Alkermes plc. (ALKS): M&A transaction — Alkermes completes spin-off of oncology business into Mural; raises 2023 guidance

Alkermes plc.

On Nov 15, 2023, distributed 1 Mural share for every 10 Alkermes shares; MURA begins trading Nov 16.
FY2023 GAAP net income guidance raised to $250M–$280M from $225M–$265M; diluted EPS $1.46–$1.63.
Non-GAAP net income guidance raised to $270M–$300M from $230M–$270M; diluted EPS $1.57–$1.75.
Alkermes capitalized Mural with $275M cash; now a pure-play neuroscience company.
Operating expenses expected to drop ~$20M in last six weeks of 2023 due to separation.

item 1.01 item 2.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Alkermes plc. completed a disposition involving Mural Oncology plc (closed 2023-11-15).

Action: disposition
Counterparty: Mural Oncology plc
Closing: 2023-11-15

Exact text from the filing

on November 15, 2023, the Company completed the Separation and the Distribution.

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Alkermes plc. filing history →

Source: SEC EDGAR

accession 0000950170-23-064005

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