Neurocrine(NBIX) Prnewswire·2025-05-05 20:01Financial Performance - Neurocrine Biosciences reported first-quarter 2025 net product sales of INGREZZA at $545 million, an 8% increase compared to the same period in 2024, driven by record new patient starts and improved gross-to-net dynamics [6][8] - CRENESSITY generated first-quarter net product sales of $14.5 million, with 413 total patient enrollment start forms, indicating strong initial demand and approximately 70% reimbursement coverage for dispensed scripts [6][8] - Total revenues for the first quarter of 2025 reached $572.6 million, compared to $515.3 million in the first quarter of 2024 [8][19] Research and Development - The company initiated two Phase 3 registrational programs: osavampator for major depressive disorder and NBI-1117568 for schizophrenia, positioning itself for future growth [4][6] - A Phase 4 study, KINECT-PRO™, demonstrated clinically meaningful effects of INGREZZA on patients with tardive dyskinesia, regardless of severity [6][8] Financial Guidance - Neurocrine reaffirmed its 2025 financial guidance for INGREZZA net product sales between $2.5 billion and $2.6 billion [2][10] - The company expects GAAP R&D expenses to be in the range of $960 million to $1.010 billion and GAAP SG&A expenses between $1.110 billion and $1.130 billion for the full year 2025 [10][11] Corporate Developments - Sanjay Keswani, M.D., was appointed as Chief Medical Officer effective June 2, 2025, enhancing the executive management team [6][8] - The company completed a $300 million accelerated share repurchase program and announced a second program to repurchase up to $500 million of outstanding common stock [9][10]