Q3 2024 Neurocrine Biosciences Inc Earnings Call Transcript
Key Points
- Neurocrine Biosciences Inc (NBIX) reported strong Q3 sales of $113 million, reflecting a 25% year-over-year growth, driven by continued patient demand.
- The company has authorized a $300 million share repurchase plan, indicating confidence in its valuation and future growth prospects.
- Neurocrine Biosciences Inc (NBIX) is well-positioned with a robust neuroscience-focused pipeline, including potential blockbuster crinecerfont, which is on track for regulatory approval by year-end.
- The company has completed its psychiatry and long-term care sales force expansion, expected to drive further growth in the first half of next year.
- Neurocrine Biosciences Inc (NBIX) is advancing two major Phase 3 programs in major depressive disorder and schizophrenia, with significant progress in its pipeline.
- Despite strong sales, the tardive dyskinesia market remains largely untapped, with 85% of patients not yet receiving a VMAT2 inhibitor.
- The company is facing potential delays in reimbursement for crinecerfont due to new-to-market blocks by commercial payers, which could impact early sales.
- Neurocrine Biosciences Inc (NBIX) has decided to de-prioritize certain programs, reflecting the inherent risks and challenges in drug development.
- The competitive landscape in the tardive dyskinesia market is intensifying, with Teva's XR formulation contributing to market growth.
- The company anticipates an increase in R&D spending, which may impact short-term profitability as it invests in its pipeline.
So please stand by your presented about to begin.
Good day, everyone, and welcome to today's Neurocrine Biosciences Reports Third quarter was at this time.
All participants are in listen only mode.
Later, we will have an opportunity to ask questions during the question and answer period register to ask a question at any time by pressing star one on your telephone keypad.
Please note that this call will be recorded.
I'll be standing by.
Should you need any assistance is my pleasure to turn today's call over to Todd Taylor, Vice President of Investor Relations.
Please go ahead.
Thank you and happy (of all) welcome to Neurocrine Biosciences Third Quarter 2024 earnings call.
With me are Carl Bass, our Chief Executive Officer, Matt Abernethy, Chief Financial Officer, Eric Benavides, Chief Commercial Officer, than either Roberts Chief Medical.
All know that today we will be making forward look statements.
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
