) announced that it has received a notice of allowance from the
United States Patent and Trademark Office (USPTO) for U.S.
patent application 14/032,736 (prodrugs of fumarates and
their use in treating various diseases). It covers Alkermes'
early stage multiple sclerosis candidate ALKS 8700. The candidate
is a small-molecule prodrug of monomethyl fumarate (MMF) being
developed for treating patients suffering from multiple
The USPTO issues a notice of allowance only after the patent
application is deemed fit enough to be granted a patent on its
basis. Alkermes stated in its press release that it expects the
above mentioned patent to be issued in the next few months.
Furthermore, the patent is not expected to expire before 2033.
Alkermes intends to file an investigational new drug (IND)
application for ALKS 8700 with the U.S. Food and Drug
Administration (FDA) and move the candidate into phase I studies
in mid 2014. The candidate is being developed under Alkermes' MMF
program. The MMF produgs in this program, including ALKS 8700,
are designed to offer advantages over
) oral MS treatment, Tecfidera.
Although pleased with the progress of ALKS 8700 we believe that
investor focus will remain on Alkermes' late stage/mid stage
candidates, such as ALKS 5461 for treating patients suffering
from major depressive disorder, aripiprazole lauroxil (formerly
known as ALKS 9070) and ALKS 3831 for treating schizophrenia
among others. The pipeline at Alkermes has expanded significantly
following its purchase of Elan's (now a wholly owned subsidiary
Perrigo Company Public Ltd.
) drug delivery unit.
Alkermes currently carries a Zacks Rank #4 (Sell) reflecting
short-term pressure on the stock.
BioMarin Pharmaceutical Inc.
) is an example of a better-ranked stock. It carries a Zacks Rank
ALKERMES INC (ALKS): Free Stock Analysis
BIOGEN IDEC INC (BIIB): Free Stock Analysis
BIOMARIN PHARMA (BMRN): Free Stock Analysis
PERRIGO CO PLC (PRGO): Free Stock Analysis
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