NEUROCRINE BIOSCIENCES (NBIX) Company Report

Neurocrine Biosciences reported total product sales of over $2.8 billion for fiscal year 2025, representing 22% year-over-year growth, and achieved an approximate 30% non-GAAP operating margin.
INGREZZA generated over $2.5 billion in revenue in 2025, growing 9% year-over-year, with 2026 sales guided to be between $2.7 billion and $2.8 billion, reflecting approximately 10% growth.
CRENESITY achieved over $300 million in net product sales in its first full commercial year (2025), reaching approximately 10% of the classic CAH patient population. The company is not providing specific sales guidance for CRENESITY in 2026.
The company's cash position increased to $2.5 billion by the end of 2025.
The pipeline includes two Phase 3 programs, osavampator and direlotide, with top-line data expected in 2027, and NBI-890 recently entered Phase 2 for tardive dyskinesia.

Feb 11, 2026, 9:30 PM

Transcript

Neurocrine Biosciences Reports Strong 2025 Product Sales and Provides 2026 INGREZZA Guidance

NBIX

Earnings

Guidance Update

Product Launch

Neurocrine Biosciences reported total product sales exceeding $2.8 billion in 2025, representing 22% year-over-year growth, and achieved approximately 30% non-GAAP operating margin.
INGREZZA generated over $2.5 billion in revenue in 2025, growing 9% year-over-year, and is projected to reach $2.7 billion-$2.8 billion in sales in 2026, reflecting approximately 10% growth driven by mid-teens volume growth.
CRENESITY recorded over $300 million in net product sales in its first full commercial year (2025), reaching approximately 10% of the classic CAH patient population. While no specific sales guidance is provided for 2026, strong growth is anticipated.
The company's cash position grew to $2.5 billion by the end of 2025. Significant investments are planned for 2026 in SG&A, including sales force expansion, and R&D, supporting two Phase III programs and new Phase I/II initiatives.

Feb 11, 2026, 9:30 PM

Transcript

Neurocrine Biosciences Reports Strong 2025 Performance and Provides 2026 INGREZZA Guidance

NBIX

Earnings

Guidance Update

Product Launch

Neurocrine Biosciences achieved total product sales exceeding $2.8 billion in 2025, a 22% year-over-year growth, and ended the year with a $2.5 billion cash position.
INGREZZA revenue reached over $2.5 billion in 2025, growing 9% year-over-year, and is projected to generate $2.7-$2.8 billion in 2026, reflecting approximately 10% growth driven by mid-teens volume growth.
CRENESITY recorded over $300 million in net product sales in its first full commercial year (2025), with approximately 10% of the classic CAH patient population on therapy. While no specific 2026 sales guidance is provided, strong growth is anticipated, supported by a sales force expansion.
The company's pipeline is progressing, with NBI-890 entering Phase 2 for tardive dyskinesia, and Phase 3 programs for osavampator (major depressive disorder) and direlotide (schizophrenia) expected to yield top-line data in 2027.

Feb 11, 2026, 9:30 PM

Transcript

Neurocrine Biosciences Reports Q4 and Full-Year 2025 Financial Results and Provides 2026 Guidance

NBIX

Earnings

Guidance Update

New Projects/Investments

Neurocrine Biosciences reported total net product sales of $798.3 million for Q4 2025 and $2.83 billion for Full-Year 2025, reflecting year-over-year growth of 29% and 22%, respectively.
INGREZZA net product sales for Full-Year 2025 reached $2.51 billion, and CRENESSITY net product sales were $301.2 million for the same period.
The company provided Full-Year 2026 net product sales guidance for INGREZZA between $2.7 billion and $2.8 billion.
GAAP diluted earnings per share for Full-Year 2025 was $4.67, and as of December 31, 2025, the company held approximately $2.54 billion in cash, cash equivalents, and marketable securities.
Neurocrine Biosciences is advancing its pipeline with Phase 3 programs for osavampator in major depressive disorder and direclidine in schizophrenia, and initiated a Phase 2 clinical study for NBI-1065890 in tardive dyskinesia.

Feb 11, 2026, 9:02 PM

8-K

Neurocrine Biosciences Reports Q4 and Full-Year 2025 Financial Results and Provides 2026 Guidance

NBIX

Earnings

Guidance Update

Revenue Acceleration/Inflection

Neurocrine Biosciences announced total net product sales of $798.3 million for the fourth quarter of 2025 and $2.83 billion for the full-year 2025, representing year-over-year growth of 29% and 22%, respectively.
INGREZZA net product sales were $2.51 billion for full-year 2025, and CRENESITY net product sales reached $301.2 million for full-year 2025.
The company provided full-year 2026 net product sales guidance for INGREZZA between $2.7 billion and $2.8 billion.
GAAP net income for full-year 2025 was $478.6 million, with diluted earnings per share of $4.67.
As of December 31, 2025, Neurocrine Biosciences reported cash, cash equivalents, and marketable securities totaling approximately $2.54 billion.

