Gano said Ingrezza, now in its eighth year of commercialization, produced $2.51 billion in 2025 revenue, up about 9% year over year, with “double-digit volume growth” and record new prescriptions (NRX) across multiple quarters. He noted a headwind in 2025 related to gross-to-net and net price per script tied to contracts taken on during the year, but said the company expects a “clean year” in 2026 from a contracting and access perspective.On the commercial side, Gano said the company generated “just north o ...

Company Overview - Neurocrine is entering 2026 with significant enterprise-wide momentum, driven by an expanding and diversified portfolio [2] - The company is focused on delivering substantial data in 2027, particularly from Phase II and Phase III trials, marking the beginning of a sustained data flow for several years [2] Leadership Insights - Kyle Gano, CEO of Neurocrine, emphasizes the importance of 2026 as a pivotal year for the company [2] - The leadership is optimistic about the upcoming trials and the potential impact on the company's growth trajectory [2]

Summary of Neurocrine Biosciences Conference Call Company Overview - **Company**: Neurocrine Biosciences (NasdaqGS:NBIX) - **Date of Conference**: March 17, 2026 - **Key Speakers**: Kyle Gano (CEO), Todd Tushla (Head of IR) Key Points 1. Financial Performance - **2025 Revenue**: Approximately $2.8 billion, representing a **22% year-over-year growth** [4] - **Ingrezza Revenue**: $2.51 billion in 2025, with a **9% year-over-year growth** and double-digit volume growth [5] - **2026 Revenue Guidance**: Expected to be between **$2.7 billion and $2.8 billion** [11] - **Price Trends**: Anticipated **4%-5% price decline** year-over-year for Ingrezza due to expanded access [12] 2. Product Performance - **Ingrezza**: - Eighth year of commercialization with strong sales performance. - Focus on expanding prescriber base, targeting **30% new prescribers** [6] - Anticipated strong year with **double-digit volume growth** [31] - **CRENESSITY**: - First year of commercial sales generated **$300 million** in revenue, capturing **10% of the CH market** [7] - High reimbursement rates with **80% of dispensed scripts reimbursed** [7] - Focus on educational support for physicians and patients to change the standard of care [8] 3. Pipeline and Future Developments - **Phase 3 Trials**: - Osavampator and direclidine expected to deliver data in **2027** [8] - NBI-570 (M1M4 dual agonist) in schizophrenia and NBI-890 (next-generation VMAT2 inhibitor) in phase 2 trials [9][10] - **Next-Generation VMAT2 Program**: - Focus on long-acting injectable formulations to improve patient compliance [72] - **CRF1 Antagonist (NBIP-1435)**: - In phase 1, moving to phase 2/3 later this year, offering a long-acting injectable option [80] 4. Market Dynamics and Competitive Landscape - **Market Access**: - 70% of TD and HD patients under existing contracts, providing a strong market position [36] - **Competitor Analysis**: - Teva's MFP implementation in 2027 and 2028 may impact pricing strategies [36] - **Regulatory Environment**: - Ongoing negotiations with Medicare plans for 2027, with expectations for adjacent MFP products [37] 5. Strategic Focus - **Execution and Data Delivery**: - Emphasis on executing current strategies and delivering data across phase 2 and phase 3 programs in 2027 [10] - **Sustainable Innovation**: - Commitment to a diversified pipeline and innovation engine to support long-term growth [86] 6. Additional Insights - **Patient Compliance**: - Importance of addressing patient reauthorization processes and maintaining access to prescriptions [44] - **Market Sensitivity**: - Anticipation of emotional responses to new patient start forms, with a focus on consistent growth trends [42] Conclusion Neurocrine Biosciences is positioned for continued growth with a strong financial profile, a diversified product portfolio, and a robust pipeline of upcoming clinical data. The company is focused on execution and market access strategies to navigate competitive pressures and regulatory challenges while aiming to enhance patient care through innovative therapies.

Dr. Ratz – who joined Neurocrine in January 2025 as Senior Vice President of Drug Development, Delivery and Device – previously spent nearly 30 years as an executive at Eli Lilly and Company. He had broad responsibility across Lilly's drug and device development and the delivery of innovative solutions spanning preclinical development through global manufacturing. Dr. Ratz contributed to the successful development and registration of more than 25 medicines across multiple therapeutic areas and drug modaliti ...

