Alkermes plc (ALKS Quick QuoteALKS - Free Report) announced the commencement of a multi-center phase I study on its immuno-oncology candidate ALKS 4230 (formerly known as RDB 1450). The study will evaluate the tolerability, safety and immunological-pharmacodynamic effects of ALKS 4230 for the treatment of patients with solid tumors.

Alkermes will conduct the study in two stages – a dose-escalation stage followed by a dose-expansion stage. The company expects interim data from the first stage of the phase I study are expected in 2017.

We note that competition in the immuno-oncology market is stiff given the presence of drugs like Opdivo, Keytruda and Yervoy among others.

Apart from ALKS 4230, Alkermes has a robust pipeline consisting of several candidates. Interesting candidates include ALKS 5461 (phase III – major depressive disorder), ALKS 3831 (phase III-schizophrenia), ALKS 8700 (phase III-multiple sclerosis and ALKS 6428 (phase III – to help physicians transfer patients from opioid agonists to antagonist therapy using Vivitrol).

Alkermes is a Zacks Rank #3 (Hold) stock. Some better-ranked stocks in the health care sector are ANI Pharmaceuticals, Inc. (ANIP Quick QuoteANIP - Free Report) , Retrophin, Inc. and Acorda Therapeutics, Inc. . While ANI Pharmaceuticals and Retrophin sport a Zacks Rank #1 (Strong Buy), Acorda Therapeutics carries a Zacks Rank #2 (Buy).

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