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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 September 30, 2020

 

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, 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 October 23, 2020 was 159,149,785 shares.

 

 

 

 

 

 


 

ALKERMES PLC AND SUBSIDIARIES

QUARTERLY REPORT ON FORM 10-Q

FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2020

 

 

 

 

 

Page No.

PART I - FINANCIAL INFORMATION

 

Item 1.

Condensed Consolidated Financial Statements (unaudited):

 

 

Condensed Consolidated Balance Sheets — September 30, 2020 and December 31, 2019

5

 

Condensed Consolidated Statements of Operations and Comprehensive Loss — For the Three and Nine Months Ended September 30, 2020 and 2019

6

 

Condensed Consolidated Statements of Cash Flows — For the Nine Months Ended September 30, 2020 and 2019

7

 

Condensed Consolidated Statements of Shareholders’ Equity — For the Three and Nine Months Ended September 30, 2020 and 2019

8

 

Notes to Condensed Consolidated Financial Statements

10

Item 2.

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

24

Item 3.

Quantitative and Qualitative Disclosures about Market Risk

37

Item 4.

Controls and Procedures

38

 

 

PART II - OTHER INFORMATION

 

Item 1.

Legal Proceedings

39

Item 1A.

Risk Factors

39

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

39

Item 5.

Other Information

39

Item 6.

Exhibits

40

Signatures

41

 

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”) 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 those expectations related to product development, regulatory filings, regulatory approvals and regulatory timelines, therapeutic and commercial scope and potential, and the costs and expenses related to such activities;

 

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

 

our expectations regarding the competitive, payer, and legislative, regulatory and policy landscape, and changes therein, related to our products, including competition from generic forms of our products or competitive products and competitive development programs, barriers to access or coverage of our products and changes in reimbursement of our products, and legislation, regulations, executive orders, guidance or other measures that may limit 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 our collaborations, licensing arrangements and other significant agreements with third parties relating to our products, including our development programs;

 

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

 

our expectations regarding near‑term changes in the nature of our market risk exposures or in 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 capital expenditures and our ability to finance our operations and capital requirements;

 

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 factors discussed elsewhere in this Form 10-Q.

Actual results might differ materially from those expressed or implied by these forward-looking statements. These forward-looking statements are subject to risks, assumptions and uncertainties. In light of these risks, assumptions and uncertainties, the forward-looking events 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

3


 

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 more information regarding 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, 2019 (the “Annual Report”) and “Part II, Item 1ARisk Factors” in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2020.

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. This Form 10-Q also may include data based on our own internal estimates and research. Our internal estimates and research have not been verified by any independent source and, while we believe the industry publications and third-party research, surveys and studies are reliable, we have not independently verified such data. Such third-party data and our internal estimates and research 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 and “Part II, Item 1A—Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2020. These and other factors could cause our results to differ materially from those expressed in this Form 10-Q.

Note Regarding Company and Product References

Alkermes plc (as used in this report, together with our subsidiaries, “Alkermes,” the “Company,” “us,” “we” and “our”) 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 diversified portfolio of marketed products focused on central nervous system (“CNS”) disorders such as addiction and schizophrenia and a pipeline of product candidates in the fields of neuroscience and oncology. 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 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 United States (“U.S.”) federal trademark registrations (“®”) and other trademarks (“TM”), including ALKERMES®, ARISTADA®, ARISTADA INITIO®, LinkeRx®, NanoCrystal® and VIVITROL®.

The following are trademarks of the respective companies listed: ANJESOTM—Baudax Bio, Inc.; INVEGA SUSTENNA®, INVEGA TRINZA®, TREVICTA®, XEPLION®, and RISPERDAL CONSTA®—Johnson & Johnson (or its affiliates); VUMERITY®—Biogen MA Inc. (together with its affiliates, “Biogen”); and ZYPREXA®Eli Lilly and Company. 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 are 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)

 

 

 

September 30, 2020

 

December 31, 2019

 

 

(In thousands, except share and per share amounts)

ASSETS

 

 

 

 

CURRENT ASSETS:

 

 

 

 

Cash and cash equivalents

 

$240,866

 

$203,771

Investments—short-term

 

328,516

 

331,208

Receivables, net

 

265,644

 

257,086

Contract assets

 

14,395

 

8,386

Inventory

 

122,823

 

101,803

Prepaid expenses and other current assets

 

52,697

 

59,716

Total current assets

 

1,024,941

 

961,970

PROPERTY, PLANT AND EQUIPMENT, NET

 

355,215

 

362,168

INTANGIBLE ASSETS, NET

 

121,108

 

150,643

RIGHT-OF-USE ASSETS

 

106,681

 

12,379

GOODWILL

 

92,873

 

92,873

DEFERRED TAX ASSETS

 

86,336

 

96,558

INVESTMENTS—LONG-TERM

 

27,774

 

79,391

CONTINGENT CONSIDERATION

 

46,200

 

32,400

OTHER ASSETS

 

15,692

 

17,021

TOTAL ASSETS

 

$1,876,820

 

$1,805,403

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

 

 

 

CURRENT LIABILITIES:

 

 

 

 

