NEUROCRINE BIOSCIENCES (NBIX) Company Report

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.

13 hours ago

Press Release

Neurocrine Biosciences Outlines R&D Strategy and Pipeline Progress at 2025 R&D Day

NBIX

New Projects/Investments

Neurocrine Biosciences is transitioning from a single-product biotech to a multi-product diversified biopharmaceutical company with two commercial products and 2,000 employees.
The company's neuropsychiatry portfolio is positioned to deliver multiple best- and first-in-class medicines by 2030, with key programs like Osirvampetor for major depressive disorder and Direclidine for schizophrenia, both with Phase 3 data expected in 2027. Osirvampetor demonstrated statistically significant efficacy in Phase 2, with a 7.5 MADRS score decrease at two months.
Neurocrine is expanding its CRF biology expertise with a two-pronged strategy, including follow-on CRF1 medicines and new CRF2 agonists for metabolic disorders like obesity, with MBIP-2118 entering the clinic in the first half of next year for weight loss with muscle preservation.
The transformed R&D engine has delivered 24 new development candidates over the past three years, exceeding its target, and aims for one launch product every other year. The early-phase pipeline currently includes 9 assets in Phase 1 and 15 additional development candidates in IND-enabling studies.

7 days ago

Transcript

Neurocrine Outlines 2026 R&D Strategy and Pipeline Progress

NBIX

New Projects/Investments

Product Launch

Neurocrine is implementing a "20 in 5" R&D strategy, targeting 20 new development candidates over five years and the launch of one new medicine every two years at steady state.
The company achieved its productivity goal in 2025 for the first time, with four new Phase 1 starts, two new Phase 2 starts, and three programs in Phase 3.
Strategic R&D pillars include leading the VMAT2 category with next-generation inhibitors and expanding CRF biology into new areas like metabolic diseases, leveraging a shift to multimodality (peptides, biologics).
Phase 3 studies for Osirvampetor, an AMPA potentiator for depression, are enrolling well, with top-level readouts anticipated in the 2027 time frame.
A novel, potent Q-weekly CRF2 agonist for metabolic disease, specifically obesity with muscle preservation, is slated to enter the clinic in the first half of next year (2026).

7 days ago

Transcript

Neurocrine Biosciences Outlines R&D Transformation and Pipeline Strategy at 2025 R&D Day

NBIX

New Projects/Investments

Guidance Update

Neurocrine Biosciences is transitioning to a multi-product biopharmaceutical company, targeting the delivery of one new medicine every two years and multiple best- and first-in-class medicines by 2030.
The company's transformed R&D engine has delivered 24 new development candidates in the past three years and is now at a steady state of four new phase I starts, two new phase II starts, and three programs in phase III annually.
Key pipeline updates include anticipated top-line data for Osavampator (major depressive disorder) phase III studies in 2027, and for Direclidine (schizophrenia and bipolar mania) phase III/II studies in 2027-2028.
Neurocrine is leveraging its expertise in CRF biology for new programs, including NBIP-'2118 for metabolic disorders, which will enter the clinic in the first half of 2026.

7 days ago

Transcript

Neurocrine Biosciences Discusses Product Performance, IRA Impact, and Growth Strategy

NBIX

Product Launch

M&A

Guidance Update

Neurocrine Biosciences reported strong performance for Ingrezza, projected to reach approximately $2.5 billion this year, and a successful launch for Crinecerfont, which has aided 10% of congenital adrenal hyperplasia (CAH) patients since its approval a year ago.
The company anticipates the Inflation Reduction Act (IRA) impact on Ingrezza to be very manageable from 2027 to 2029, with current formulary coverage secured for over 70% of Medicare lives and over 90% in Medicaid and commercial through 2026.
Neurocrine is expanding its Ingrezza and Crinecerfont sales teams in 2026 to drive growth, particularly targeting advanced practice providers who represent a rapidly expanding prescriber base in the VMAT2 category.
With $2 billion in cash and no debt, Neurocrine is actively seeking business development opportunities for commercial products that can leverage its existing infrastructure within the next three to five years, focusing on neuro, endocrine, and adjacent therapeutic areas.

Dec 2, 2025, 2:30 PM

Transcript

Neurocrine Biosciences Discusses Product Performance, IRA Impact, and Growth Strategy

NBIX

Product Launch

M&A

Guidance Update

Ingrezza is performing strongly, with sales around $2.5 billion this year, and has significant room for growth as only 10% of tardive dyskinesia patients are currently treated with VMAT2 inhibitors.
The launch of Crinecerfont for congenital adrenal hyperplasia (CAH) has been successful, helping 10% of CAH patients within a year of its December last year approval, with high patient persistency (over 90%).
Neurocrine views the impact of the Inflation Reduction Act (IRA) on Ingrezza as manageable from 2027 to 2029, expecting to maintain coverage and negotiate a favorable price for 2029 implementation.
The company is expanding its Ingrezza and Crinecerfont sales teams in 2026 to capitalize on market momentum and the growing base of VMAT2 prescribers, particularly advanced practice providers.
With $2 billion in cash and no debt, Neurocrine is actively considering business development opportunities, focusing on commercial products in neuro, endocrine, and adjacent spaces that could launch in the next three to five years.

