Alkermes Inc. plc (NASDAQ:ALKS) stock is trading higher on Tuesday following the announcement of positive topline results from the REVITALYZ phase 3 study evaluating LUMRYZ extended-release oral suspension for excessive daytime sleepiness associated with idiopathic hypersomnia.

The stock’s movement comes as the Healthcare sector is currently the best-performing sector, gaining 2.43%, while the broader market is mixed, with the S&P 500 down 0.7%.

Study Meets Primary And Secondary Endpoints

The REVITALYZ study demonstrated that LUMRYZ met all primary and key secondary endpoints, showing statistically significant improvements compared to placebo in excessive daytime sleepiness and patient-reported disease severity.

Alkermes plans to file a supplemental New Drug Application with the FDA by the end of 2026 based on these positive results.

The FDA approves LUMRYZ for excessive daytime sleepiness ...