Question · Q3 2025
Ygal Nochomovitz asked about Neurocrine Biosciences' capital management, specifically the continuation and pace of the buyback program related to the new $500 million allocation, considering the increased SG&A for sales force expansion.
Answer
Matt Abernethy, Chief Financial Officer, highlighted the company's $2.1 billion cash balance and profitability. He stated that capital allocation prioritizes top-line growth and R&D investment (targeting 35%), with a bias towards business development and internal initiatives, while maintaining flexibility for share buybacks.