Alkermes shares rise on schizophrenia drug approval

Alkermes PLC shares ticked higher in the extended session Monday after the biotech company said the Food and Drug Adminstration approved its schizophrenia treatment Aristada. Alkermes shares rose 6.5% to $63.63. The company said the approval was based on data from a late-stage clinical study showing Aristada significantly reduced signs and symptoms of schizophrenia in patients after 12 weeks.

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