Core Insights - Neurocrine Biosciences, Inc. will participate in the Stifel 2026 Virtual CNS Forum on March 17, 2026, at 4:30 PM EST, with a live webcast available on their website [1] Company Overview - Neurocrine Biosciences is a leading biopharmaceutical company focused on developing treatments for neurological, psychiatric, endocrine, and immunological disorders [1] - The company has a diverse portfolio that includes FDA-approved treatments for conditions such as tardive dyskinesia, chorea associated with Huntington's disease, classic congenital adrenal hyperplasia, endometriosis, and uterine fibroids, with some treatments developed in collaboration with AbbVie [1] - Neurocrine has a robust pipeline with multiple compounds in mid- to late-phase clinical development across its core therapeutic areas [1] - The company has been applying insights into neuroscience for three decades to address complex conditions and aims to relieve suffering for patients with significant needs [1]

Presentation Marc GoodmanLeerink Partners LLC, Research Division Thanks for joining us. I'm Marc Goodman, one of the Biopharma Analyst at Leerink, and it's great to have Neurocrine here. We have Matt Abernethy, who's the CFO; and Todd Tushla, who's the IR guy. Thank you very much for joining us. Matt, I'll give you a chance just to make an opening comment, maybe not too long, but just kind of set the stage. Matthew AbernethyChief Financial Officer I'll try to run out the clock if that's okay. And we'll p ...

Neurocrine Biosciences Conference Call Summary Company Overview - **Company**: Neurocrine Biosciences (NasdaqGS:NBIX) - **Date**: March 09, 2026 - **Key Products**: INGREZZA and CRENESSITY Core Industry Insights - **Market Position**: Neurocrine has two approved products, INGREZZA and CRENESSITY, with a revenue guidance of $2.7 billion to $2.8 billion for INGREZZA in 2026, reflecting significant growth potential [8][11] - **Sales Force Expansion**: A recent expansion of the sales force is expected to enhance patient outreach and support for tardive dyskinesia treatment [8][10] Product Performance - **INGREZZA**: - Launched 9 years ago, still experiencing double-digit growth [8] - Expected to achieve nearly 10% growth in 2026, with volume growth projected at 14%-15% after accounting for price declines [61] - Currently, only 10% of the 800,000 patients with tardive dyskinesia are on VMAT2 inhibitors, indicating substantial market potential [61] - **CRENESSITY**: - First new treatment for congenital adrenal hyperplasia (CAH) in over 70 years, generating over $300 million in sales in its first year [9] - Targeting a patient population of approximately 20,000 with classic CAH, with an additional 60,000 to 80,000 with non-classic CAH [17] - The launch is considered one of the top 10% of rare disease launches historically [9] Financial Health - **Cash Position**: Neurocrine holds over $2.5 billion in cash with no debt, indicating strong financial stability [11] - **R&D Investment**: The company allocates around 35% of its revenue back into research and development, supporting a robust pipeline [10][86] Growth Strategies - **Patient Acquisition**: - Less than 50% of the initial 2,000 patients for CRENESSITY came from Centers of Excellence, indicating room for growth in this area [20] - The company is optimistic about increasing patient access through ongoing efforts and clinician engagement [20][28] - **Reimbursement Success**: - Over 80% of prescriptions for CRENESSITY are being reimbursed, with a strong foundation laid for reimbursement processes prior to launch [30][28] - The reimbursement landscape is favorable, with a manageable process for obtaining authorizations [28] Future Prospects - **Clinical Trials**: Two late-stage Phase 3 trials are underway, focusing on schizophrenia and depression, with results expected in 2027 and 2028 [10] - **Obesity Market Entry**: Neurocrine is exploring opportunities in the obesity space, leveraging its existing expertise and planning to initiate trials soon [86][82] Key Challenges - **Market Competition**: The company acknowledges the competitive landscape in obesity and is focused on differentiating its offerings [85] - **Investment Scrutiny**: There are concerns regarding high spending levels, but the company emphasizes long-term growth over short-term profitability [87][89] Conclusion Neurocrine Biosciences is positioned for significant growth with its innovative products and strong financial foundation. The company is actively expanding its market presence while investing in research and development to sustain its pipeline and address unmet medical needs.

