After a Bumpy Ride, Alkermes Confirms That It's Back on Track

It's been a volatile couple of weeks for Alkermes (NASDAQ: ALKS). The commercial-stage biopharma shook investors' confidence in early April when it announced that it received a refuse to fileletter from the Food and Drug Administration for ALKS 5461, an important pipeline candidate designed to treat depression.

However, just a few weeks later the agency surprised investors again by announcing that it had overturned its original decisionand officially accepted ALKS 5461 for review.