Alkermes completes transfer of its oncology business to Mural Oncology
Alkermes plc announced that it has completed the separation of its oncology business into Mural Oncology plc , a new, independent, publicly traded company
Alkermes is now a pure-play, profitable neuroscience company that will continue its work to develop innovative medicines for people living with difficult-to-treat psychiatric and neurological disorders. Mural Oncology will begin "regular way" trading on the Nasdaq Global Market under the stock ticker symbol "MURA" on November. 16, 2023. Alkermes will continue to trade under the Nasdaq ticker symbol "ALKS." "The separation of our oncology business was an important element of our strategy to transform Alkermes into a pure-play neuroscience company with the potential to generate strong profitability and cash flow. With a topline driven by the growth of our proprietary commercial products, proven drug development capabilities, and an important pipeline opportunity in our ALKS 2680 orexin program, we believe we are well positioned to drive value for Alkermes shareholders," said Richard Pops, Chief Executive Officer of Alkermes.
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