Dec 2, 2025, 2:30 PM

Transcript

Neurocrine Provides Update on Ingrezza and Crinecerfont Performance, Financial Position, and IRA Impact

NBIX

Product Launch

Revenue Acceleration/Inflection

New Projects/Investments

Neurocrine's Ingrezza has generated around $2.5 billion this year (2025), with significant growth potential as only 10% of tardive dyskinesia patients are currently treated with VMAT2 inhibitors, and the drug has exclusivity until 2038.
Crinecerfont, approved in December 2024, has helped 10% of congenital adrenal hyperplasia patients in its first year of launch, with over 90% of patients staying on therapy.
The company maintains a strong financial position with $2 billion in cash and no debt, and is open to business development opportunities, though not reliant on them for success.
Management believes the impact of the Inflation Reduction Act (IRA) on Ingrezza will be very manageable from 2027 to 2029, and they expect to maintain strong formulary coverage, with over 70% of Medicare lives and over 90% of Medicaid and commercial lives covered for 2026.
To drive further growth, Neurocrine is expanding its Ingrezza and Crinecerfont sales teams in 2026, with implementation by early Q2, specifically targeting advanced practice providers who are increasingly prescribing VMAT2 inhibitors.

Dec 2, 2025, 2:30 PM

Transcript

Neurocrine Biosciences Discusses Strong Q3 2025 Performance, Ingrezza Growth, Crinecerfont Launch, and Pipeline at Jefferies Conference

NBIX

Earnings

Guidance Update

Product Launch

Neurocrine Biosciences reported $790 million in enterprise-wide revenue for Q3 2025, marking almost 30% year-to-year growth.
Ingrezza generated $687 million in revenue in Q3 2025, with 12% year-to-year growth, and the company reaffirmed its full-year guidance of $2.5-$2.55 billion. A 7% price decline is expected in the second half of 2025 relative to 2024 net revenue per script, anticipated to be consistent through 2026, with further incremental rebating likely in 2027 and 2028.
Crinecerfont, approved in December 2024, achieved $98 million in revenue in Q3 2025 and 1,600 new patient starts from Q1 to Q3, targeting 2,000 by year-end. The launch has exceeded internal expectations, with an 80% reimbursement rate and an annualized revenue run rate of $400 million.
The company's R&D pipeline aims to deliver one new medicine every other year by the end of the decade, with four new phase one starts, two new phase two starts, and three programs in phase three this year. Key programs include Ozevampitor (MDD) in phase three, with data expected in 2027.

Nov 18, 2025, 12:00 PM

Transcript

Neurocrine Reports Strong Q3 Performance and Provides Product Updates

NBIX

Guidance Update

Product Launch

Revenue Acceleration/Inflection

Neurocrine reported Q3 enterprise-wide revenue of $790 million, marking almost 30% year-to-year growth.
Ingrezza generated $687 million in Q3 revenue, a 12% year-to-year increase, and the company reaffirmed its full-year guidance of $2.5-$2.55 billion. A 7% price decline for Ingrezza is expected in the second half of 2025, remaining consistent through 2026, attributed to expanded market access.
The launch of Crinecerfont has surpassed internal expectations, achieving $98 million in Q3 revenue and approximately 1,600 new patient starts year-to-date, with a target of 2,000 by year-end.
The company is focused on a deep R&D pipeline, aiming to deliver one new medicine every other year by the end of the decade, with plans for at least four new phase one starts and two new phase two starts this year.

Nov 18, 2025, 12:00 PM

Transcript

Neurocrine Biosciences Provides Update on Ingrezza Performance, Crinecerfont Launch, and Pipeline Progress

NBIX

Guidance Update

Product Launch

New Projects/Investments

Neurocrine Biosciences reaffirmed its Ingrezza full-year revenue guidance of $2.5-$2.55 billion for 2025, following a strong Q3 performance of $687 million in revenue.
The launch of Crinecerfont (CRENESITY), approved in December 2024, has exceeded expectations, generating $98 million in Q3 revenue and achieving 1,600 new patient starts this year, with a target of 2,000 by year-end.
Ingrezza's expanded market access, now covering over 70% Medicare formulary, involved a 7% price decline in the second half of 2025, which is anticipated to be consistent through 2026, with potential for further incremental rebating in 2027-2028.
The company is advancing a robust R&D pipeline, including Ozevampitor in Phase 3 for Major Depressive Disorder (MDD) with data expected in 2027, and multiple new Phase 1, 2, and 3 program starts in 2025.

Nov 18, 2025, 12:00 PM

Transcript

Earnings Transcripts

Quarterly earnings call transcripts for NEUROCRINE BIOSCIENCES.

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NEUROCRINE BIOSCIENCES (NBIX)

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Q2 2025

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Executives

Kyle W. Gano, Ph.D.

Darin M. Lippoldt

David W. Boyer

Eric Benevich

Ingrid Delaet

Jude Onyia, Ph.D.

Julie S. Cooke

Matthew C. Abernethy

Sanjay Keswani, M.D.

Board Members

Christine A. Poon

Gary A. Lyons

George J. Morrow

Johanna Mercier

Kevin C. Gorman, Ph.D.

Leslie V. Norwalk

Richard F. Pops

Shalini Sharp

Stephen A. Sherwin, M.D.

William H. Rastetter, Ph.D.

Analyst Coverage

Anupam Rama

Cory Kasimov

David Amsellem

Laura Chico

Marc Goodman

Myles Minter

Paul Matteis

Philip Nadeau

Tazeen Ahmad

Brian Abrahams

Evan Seigerman

Jay Olson

Mohit Bansal

Ami Fadia

Ashwani Verma

Sumant Kulkarni

Yatin Suneja

Akash Tewari

Brian Skorney

Corinne Johnson

David Huang

Sean Laaman

Alex Fulton

Ash Verma

Chris Shibutani

Jeff Hung

Luke Junk

Phoebe Tan

Uy Ear

Carter L. Gould

Danielle Brill

Joshua Schimmer

Leonid Timashev

Michael Riad

Ygal Nochomovitz

Yigal Nochomovitz

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