NBIX
Neurocrine Biosciences, Inc.148.74
-5.32-3.45%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
CRENESSITY launch details clarified
Q&A largely reaffirms INGREZZA's mid-teens volume growth outlook and CRENESSITY's strong start, but adds launch color: steady quarterly patient adds expected sans 2026 guide, akin to INGREZZA's four-year ramp yet potentially quicker in this rare disease. Two-thirds of 1,000+ prescribers wrote one script only, spurring April sales force expansion to deepen endo reach and tap PCPs/OB-GYNs via AI. No seasonality confirmed; Q1 co-pay reset trims gross-to-net 5%. Team brushes off ACTH rival as non-threat, citing multi-year lead. Bullish execution tone. Watch non-endo adoption for blockbuster path.
Key Stats
Market Cap
14.83BP/E (TTM)
35.50Basic EPS (TTM)
4.19Dividend Yield
0%Recent Filings
8-K
Q4 sales up 29% to $798M
10-K
FY2025 results
Neurocrine Biosciences delivered FY2025 results with total net product sales surging 21.6% y/y to $2.83B, driven by INGREZZA's $2.51B (up 8.8% y/y on record prescriptions) and CRENESSITY's impressive $301.2M first full-year launch. Q4 momentum accelerated as CRENESSITY ramped post-December 2024 FDA approval for CAH, while INGREZZA sustained strong demand despite lower net pricing from expanded Medicare access covering 70% of TD/Huntington's beneficiaries. Operating income climbed to $619.1M amid R&D investments doubling late-stage spend for osavampator/direclidine Phase 3 programs, yet margins held firm. Cash swelled to $2.54B with $783M operating cash flow; $500M buyback authorized ($168M executed). DOJ probes INGREZZA marketing. Pipeline advanced with direclidine/osavampator Phase 3 initiations. Sales force expanding Q1 2026. Government pricing controls threaten quarterly momentum.
8-K
Extends Roberts' advisor role
Neurocrine Biosciences extended Eiry Roberts' role as Strategic Advisor through December 31, 2026, via a November 21 amendment to her employment agreement, following her June 2 transition from Chief Medical Officer. She earns $731,400 base salary through 2025, plus 60% target incentive bonus for 2025-2026, set by the Compensation Committee. No severance if term expires naturally.
8-K
Q3 sales soar 28% to $790M
Neurocrine Biosciences posted Q3 net product sales of $790M, up 28% year-over-year, with INGREZZA at $687M (12% YoY growth) and CRENESSITY launching to $98M on 540 new patient starts. Sales teams expand by Q1 2026 to fuel momentum, while Phase 3 trials kick off for direclidine in schizophrenia. Cash pile hits $2.1B. Guidance holds firm.
10-Q
Q3 FY2025 results
Neurocrine Biosciences posted Q3 revenue of $794.9M, up 27.8% y/y from $622.1M, with INGREZZA net sales at $686.6M (up 11.9% y/y) and CRENESSITY adding $98.1M; operating income climbed to $239.0M from $183.8M while YTD dipped to $408.2M from $428.5M on R&D ramp. Diluted EPS hit $2.04, up 64.5% y/y, reconciling to 102.5M shares. Cash flow from operations generated $394.3M YTD (up from $352.9M), lifting cash and equivalents to $340.2M with $2.1B total liquidity; $167.7M share repurchases trimmed shares. Pipeline advanced with Phase 3 direclidine and osavampator starts. Generic challenges shadow INGREZZA sales.
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