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Neurocrine Biosciences Reports First-Quarter 2026 Financial Results

Neurocrine Biosciences, Inc. (Nasdaq: NBIX) has unveiled exceptional financial results for the first quarter of 2026, marking the period that ended on March 31, 2026. The company showcased an impressive boost in its performance, highlighting significant advancements in its product portfolio and overall revenue growth.

Strong Revenue Growth

In the first quarter of 2026, Neurocrine reported total net product sales reaching $811.0 million, which signifies a remarkable 44% increase year-over-year. This phenomenal growth is largely attributed to the heightened demand for its key products, INGREZZA® (valbenazine) and CRENESSITY® (crinecerfont).

Notably,

• - INGREZZA alone generated sales of $656.9 million, reflecting a 20% year-over-year growth that resulted from rising prescription volumes. This upward trend indicates robust patient demand, though it was somewhat tempered by a decrease in the net price compared to the first quarter of the previous year.
• - CRENESSITY, on the other hand, contributed $153.3 million in net product sales, benefitting from substantial patient uptake with a reimbursement level of around 80% for dispensed prescriptions.

The overall revenue for the quarter amounted to $814.5 million, compared to $572.6 million for the same timeframe last year, reflecting a remarkable 42% increase.

Clinical Developments and Strategic Moves

Neurocrine has embarked on several pivotal initiatives to expand its therapeutic reach. The company recently announced its definitive agreement to acquire Soleno Therapeutics for $53.00 per share, totaling about $2.9 billion. This acquisition is set to enhance Neurocrine's portfolio with VYKAT™ XR (diazoxide choline), a treatment aimed at addressing hyperphagia in patients with Prader-Willi syndrome. The transaction is anticipated to close in the second quarter of 2026.

Moreover, Neurocrine initiated a Phase 2 clinical study involving NBI-1117570, a dual M1/M4 selective agonist designed for adults diagnosed with schizophrenia. This research demonstrates Neurocrine's commitment to developing innovative therapies to cater to significant unmet medical needs.

Commitment to Growth

Kyle W. Gano, CEO of Neurocrine, emphasized the company's ongoing commitment to growth and diversification across various therapeutic domains. He stated, “Our first-quarter performance is indicative of the sustained momentum throughout our commercial portfolio.” Neurocrine is diligently expanding its product pipeline while aiming to deliver transformative therapies to patients, significantly enhancing its competitive positioning in the market.

Financial Overview

In terms of operating income, Neurocrine achieved a GAAP operating income of $193.4 million, a striking improvement from $23.6 million in the previous year. The net income for the quarter soared to $197.9 million, translating to earnings per share of $1.91, markedly up from $0.08 last year.

With total cash, cash equivalents, and marketable securities totaling approximately $2.65 billion as of March 31, 2026, the company is well-equipped to support its growth strategies.

Looking Ahead

Neurocrine has reaffirmed its financial guidance for 2026, indicating expected net sales of INGREZZA to fall within the range of $2.7 billion to $2.8 billion. The company is set to continue its relentless pursuit of groundbreaking treatments while addressing crucial healthcare challenges.

In conclusion, Neurocrine Biosciences’ impressive first-quarter results illustrate a clear trajectory of growth and innovation, positioning the company favorably for the future. With its commitment to addressing complex medical needs and expanding its product offerings, Neurocrine is paving the way for continued success in the biopharmaceutical industry.