ALKS Phase 2 readout: a negative outcome, -6.7%

On January 11, 2017, Alkermes plc reached its Phase 2 readout. The result was a negative outcome, and the stock moved -6.7% in the window around the event. It had already run +8.2% in the 30 days into the catalyst — the kind of pre-event run-up that often precedes binary readouts.