Alkermes shares slide more than (ALKS-9.3%) after the company posted third-quarter revenue that missed Wall Street estimates.
Quarterly revenue increased 11% to $294.14M, but fell short of analysts' estimate by $8.79M.
The company reiterated its FY forecast but warned that a lack of COVID-19 recovery could negatively impact the numbers.
If patient access does not improve or the treatment system does not normalize as anticipated, or if new COVID-19-related disruptions emerge, the company's ability to meet these expectations could be negatively impacted, it said.
At Sept. 30, 2021, the company recorded cash, cash equivalents and total investments of $748.2M, compared to $669.4M at June 30, 2021.
The company's total debt outstanding as of Sept. 30, 2021 was $296.4M.
Alkermes also posted adjusted quarterly profit per share of $0.14, beating analysts' estimate by 4 cents.