Neurocrine Biosciences Inc Stock Price, News & Analysis

Neurocrine Biosciences (NASDAQ: NBIX) presents data at SLEEP 2022 regarding sleep disturbances in Parkinson's disease (PD), highlighting the impact of OFF episodes on sleep quality. The analysis reveals that 34.4% of participants experienced OFF episodes before sleep, lasting a mean of 1.8 hours. Among those waking at night, 81% were OFF for an average of 1 hour. The findings underscore the need for better understanding and management of sleep issues in PD patients. ONGENTYS, an adjunct therapy to levodopa, aims to improve treatment outcomes for these patients.

Neurocrine Biosciences (Nasdaq: NBIX) announced the repurchase of approximately $179.4 million of its existing 2.25% Convertible Senior Notes due in 2024 for an estimated $224.0 million. This move aims to reduce convertible debt by around 60% over two years, decreasing outstanding notes to about $201.8 million. The repurchases, expected to close by June 14, 2022, may influence the stock's market price. CFO Matt Abernethy emphasized the focus on minimizing dilution for shareholders and advancing clinical programs.

Neurocrine Biosciences (Nasdaq: NBIX) recently announced the presentation of new data on INGREZZA (valbenazine) at the American Psychiatric Association (APA) Annual Meeting from May 21-25, 2022. The post hoc analysis of two long-term studies showed significant improvements in tardive dyskinesia (TD) symptoms after 48 weeks of treatment, maintaining psychiatric stability. Additional presentations at the conference will cover related topics including telehealth services and a patient-centric study on TD treatment.

On May 12, 2022, Neurocrine Biosciences announced that the FDA granted Orphan Drug Designation for valbenazine to treat chorea associated with Huntington disease (HD). This follows the Phase 3 KINECT-HD study results, which evaluated valbenazine's efficacy and safety in adults with HD. The company's CEO emphasized its commitment to developing treatments for rare diseases. Currently, the KINECT-HD2 open-label study is ongoing to assess long-term safety of valbenazine. The supplemental new drug application (sNDA) is anticipated later this year, aiming to provide new options for HD patients.

Neurocrine Biosciences (NBIX) reported Q1 2022 net product sales of $303 million for INGREZZA, marking a 32% increase year-over-year. Total revenues reached $310.6 million, up from $236.6 million a year earlier. The company reiterated its full-year sales guidance for INGREZZA between $1.25 - $1.35 billion, anticipating 20% growth. GAAP net income was $13.9 million, down from $32.1 million in Q1 2021. Increased R&D and SG&A expenses were noted, correlating with expanded clinical programs and salesforce efforts.

Neurocrine Biosciences (Nasdaq: NBIX) will present at the Bank of America Securities 2022 Healthcare Conference on May 10, 2022, at 11:20 a.m. PT in Las Vegas. CEO Kevin Gorman and CFO Matt Abernethy will represent the company. The presentation will be available via live webcast on the company's website, with a replay accessible after one hour post-event for about a month. Neurocrine focuses on developing treatments for neurological and neuropsychiatric disorders, with a range of FDA-approved therapies and ongoing clinical programs.

Neurocrine Biosciences (Nasdaq: NBIX) announced its first quarter 2022 financial results conference call and webcast scheduled for May 4, 2022, at 5:00 a.m. PT (8:00 a.m. ET). The Q1 2022 press release will be made available at 4:30 a.m. PT (7:30 a.m. ET) on the same day. Investors can join via a domestic dial-in number (800-895-3361) or international dial-in number (785-424-1062), using the conference ID: NBIX. The webcast link will be accessible on the Neurocrine Biosciences website, with a replay available for one month.

Neurocrine Biosciences announced that valbenazine met its primary endpoint in the Phase 3 KINECT-HD study, showing a significant improvement in chorea severity in Huntington disease patients compared to placebo (p<0.0001). Improvements were evident as early as Week 2. Response rates for clinical and patient global impressions also favored valbenazine. The company plans to submit a supplemental new drug application to the FDA in 2022. The safety profile was consistent with prior studies, with no serious adverse events reported.

Neurocrine Biosciences (Nasdaq: NBIX) announced on March 28, 2022, that its collaboration partner, Mitsubishi Tanabe Pharma Corporation, received regulatory approval from the Japanese Ministry of Health for DYSVAL® (valbenazine) capsules 40 mg, aimed at treating tardive dyskinesia (TD). This approval signifies a key milestone in their partnership established in March 2015, under which MTPC covers all costs related to development and commercialization in Japan and select Asian markets. Neurocrine will earn tiered royalties on future sales, bolstering its financial outlook.