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Overview of Neurocrine Biosciences' Q3 2025 Financial Results

Neurocrine Biosciences, Inc. (Nasdaq: NBIX) announced strong financial results for its third quarter ended September 30, 2025. They reported a total net product sales figure of $790 million, reflecting a robust 28% year-over-year growth and a 16% sequential increase over the previous quarter. This performance is prominently driven by the company's flagship products, INGREZZA (valbenazine) and CRENESSITY (crinecerfont).

Product Sales Breakdown

The standout performer was INGREZZA, which achieved net product sales of $687 million. This marks a 12% year-over-year increase and a 10% rise compared to the previous quarter, highlighting its rising demand as a treatment for tardive dyskinesia and Huntington's chorea. Meanwhile, CRENESSITY recorded net product sales of $98 million, benefiting from strong market acceptance as a first-in-class therapy for congenital adrenal hyperplasia, with a noted 540 new patient enrollment forms.

Dr. Kyle W. Gano, CEO of Neurocrine Biosciences, emphasized that the robust sales illustrate the increasing unmet medical needs in the targeted conditions. He stated, “Neurocrine's third quarter commercial results highlight the meaningful impact that INGREZZA and CRENESSITY are having on patients' lives.”

Clinical and Corporate Developments

Recent clinical advancements show promising progress as Neurocrine continues to expand its neuropsychiatric portfolio. They recently initiated a second Phase 3 trial for direclidine, aimed at treating schizophrenia. Additionally, recent data from the Phase 2 SAVITRI study illustrated significant reductions in depression severity, further underlining the therapeutic potential of their products.

Neurocrine’s commitment to innovation is evident with ongoing registration-enabling trials for osavampator, focusing on major depressive disorder, and direclidine for schizophrenia. As part of their strategic growth, they plan to expand their sales teams for both INGREZZA and CRENESSITY to capitalize on their commercial momentum ahead of the expected growth for 2026.

Financial Summary

• - Total Net Product Sales: $790 million
• - INGREZZA Net Sales: $687 million
• - CRENESSITY Net Sales: $98 million
• - Operating Expenses: A GAAP basis reflects significant investment in research and development amounting to $250 million and selling, general, and administrative expenses reaching $292 million.
• - GAAP Net Income: $209.5 million translating to an earnings per share of $2.04.

Looking Ahead

By strengthening its clinical pipeline and expanding market presence, Neurocrine is well poised to lead in the neuroscience field. The company aims to reaffirm its full-year 2025 guidance for INGREZZA, targeting net product sales between $2.5 billion and $2.55 billion.

Neurocrine is scheduled to maintain a conference call at 4:30 p.m. ET to discuss its results in detail and answer investor questions. As the biopharmaceutical landscape evolves, Neurocrine’s focus on innovative therapies for underserved conditions remains a critical component of their ongoing mission.

Conclusion

Neurocrine Biosciences demonstrates strong financial health with impressive product sales growth in a competitive market, backed by promising clinical developments and a commitment to patient care. Their unique focus on addressing significant unmet needs positions them for future success and innovation in neuroscience therapeutics.