Shares of Alkermes PLC (ALKS) surged 5.07% in pre-market trading on Thursday following the company's release of better-than-expected first-quarter 2025 financial results. The biopharmaceutical firm reported earnings that surpassed analyst estimates, driven by strong product sales and effective cost management.

For the quarter ended March 31, Alkermes posted adjusted earnings of $0.27 per share, exceeding the average analyst forecast of $0.23 per share. While this represents a decrease from $0.43 per share in the same quarter last year, it demonstrates the company's ability to outperform expectations in a challenging environment. Revenue for the quarter came in at $306.5 million, slightly above the consensus estimate of $304.1 million, despite a 12.5% year-over-year decline.

The company's proprietary product portfolio showed resilience, with total proprietary net sales reaching $244.5 million. Notably, LYBALVI, Alkermes' treatment for schizophrenia and bipolar I disorder, saw impressive growth with revenues of $70.0 million, up 23% compared to the first quarter of 2024. This growth in LYBALVI sales helped offset declines in other areas and showcases the potential of Alkermes' newer products. The company's ability to maintain strong sales in key products while navigating market challenges appears to have boosted investor confidence, contributing to the stock's positive movement.