Neurocrine Biosciences Inc Stock Price, News & Analysis

Neurocrine Biosciences reported second quarter net product sales of $350 million for INGREZZA, a 32% increase year-over-year. The company raised 2022 net sales guidance to $1.35 - $1.40 billion due to strong performance driven by better diagnosis of tardive dyskinesia. However, the essential tremor study missed its endpoints, prompting a halt in further development for that indication. The company reported a GAAP net loss of $16.9 million for the quarter. Despite this, non-GAAP earnings were robust, at $82 million for the quarter. Total cash and equivalents stand at approximately $1.1 billion.

Neurocrine Biosciences (Nasdaq: NBIX) will release its Q2 2022 financial results on August 4, 2022, post-market close. A conference call and webcast are scheduled for 1:30 PM Pacific Time the same day, where executives will discuss the results and provide company updates. Participants can join the call at 800-895-3361 (US) or 785-424-1062 (International), using conference ID: NBIX. The event will be available for replay approximately one hour after conclusion, archived for one month on the company's website.

Neurocrine Biosciences has reported significant findings from a Phase 2 study of crinecerfont in adolescents with classic congenital adrenal hyperplasia (CAH). The study, presented at ENDO 2022, showed substantial reductions (up to 76.2%) in key hormones after 14 days of treatment. This investigational, non-steroidal treatment aims to manage CAH without the side effects of glucocorticoids. Two Phase 3 studies are ongoing for both pediatric and adult patients. The treatment was well tolerated with no serious adverse events. This advancement may address a critical unmet need in CAH management.

Neurocrine Biosciences (Nasdaq: NBIX) will present at the Goldman Sachs 43rd Annual Global Healthcare Conference on June 15, 2022, at 10:40 a.m. Pacific Time in Rancho Palos Verdes, CA. CEO Kevin Gorman and CFO Matt Abernethy will represent the company. The live presentation will be webcast on the company's website, with a replay available one hour after the event and archived for one month. Neurocrine focuses on developing treatments for neurological, neuroendocrine, and neuropsychiatric disorders, including FDA-approved treatments for conditions like tardive dyskinesia and Parkinson's disease.

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.