Neurocrine's Depression Drug Fails Phase 2 Goal But Shows Encouraging Safety Profile

Core Insights - Neurocrine Biosciences, Inc. announced that its Phase 2 study of NBI-1070770 for major depressive disorder did not meet the primary endpoint compared to placebo, although the treatment was generally well tolerated [1][3] - The study aimed to evaluate the efficacy, safety, and tolerability of NBI-1070770 in adults with major depressive disorder who had inadequate responses to at least one antidepressant [1][2] Financial Performance - Neurocrine reported third-quarter adjusted earnings of $2.17 per share, exceeding the consensus estimate of $1.58 [3] - The company's sales reached $794.9 million, surpassing Wall Street's estimate of $746.05 million [4] Market Reaction - Following the announcement, Neurocrine's stock (NBIX) experienced a decline of 2.64%, trading at $146.07 [4]