Feb 11, 2026, 9:01 PM

Press Release

Neurocrine Biosciences Presents INGREZZA Head-to-Head Data Against AUSTEDO XR

NBIX

Neurocrine Biosciences announced the presentation of head-to-head data demonstrating that its drug, INGREZZA (valbenazine) capsules, achieved significantly higher vesicular monoamine transporter 2 (VMAT2) target occupancy compared to AUSTEDO XR (deutetrabenazine).
The study, presented at the American College of Neuropsychopharmacology 64th Annual Meeting, found that INGREZZA showed nearly two-fold higher VMAT2 occupancy than AUSTEDO XR after a single dose.
Specifically, the primary analysis showed a least squares mean VMAT2 occupancy of approximately 76.5% for INGREZZA compared with approximately 38.3% for AUSTEDO XR at therapeutic doses.
VMAT2 occupancy is a key measurement associated with drug response in involuntary movement disorders such as tardive dyskinesia and Huntington's disease chorea, for which INGREZZA is approved.

Jan 15, 2026, 1:30 PM

Press Release

Neurocrine Biosciences Provides 2025 Insights and Outlines 2026 Strategic Priorities at J.P. Morgan Conference

NBIX

Guidance Update

Product Launch

New Projects/Investments

Neurocrine Biosciences provided 2025 insights, guiding INGREZZA net sales to $2.5 billion-$2.55 billion and reporting CRENESITY net sales of $166 million for the first nine months.
The company highlighted two overarching themes for 2026: strong and building momentum and strategic balanced diversification.
The first year of CRENESITY's launch exceeded expectations, demonstrating faster patient uptake, favorable reimbursement, and high patient persistence, achieving approximately 10% market penetration of the estimated 20,000 classic CAH patients in the U.S..
New two-year data for CRENESITY showed robust, sustained clinically meaningful benefits in adults and pediatric patients with classic CAH, including steroid reduction, weight loss in obese/overweight patients, and slowed bone age advancement in pre-pubertal children, alongside a favorable safety profile with 35,000 patient weeks of exposure.
Neurocrine's R&D engine is fully operational, targeting four new Phase I, two new Phase II, and a sustained Phase III portfolio of at least three programs annually, with plans to initiate six new Phase I programs in 2026 across neuropsychiatry, endocrinology, and immunology.

Jan 12, 2026, 5:45 PM

Transcript

Neurocrine Highlights Strong 2025 Performance and Strategic Diversification at J.P. Morgan Healthcare Conference

NBIX

Guidance Update

Product Launch

New Projects/Investments

Neurocrine provided 2025 net sales guidance for Ingrezza of $2.5-$2.55 billion and reported $166 million in net sales for Crinecerfont during its first nine months of commercialization.
The first year of launch for Crinecerfont exceeded expectations in uptake, reimbursement, and patient persistence, achieving approximately 10% market penetration among the estimated 20,000 classic CAH patients in the U.S..
The company is undergoing a sales force expansion for both Ingrezza and Crinecerfont and has diversified its portfolio to include four FDA-approved medicines and a pipeline of 12 programs in clinical development across various modalities.
Neurocrine's R&D engine aims to deliver one new medicine every two years by the end of the decade, with plans to initiate six new phase one programs and four new phase two trials in the current year.
Key upcoming catalysts include phase three readouts for Osovampator and Derecladine in 2027, alongside early phase one data for gene therapy and weight loss programs.

Jan 12, 2026, 5:45 PM

Transcript

Neurocrine Biosciences Provides 2025 Performance Update and Pipeline Progress

NBIX

Guidance Update

Product Launch

New Projects/Investments

Neurocrine Biosciences reported 2025 net sales guidance for Ingrezza of $2.5-$2.55 billion and $166 million in net sales for Crinecerfont during its first nine months of commercialization.
The company's R&D engine is fully operational, with 12 programs in clinical development (eight in Phase 1, two in Phase 2, and two in Phase 3), and aims to deliver one new medicine every two years by the end of the decade.
Crinecerfont's first year of launch for Classic Congenital Adrenal Hyperplasia (CAH) exceeded expectations, achieving approximately 10% penetration of the estimated 20,000 U.S. CAH patients.
New two-year open-label extension data for Crinecerfont demonstrated robust, sustained clinically meaningful benefits, including a predicted adult height increase of ~5.5 cm in a subset of pediatric patients and 5% or greater weight loss in ~40% of obese/overweight adult patients.
The pipeline is expanding into new therapeutic areas and modalities, including MBIP2118 for obesity and a next-generation Crinecerfont peptide (MPIP1435) for CAH, both in Phase 1 development.

Jan 12, 2026, 5:45 PM

Transcript

Neurocrine Biosciences provides update on Phase 3 study results

NBIX

New Projects/Investments

Neurocrine Biosciences announced that its Phase 3 KINECT®-DCP study evaluating valbenazine for dyskinetic cerebral palsy (DCP) did not meet primary or key secondary endpoints.
The study's primary objective was to assess improvement in chorea, a type of involuntary movement, in pediatric and adult participants with DCP.
Valbenazine is already FDA-approved for tardive dyskinesia (2017) and chorea associated with Huntington's disease (2023).
There are currently no approved treatments for people living with dyskinetic cerebral palsy.

Dec 22, 2025, 9:05 PM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for NEUROCRINE BIOSCIENCES.

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NEUROCRINE BIOSCIENCES (NBIX)

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Kyle W. Gano, Ph.D.

Darin M. Lippoldt

David W. Boyer

Eric Benevich

Ingrid Delaet

Jude Onyia, Ph.D.

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Sanjay Keswani, M.D.

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Christine A. Poon

Gary A. Lyons

George J. Morrow

Johanna Mercier

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Leslie V. Norwalk

Richard F. Pops

Shalini Sharp

Stephen A. Sherwin, M.D.

William H. Rastetter, Ph.D.

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