Shares of Alkermes (ALKS) have been rising this afternoon after Bloomberg reported that another drugmaker exploring some of the same therapeutic areas, Nektar Therapeutics (NKTR), is exploring its strategic options, including a potential sale.

Bloomberg notes in a follow-up report that Alkermes drug candidate ALKS 4230 has a similar mechanism of action as Nektar's NKTR-214. Alkermes and Nektar also share three of the same top six shareholders, Bloomberg added.

In late afternoon trading following Bloomberg's initial report about Nektar, its shares are up 1.3% to $89.86 while Alkermes is up nearly 8% at $62.91.