Neurocrine Biosciences Conference Call Summary Company Overview - **Company**: Neurocrine Biosciences (NasdaqGS:NBIX) - **Date**: March 09, 2026 - **Key Products**: INGREZZA and CRENESSITY Core Industry Insights - **Market Position**: Neurocrine has two approved products, INGREZZA and CRENESSITY, with a revenue guidance of $2.7 billion to $2.8 billion for INGREZZA in 2026, indicating significant growth potential in the biopharma sector [5][8] - **Sales Force Expansion**: A recent expansion of the sales force is expected to enhance patient outreach and support for tardive dyskinesia treatment [5][8] Product Performance INGREZZA - **Market Presence**: INGREZZA has been on the market for 9 years, showing double-digit growth [5] - **Revenue Growth**: Expected to achieve approximately 10% growth, with volume growth projected at 14%-15% after accounting for a 4%-5% decrease in net price [60][63] - **Patient Access**: Only 10% of the estimated 800,000 patients with tardive dyskinesia are currently receiving VMAT2 inhibitors, indicating a substantial market opportunity [63] CRENESSITY - **Launch Success**: CRENESSITY generated over $300 million in sales in its first year, helping 2,000 patients with congenital adrenal hyperplasia (CAH) [6][10] - **Patient Population**: There are approximately 20,000 patients with classic CAH and an additional 60,000-80,000 with non-classic CAH [15] - **Growth Potential**: The company believes that 80% of classic CAH patients could benefit from CRENESSITY, suggesting a significant market opportunity [23] Financial Health - **Cash Reserves**: Neurocrine has over $2.5 billion in cash and no debt, allowing for continued investment in R&D [8][9] - **R&D Investment**: The company allocates around 35% of its revenue back into R&D, supporting its long-term growth strategy [7][88] Reimbursement and Market Access - **Reimbursement Success**: Over 80% of prescriptions for CRENESSITY are being reimbursed, with a strong foundation laid for patient access through prior engagement with payers [31][29] - **Patient Enrollment**: The company has seen fluctuations in patient enrollment, which is typical for rare disease launches, but remains optimistic about future growth [21][22] Strategic Focus - **Obesity Market Entry**: Neurocrine is exploring opportunities in the obesity market, leveraging its existing expertise in endocrinology [82][87] - **Business Development**: The company has engaged in several smaller business development transactions to enhance its pipeline, focusing on early-stage assets [92][96] Key Takeaways - **Long-term Vision**: Neurocrine aims to build a market cap of $30 billion to $50 billion by sustaining a robust R&D pipeline and commercializing effective products [8] - **Patient-Centric Approach**: The company emphasizes the importance of patient outcomes and safety, particularly in pediatric populations, to drive adoption of its therapies [19][20] This summary encapsulates the key points discussed during the Neurocrine Biosciences conference call, highlighting the company's strategic direction, product performance, and market opportunities.

Group 1 - Equifax Inc. has been named "Stock to Study" by BetterInvesting Magazine for May 2026, indicating potential interest from investors regarding its stock valuation [1] - The report highlights key financial metrics for Equifax, including sales, earnings, pre-tax profit, and return on equity, which can be accessed through the National Association of Investors Corp [2] - BetterInvesting Magazine will also feature a fundamental review of Neurocrine Bio Inc. (NASDAQ: NBIX), suggesting it is considered undervalued and worthy of further study [3] Group 2 - The Editorial Advisory and Securities Review Committee of BetterInvesting consists of several CFA members, indicating a professional and knowledgeable review process [3] - BetterInvesting is a nonprofit organization focused on investment education, having empowered over 5 million individuals since its inception in 1951 [5] - The organization provides tools and resources for investors to improve their financial literacy and investment strategies [5]

Company Overview - The company is currently operating in a position of strength, indicating a robust state of affairs [1] Performance Drivers - The discussion highlights various factors contributing to the company's overperformance, although specific details were not elaborated in the provided text [1]