On October 31, 2023 Alkermes plc (Nasdaq: ALKS) reported 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) (Press release, Alkermes, OCT 31, 2023, View Source [SID1234636575]). 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.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

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 View Source and on the investors section of Alkermes’ website at www.alkermes.com.