DUBLIN, Oct. 31, 2023 /PRNewswire/ -- Alkermes plc
(Nasdaq: ALKS) today announced that the Registration Statement on
Form 10, as amended (Form 10), filed by Mural Oncology plc (Mural
Oncology) was declared effective by the U.S. Securities and
Exchange Commission (SEC). This Form 10 describes Alkermes' planned
separation of its oncology business into Mural Oncology, which,
upon completion of the separation, will be a new, independent,
publicly traded company.
The completion of the separation is set to occur on Nov. 15, 2023 through a distribution to Alkermes
shareholders of one ordinary share of Mural Oncology for every 10
ordinary shares of Alkermes held as of the close of business on
Nov. 6, 2023, the record date for the
distribution. No action is required by Alkermes shareholders in
order to receive ordinary shares of Mural Oncology in the
distribution.
Nasdaq has approved the listing of Mural Oncology's ordinary
shares on the Nasdaq Global Market under the stock ticker symbol
"MURA" beginning on Nov. 16, 2023.
While there is no current trading market for Mural Oncology's
ordinary shares, a limited "when-issued" public trading market for
Mural Oncology's ordinary shares is expected to commence prior to
the distribution under the stock ticker symbol "MURAV" and will
continue up to and through the date of the distribution. A limited
"ex-distribution" public trading market for Alkermes' ordinary
shares under the stock ticker symbol "ALKSV" is expected for the
same period. This "ex-distribution" market will be in addition to
the existing trading market for Alkermes ordinary shares. A
description of these expected trading markets is included in the
Form 10.
The completion of the separation is subject to certain
conditions described in the Form 10, including those conditions set
forth in a separation agreement to be entered into between Alkermes
and Mural Oncology, a form of which is filed as an exhibit to the
Form 10.
For more information about the separation, the distribution and
Mural Oncology's ordinary shares, refer to the Form 10, which can
be viewed at http://www.sec.gov and on the investors section of
Alkermes' website at www.alkermes.com.
About Mural Oncology plc
Following completion of the
separation, Mural Oncology plc will be a clinical-stage oncology
business focused on discovering and developing immunotherapies that
may meaningfully improve the lives of patients with cancer. Based
on its core competencies in immune cell modulation and protein
engineering, Mural Oncology will have a portfolio of novel,
investigational cytokine therapies designed to address areas of
unmet need for patients with a variety of cancers.
About Alkermes plc
Alkermes plc is a
fully-integrated, global biopharmaceutical company developing
innovative medicines in the fields of neuroscience and oncology.
The company has a portfolio of proprietary commercial products
focused on alcohol dependence, opioid dependence, schizophrenia and
bipolar I disorder, and a pipeline of product candidates in
development for neurological disorders and cancer. Headquartered
in Dublin, Ireland, Alkermes has a research and
development center in Waltham, Massachusetts; a research
and manufacturing facility in Athlone, Ireland; and a
manufacturing facility in Wilmington, Ohio. For more
information, please visit Alkermes' website
at www.alkermes.com.
Note Regarding Forward-Looking Statements
Certain statements set forth in this press release constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, as amended, including,
but not limited to, statements concerning: the company's
expectations related to the completion, structure, timing and terms
of the planned separation of its oncology business into a new,
independent, publicly traded company (Mural Oncology), the
distribution of Mural Oncology's ordinary shares, and anticipated
public trading markets for Alkermes and Mural Oncology ordinary
shares. The company cautions that forward-looking statements are
inherently uncertain. The forward-looking statements are neither
promises nor guarantees and they are necessarily subject to a high
degree of uncertainty and risk. Actual performance and results may
differ materially from those expressed or implied in the
forward-looking statements due to various risks and uncertainties.
These risks and uncertainties include, among others: that a
condition to the closing of the separation may not be satisfied or
waived; that the Company may not complete the separation on
the terms or timing currently anticipated or at all; unanticipated
developments, costs or difficulties that may delay or otherwise
negatively affect the timing or completion of the planned
separation or the anticipated trading markets related thereto; and
those risks and uncertainties described under the heading "Risk
Factors" in the Form 10 filed by Mural Oncology with the SEC, the
company's Annual Report on Form 10-K for the year ended
Dec. 31, 2022 and in subsequent
filings made by the company with the SEC, which are available on
the SEC's website at www.sec.gov. Existing and prospective
investors are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof.
Except as required by law, the company disclaims any intention or
responsibility for updating or revising any forward-looking
statements contained in this press release.
Alkermes Contacts:
For Investors: Sandy Coombs
+1 781 609 6377
For Media: Katie
Joyce +1 781 249 8927
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