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Neurocrine Biosciences Reports Fourth Quarter and Fiscal 2021 Financial Results and Provides Financial Expectations for Fiscal 2022
INGREZZA® (valbenazine) 2021 Net Product Sales of $1.1 Billion with 200,000 TRx INGREZZA® (valbenazine) 2022 Net Product Sales Guidance of $1.25 - $1.35
About this update from Neurocrine Biosciences, Inc.
[{"type":"text","content":"INGREZZA® (valbenazine) 2021 Net Product Sales of $1.1 Billion with 200,000 TRx\n INGREZZA® (valbenazine) 2022 Net Product Sales Guidance of $1.25 - $1.35 Billion\n Expanded Pipeline Expected to Deliver Multiple Registrational and Phase 2 Study Data Readouts Over the Next Two Years\n\n\nSAN DIEGO, Feb. 11, 2022 /PRNewswire/ -- Neurocrine Biosciences, Inc. (Nasdaq: NBIX) today announced its financial results for the fourth quarter and fiscal year ended December 31, 2021 and provided financial guidance for 2022.\n\n \n \n \n \n \n \n\n \n\"As we exited last year with restored growth for INGREZZA, investments we are making this year will further accelerate our ability to help many more patients with tardive dyskinesia who remain undiagnosed and untreated. Additionally, we now have 12 clinical programs in mid-to-late-stage studies, many which will generate important data readouts over the next two years,\" said Kevin Gorman, Ph.D., Chief Executive Officer of Neurocrine Biosciences. \"With a blockbuster product in INGREZZA, a novel and diverse pipeline, and a strong balance sheet, Neurocrine Biosciences is uniquely positioned to be a leading neuroscience-focused company.\"\nFinancial Highlights\nThree Months Ended\nDecember 31,\nTwelve Months Ended\nDecember 31,\n(unaudited, in millions, except per share data)\n2021\n2020\n2021\n2020\nRevenues:\nProduct sales, net\n$ 303.5\n$ 241.3\n$ 1,090.1\n$ 994.1\nCollaboration revenue\n8.5\n6.6\n43.4\n51.8\nTotal revenues\n$ 312.0\n$ 247.9\n$ 1,133.5\n$ 1,045.9\nGAAP Research and Development (R&D)\n$ 87.4\n$ 66.7\n$ 328.1\n$ 275.0\nNon-GAAP R&D\n$ 75.2\n$ 59.4\n$ 279.7\n$ 241.3\nGAAP Selling, General and Administrative (SG&A)\n$ 156.5\n$ 106.5\n$ 583.3\n$ 433.3\nNon-GAAP SG&A\n$ 133.1\n$ 92.8\n$ 497.5\n$ 367.0\nGAAP net (loss) income \n$ (7.3)\n$ 347.9\n$ 89.6\n$ 407.3\nGAAP (loss) earnings per share – diluted\n$ (0.08)\n$ 3.58\n$ 0.92\n$ 4.16\nNon-GAAP net income\n$ 4.3\n$ 86.9\n$ 185.8\n$ 250.0\nNon-GAAP earnings per share – diluted\n$ 0.04\n$ 0.89\n$ 1.90\n$ 2.56\nDecember 31,\n(unaudited, in millions)\n2021\n2020\nTotal cash, cash equivalents and marketable securities\n$ 1,272.0\n$ 1,028.1\nFourth Quarter and Fiscal 2021 INGREZZA Net Product Sales and Commercial Highlights:\nINGREZZA fourth quarter and fiscal 2021 net product sales of $301 million and $1.1 billion, respectively Fourth quart...