Accounts payable and accrued expenses

 

$354,780

 

$373,037

Operating lease liabilities—short-term

 

13,375

 

8,466

Contract liabilities—short-term

 

7,153

 

6,766

Long-term debt—short-term

 

2,843

 

2,843

Total current liabilities

 

378,151

 

391,112

LONG-TERM DEBT

 

272,663

 

274,295

OPERATING LEASE LIABILITIES—LONG-TERM

 

96,717

 

5,342

CONTRACT LIABILITIES—LONG-TERM

 

18,635

 

22,068

OTHER LONG-TERM LIABILITIES

 

26,296

 

27,144

Total liabilities

 

792,462

 

719,961

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 September 30, 2020 and December 31, 2019, respectively

 

 

Ordinary shares, par value, $0.01 per share; 450,000,000 shares authorized; 162,208,145 and 160,489,888 shares issued; 159,105,433 and 157,779,002 shares outstanding at September 30, 2020 and December 31, 2019, respectively

 

1,619

 

1,602

Treasury shares, at cost (3,102,712 and 2,710,886 shares at September 30, 2020 and December 31, 2019, respectively)

 

(125,993)

 

(118,386)

Additional paid-in capital

 

2,659,699

 

2,586,030

Accumulated other comprehensive loss

 

(760)

 

(1,816)

Accumulated deficit

 

(1,450,207)

 

(1,381,988)

Total shareholders’ equity

 

1,084,358

 

1,085,442

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

 

$1,876,820

 

$1,805,403

 

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

(unaudited)

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

 

 

(In thousands, except per share amounts)

 

REVENUES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Product sales, net

 

$

142,658

 

 

$

138,774

 

 

$

402,799

 

 

$

374,890

 

Manufacturing and royalty revenues

 

 

120,351

 

 

 

103,783

 

 

 

353,107

 

 

 

340,595

 

Research and development revenue

 

 

953

 

 

 

12,686

 

 

 

1,805

 

 

 

41,732

 

License revenue

 

 

1,050

 

 

 

 

 

 

1,050

 

 

 

1,000

 

Total revenues

 

 

265,012

 

 

 

255,243

 

 

 

758,761

 

 

 

758,217

 

EXPENSES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

43,129

 

 

 

42,319

 

 

 

135,394

 

 

 

133,903

 

Research and development

 

 

94,980

 

 

 

107,671

 

 

 

282,481

 

 

 

314,676

 

Selling, general and administrative

 

 

127,653

 

 

 

148,701

 

 

 

393,049

 

 

 

444,996

 

Amortization of acquired intangible assets

 

 

9,917

 

 

 

10,173

 

 

 

29,535

 

 

 

30,187

 

Total expenses

 

 

275,679

 

 

 

308,864

 

 

 

840,459

 

 

 

923,762

 

OPERATING LOSS

 

 

(10,667

)

 

 

(53,621

)

 

 

(81,698

)

 

 

(165,545

)

OTHER INCOME (EXPENSE), NET:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

 

1,376

 

 

 

3,509

 

 

 

5,924

 

 

 

10,785

 

Interest expense

 

 

(1,811

)

 

 

(3,385

)

 

 

(6,790

)

 

 

(10,405

)

Change in the fair value of contingent consideration

 

 

3,926

 

 

 

1,300

 

 

 

16,626

 

 

 

(27,800

)

Other income (expense), net

 

 

9,368

 

 

 

(1,664

)

 

 

11,047

 

 

 

(1,534

)

Total other income (expense), net

 

 

12,859

 

 

 

(240

)

 

 

26,807

 

 

 

(28,954

)

INCOME (LOSS) BEFORE INCOME TAXES

 

 

2,192

 

 

 

(53,861

)

 

 

(54,891

)

 

 

(194,499

)

INCOME TAX PROVISION (BENEFIT)

 

 

2,326

 

 

 

(983

)

 

 

13,328

 

 

 

(3,233

)

NET LOSS

 

$

(134

)

 

$

(52,878

)

 

$

(68,219

)

 

$

(191,266

)

LOSS PER ORDINARY SHARE:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

$

(0.00

)

 

$

(0.34

)

 

$

(0.43

)

 

$

(1.22

)

WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES OUTSTANDING:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

 

159,062

 

 

 

157,199

 

 

 

158,685

 

 

 

156,845

 

COMPREHENSIVE LOSS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(134

)

 

$

(52,878

)

 

$

(68,219

)

 

$

(191,266

)

Unrealized (loss) gain, net of a tax (benefit) provision of $(193), $(15), $303 and $479, respectively

 

 

(659

)

 

 

(24

)

 

 

1,056

 

 

 

1,642

 

COMPREHENSIVE LOSS

 

$

(793

)

 

$

(52,902

)

 

$

(67,163

)

 

$

(189,624

)

 

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)

 

 

 

Nine Months Ended

 

 

 

September 30,

 

 

 

2020

 

 

2019

 

 

 

(In thousands)

 

CASH FLOWS FROM OPERATING ACTIVITIES:

 

 

 

 

 

 

 

 

Net loss

 

$

(68,219

)

 

$

(191,266

)

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

 

 

