Alkermes reported positive mid-stage clinical trial results for its oral orexin receptor agonist, alixorexton, in narcolepsy type 1 patients. The drug improved wakefulness across all doses and reduced daytime sleepiness significantly, with some reduction in cataplexy frequency. The findings support advancing the drug to Phase 3 trials, positioning Alkermes as a competitor to Takeda's narcolepsy therapy while potentially addressing shortcomings of current treatments.