Business
Neurocrine Biosciences Reports First Quarter 2020 Financial Results
INGREZZA® (valbenazine) First Quarter Net Product Sales of $231 Million with Approximately 41,500 TRx ONGENTYS® (opicapone) Approved by the U.S. Food and Drug
About this update from Neurocrine Biosciences, Inc.
[{"type":"text","content":"INGREZZA® (valbenazine) First Quarter Net Product Sales of $231 Million with Approximately 41,500 TRx\n ONGENTYS® (opicapone) Approved by the U.S. Food and Drug Administration (FDA) as a Once-Daily Adjunctive Treatment for Patients with Parkinson's Disease Experiencing \"Off\" Episodes\n Results of the Phase II Proof-of-Concept Study of Crinecerfont in Adult Patients with Congenital Adrenal Hyperplasia to be Presented at the Virtual ENDO Online 2020 Meeting on June 8th\n\n\nSAN DIEGO, May 6, 2020 /PRNewswire/ -- Neurocrine Biosciences, Inc. (Nasdaq: NBIX) today announced its financial results for the first quarter ended March 31, 2020 and provided revised full-year 2020 financial expense guidance. \n\n \n \n \n \n \n \n\n \n\"First and foremost, I would like to thank our employees, healthcare providers and suppliers for their commitment and dedication in managing these tough times. Together, we remain focused on ensuring that patients with tardive dyskinesia, many of whom are managing their involuntary movements with a mental health condition, are well supported and have uninterrupted access to INGREZZA,\" said Kevin Gorman, Ph.D., Chief Executive Officer of Neurocrine Biosciences. \"Even during these challenging times, we continue to see strong persistency and compliance with INGREZZA.\"\n\"With the recent FDA approval of ONGENTYS for patients with Parkinson's disease, we're excited to add another treatment for movement disorders to our portfolio and look forward to making it available to patients later this year. In addition, we are well positioned to launch clinical studies of several compounds in our pipeline and plan to have on-going studies in three registrational programs and four mid-stage programs by the end of this year,\" Gorman added. \"The company is in a strong financial position, enabling us to navigate through this pandemic while continuing to execute on our mission to discover, develop and deliver important medicines to treat patients with neurological, endocrine, and psychiatric disorders.\"\nFirst Quarter 2020 Financial Highlights \nThree Months Ended\nMarch 31,\n(unaudited, in millions, except per share data)\n2020\n2019\nRevenues:\nINGREZZA® (valbenazine) product sales, net\n$\n231.1\n$\n136.4\nCollaboration revenue\n6.0\n2.0\nTotal revenues\n$\n237.1\n$\n138.4\nGAAP Research and Development (R&D)\n$\n58.3\n...