 

 

 

 

 

 

Share-based compensation expense

 

 

65,279

 

 

 

79,590

 

Depreciation and amortization

 

 

61,525

 

 

 

59,901

 

Deferred income taxes

 

 

9,939

 

 

 

(3,025

)

Change in the fair value of contingent consideration

 

 

(16,626

)

 

 

27,800

 

Other non-cash charges

 

 

2,105

 

 

 

90

 

Changes in assets and liabilities:

 

 

 

 

 

 

 

 

Receivables

 

 

(8,551

)

 

 

41,988

 

Contract assets

 

 

(6,009

)

 

 

3,207

 

Inventory

 

 

(20,748

)

 

 

(10,324

)

Prepaid expenses and other assets

 

 

5,597

 

 

 

2,120

 

Right-of-use assets

 

 

13,251

 

 

 

6,306

 

Accounts payable and accrued expenses

 

 

(6,222

)

 

 

20,542

 

Contract liabilities

 

 

(3,045

)

 

 

292

 

Operating lease liabilities

 

 

(11,910

)

 

 

(6,845

)

Other long-term liabilities

 

 

(867

)

 

 

(369

)

Cash flows provided by operating activities

 

 

15,499

 

 

 

30,007

 

CASH FLOWS FROM INVESTING ACTIVITIES:

 

 

 

 

 

 

 

 

Additions of property, plant and equipment

 

 

(36,780

)

 

 

(58,972

)

Proceeds from the sale of equipment

 

 

61

 

 

 

900

 

Proceeds from contingent consideration

 

 

2,819

 

 

 

10,000

 

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

 

 

2,751

 

 

 

 

Purchases of investments

 

 

(151,324

)

 

 

(141,749

)

Sales and maturities of investments

 

 

206,089

 

 

 

149,459

 

Cash flows provided by (used in) investing activities

 

 

23,616

 

 

 

(40,362

)

CASH FLOWS FROM FINANCING ACTIVITIES:

 

 

 

 

 

 

 

 

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

 

 

7,719

 

 

 

16,381

 

Employee taxes paid related to net share settlement of equity awards

 

 

(7,607

)

 

 

(9,230

)

Principal payments of long-term debt

 

 

(2,132

)

 

 

(2,132

)

Cash flows (used in) provided by financing activities

 

 

(2,020

)

 

 

5,019

 

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

 

 

37,095

 

 

 

(5,336

)

CASH AND CASH EQUIVALENTS—Beginning of period

 

 

203,771

 

 

 

266,762

 

CASH AND CASH EQUIVALENTS—End of period

 

$

240,866

 

 

$

261,426

 

SUPPLEMENTAL CASH FLOW DISCLOSURE:

 

 

 

 

 

 

 

 

Non-cash investing and financing activities:

 

 

 

 

 

 

 

 

Purchased capital expenditures included in accounts payable and accrued expenses

 

$

2,169

 

 

$

14,664

 

 

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, 2019

 

 

160,489,888

 

 

 

1,602

 

 

 

2,586,030

 

 

 

(1,816

)

 

 

(1,381,988

)

 

 

(2,710,886

)

 

 

(118,386

)

 

 

1,085,442

 

Issuance of ordinary shares under employee stock plans

 

 

258,137

 

 

 

3

 

 

 

3,068

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3,071

 

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

 

 

1,020,510

 

 

 

10

 

 

 

(10

)

 

 

 

 

 

 

 

 

(372,846

)

 

 

(7,283

)

 

 

(7,283

)

Share-based compensation expense

 

 

 

 

 

 

 

 

20,125

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

20,125

 

Unrealized gain on marketable securities, net of tax provision of $87

 

 

 

 

 

 

 

 

 

 

 

317

 

 

 

 

 

 

 

 

 

 

 

 

317

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(38,654

)

 

 

 

 

 

 

 

 

(38,654

)

BALANCE — March 31, 2020

 

 

161,768,535

 

 

$

1,615

 

 

$

2,609,213

 

 

$

(1,499

)

 

$

(1,420,642

)

 

 

(3,083,732

)

 

$

(125,669

)

 

$

1,063,018

 

Issuance of ordinary shares under employee stock plans

 

 

327,251

 

 

 

3

 

 

 

3,845

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3,848

 

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

 

 

24,175

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(7,874

)

 

 

(123

)

 

 

(123

)

Share-based compensation expense

 

 

 

 

 

 

 

 

23,136

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

23,136

 

Unrealized gain on marketable securities, net of tax provision of $409

 

 

 

 

 

 

 

 

 

 

 

1,398

 

 

 

 

 

 

 

 

 

 

 

 

1,398

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(29,431

)

 

 

 

 

 

 

 

 

(29,431

)

BALANCE — June 30, 2020

 

 

162,119,961

 

 

$

1,618

 

 

$

2,636,194

 

 

$

(101

)

 

$

(1,450,073

)

 

 

(3,091,606

)

 

$

(125,792

)

 

$

1,061,846

 

Issuance of ordinary shares under employee stock plans

 

 

53,509

 

 

 

 

 

 

800

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

800

 

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

 

 

34,675

 

 

 

1