0.13

)

WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES OUTSTANDING:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

163,839

 

 

 

160,817

 

 

 

163,165

 

 

 

160,229

 

Diluted

 

 

163,839

 

 

 

163,937

 

 

 

163,165

 

 

 

160,229

 

COMPREHENSIVE (LOSS) INCOME:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income

 

$

(30,136

)

 

$

2,364

 

 

$

(66,039

)

 

$

(20,054

)

Holding loss, net of a tax (benefit) provision of $326, $(79), $(1,055) and $(253), respectively

 

 

(2,254

)

 

 

(272

)

 

 

(6,765

)

 

 

(873

)

COMPREHENSIVE (LOSS) INCOME

 

$

(32,390

)

 

$

2,092

 

 

$

(72,804

)

 

$

(20,927

)

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

6


 

ALKERMES PLC AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)

 

 

 

Six Months Ended

 

 

 

June 30,

 

 

 

2022

 

 

2021

 

 

 

(In thousands)

 

CASH FLOWS FROM OPERATING ACTIVITIES:

 

 

 

 

 

 

 

 

Net loss

 

$

(66,039

)

 

$

(20,054

)

Adjustments to reconcile net loss to cash flows from operating activities:

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

38,588

 

 

 

38,119

 

Share-based compensation expense

 

 

41,720

 

 

 

43,003

 

Deferred income taxes

 

 

(40,815

)

 

 

10,806

 

Change in the fair value of contingent consideration

 

 

18,197

 

 

 

(4,518

)

Loss on debt extinguishment

 

 

 

 

 

171

 

Other non-cash charges

 

 

637

 

 

 

1,302

 

Changes in assets and liabilities:

 

 

 

 

 

 

 

 

Receivables

 

 

67,382

 

 

 

(22,194

)

Contract assets

 

 

(3,123

)

 

 

5,607

 

Inventory

 

 

(4,569

)

 

 

(11,232

)

Prepaid expenses and other assets

 

 

(1,986

)

 

 

2,029

 

Right-of-use assets

 

 

8,331

 

 

 

8,595

 

Accounts payable and accrued expenses

 

 

(29,045

)

 

 

(52,629

)

Contract liabilities

 

 

(4,071

)

 

 

(3,108

)

Operating lease liabilities

 

 

(8,911

)

 

 

(7,821

)

Other long-term liabilities

 

 

3,076

 

 

 

(159

)

Cash flows provided by (used in) operating activities

 

 

19,372

 

 

 

(12,083

)

CASH FLOWS FROM INVESTING ACTIVITIES:

 

 

 

 

 

 

 

 

Additions of property, plant and equipment

 

 

(17,753

)

 

 

(14,546

)

Proceeds from the sale of equipment

 

 

 

 

 

177

 

Proceeds from contingent consideration

 

 

1,043

 

 

 

7,889

 

Return of Fountain Healthcare Partners II, L.P. investment

 

 

485

 

 

 

 

Payment made for licensed Intellectual Property ("IP")

 

 

 

 

 

(1,000

)

Purchases of investments

 

 

(194,879

)

 

 

(201,774

)

Sales and maturities of investments

 

 

109,925

 

 

 

175,499

 

Cash flows used in investing activities

 

 

(101,179

)

 

 

(33,755

)

CASH FLOWS FROM FINANCING ACTIVITIES:

 

 

 

 

 

 

 

 

Proceeds from the issuance of ordinary shares under share-based compensation arrangements

 

 

17,992

 

 

 

20,498

 

Employee taxes paid related to net share settlement of equity awards

 

 

(17,583

)

 

 

(11,120

)

Proceeds from the issuance of long-term debt

 

 

 

 

 

23,567

 

Payment made for debt extinguishment

 

 

 

 

 

(977

)

Principal payments of long-term debt

 

 

(1,500

)

 

 

(750

)

Cash flows (used in) provided by financing activities

 

 

(1,091

)

 

 

31,218

 

NET DECREASE IN CASH AND CASH EQUIVALENTS

 

 

(82,898

)

 

 

(14,620

)

CASH AND CASH EQUIVALENTS—Beginning of period

 

 

337,544

 

 

 

272,961

 

CASH AND CASH EQUIVALENTS—End of period

 

$

254,646

 

 

$

258,341

 

SUPPLEMENTAL CASH FLOW DISCLOSURE:

 

 

 

 

 

 

 

 

Non-cash investing and financing activities:

 

 

 

 

 

 

 

 

Purchased capital expenditures included in accounts payable and accrued expenses

 

$

4,863

 

 

$

1,023

 

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

 

 

7


 

 

ALKERMES PLC AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY

(unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Additional

 

 

Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ordinary Shares

 

 

Paid-In

 

 

Comprehensive

 

 

Accumulated

 

 

Treasury Stock

 

 

 

 

 

 

 

Shares

 

 

Amount

 

 

Capital

 

 

Loss

 

 

Deficit

 

 

Shares

 

 

Amount

 

 

Total

 

 

 

(In thousands, except share data)

 

BALANCE — December 31, 2021

 

 

165,790,549

 

 

$

1,658

 

 

$

2,798,325

 

 

$

(3,723

)

 

$

(1,541,018

)

 

 

(3,853,222

)

 

$

(142,658

)

 

$

1,112,584

 

Issuance of ordinary shares under employee stock plans

 

 

1,953,293

 

 

 

19

 

 

 

1,776

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,795

 

Receipt of Alkermes' shares for the exercise of stock options or to satisfy minimum tax withholding obligations related to share-based awards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(678,209

)

 

 

(17,069

)

 

 

(17,069

)

Share-based compensation

 

 

 

 

 

 

 

 

18,494

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

18,494

 

Unrealized loss on marketable securities, net of tax (benefit) of $(1,382)

 

 

 

 

 

 

 

 

 

 

 

(4,511

)

 

 

 

 

 

 

 

 

 

 

 

(4,511

)

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(35,903

)

 

 

 

 

 

 

 

 

(35,903

)

BALANCE — March 31, 2022

 

 

167,743,842

 

 

$

1,677

 

 

$

2,818,595

 

 

$

(8,234

)

 

$

(1,576,921

)

 

 

(4,531,431

)

 

$

(159,727

)

 

$

1,075,390

 

Issuance of ordinary shares under employee stock plans

 

 

1,038,859

 

 

 

11

 

 

 

16,186

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

16,197

 

Receipt of Alkermes' shares for the exercise of stock options or to satisfy minimum tax withholding obligations related to share-based awards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(18,566

)

 

 

(514

)

 

 

(514

)

Share-based compensation

 

 

 

 

 

 

 

 

23,641

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

23,641

 

Unrealized loss on marketable securities, net of tax provision of $326

 

 

 

 

 

 

 

 

 

 

 

(2,254

)

 

 

 

 

 

 

 

 

 

 

 

(2,254

)

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(30,136

)

 

 

 

 

 

 

 

 

(30,136

)

BALANCE — June 30, 2022

 

 

168,782,701

 

 

$

1,688

 

 

$

2,858,422

 

 

$

(10,488

)

 

$

(1,607,057

)

 

 

(4,549,997