Alkermes To Spin-Off Mural Oncology In 2H23

Deal Overview

On April 18, 2023, Alkermes

ALKS
plc (NASDAQ: ALKS, $31.48, Market Capitalization: $5.2 billion), a fully-integrated, global biopharmaceutical company developing innovative medicines in the fields of neuroscience and oncology, announced submission of a confidential draft Form 10 registration statement to the United States Securities and Exchange Commission in connection with planned separation of the Company’s oncology business (Mural Oncology plc). Earlier on November 2, 2022, the Company had approved to explore a separation of the oncology business into an independent, publicly-traded company as part of an ongoing review of strategic alternatives for the oncology business. Upon completing the planned separation, Mural Oncology plc (Spin-Off) is expected to be a Nasdaq-listed company, trading under the ticker symbol ‘MURA’. The spin-off is expected to be completed in 2H23, subject to various customary conditions, including final approval from Alkermes’ Board of Directors and receipt of a private letter ruling from the IRS and/or a tax opinion from the Company’s tax advisor. Furthermore, the Company’s 2023 Annual General Meeting is scheduled to be held on June 29.