Business
Neurocrine Biosciences Reports Fourth Quarter and Fiscal 2024 Financial Results and Provides Financial Expectations for 2025
INGREZZA® (valbenazine) Fourth Quarter and Full Year 2024 Net Product Sales of $615 Million and $2.3 Billion, Representing Year-Over-Year Growth of 23% and
About this update from Neurocrine Biosciences, Inc.
[{"type":"text","content":"INGREZZA® (valbenazine) Fourth Quarter and Full Year 2024 Net Product Sales of $615 Million and $2.3 Billion, Representing Year-Over-Year Growth of 23% and 26% Respectively\nINGREZZA® (valbenazine) Full Year 2025 Net Product Sales Guidance of $2.5 - $2.6 Billion\nCRENESSITYTM (crinecerfont), a First-in-Class Treatment for Children and Adults with Classic Congenital Adrenal Hyperplasia, Approved and Launched in the United States\nPhase 3 Programs for Osavampator in Major Depressive Disorder and NBI-'568 in Schizophrenia Initiating in the First Half of 2025\nSAN DIEGO, Feb. 6, 2025 /PRNewswire/ -- Neurocrine Biosciences, Inc. (Nasdaq: NBIX) today announced its financial results for the fourth quarter and full year ended December 31, 2024 and provided financial guidance for 2025.\n\n \n \n \n \n \n \n\n \n\"I'm proud of the tremendous progress we made last year with the continued growth of INGREZZA for patients living with tardive dyskinesia or Huntington disease chorea. With the approval and launch of CRENESSITY, we look forward to delivering the first new treatment for the congenital adrenal hyperplasia community in over 70 years, transforming the standard of care for patients,\" said Kyle W. Gano, Ph.D., Chief Executive Officer of Neurocrine Biosciences. \"With a rapidly advancing and growing pipeline and a strong financial profile, we are well positioned to build a leading neuroscience company.\"\nFinancial Highlights\nThree Months Ended\nDecember 31,\nTwelve Months Ended\nDecember 31,\n(unaudited, in millions, except per share data)\n2024\n2023\n2024\n2023\nRevenues:\nNet Product Sales\n$ 621.2\n$ 507.2\n$ 2,330.6\n$ 1,860.6\nCollaboration Revenue\n6.5\n8.0\n24.7\n26.5\nTotal Revenues\n$ 627.7\n$ 515.2\n$ 2,355.3\n$ 1,887.1\nGAAP Research and Development (R&D)\n$ 185.6\n$ 137.5\n$ 731.1\n$ 565.0\nNon-GAAP R&D\n$ 164.4\n$ 124.3\n$ 662.3\n$ 497.0\nGAAP Selling, General, and Administrative (SG&A)\n$ 287.8\n$ 218.9\n$ 1,007.2\n$ 887.6\nNon-GAAP SG&A\n$ 241.6\n$ 194.0\n$ 862.5\n$ 757.4\nGAAP Net Income\n$ 103.1\n$ 147.7\n$ 341.3\n$ 249.7\nGAAP Earnings Per Share – Diluted\n$ 1.00\n$ 1.44\n$ 3.29\n$ 2.47\nNon-GAAP Net Income\n$ 173.4\n$ 157.7\n$ 656.3\n$ 390.0\nNon-GAAP Earnings Per Share – Diluted\n$ 1.69\n$ 1.54\n$ 6.33\n$ 3.86\n(unaudited, in millions)\nDecember 31,\n2024\nDecember 31,\n2023\nTotal Cash, Cash Equivalents, and Mar...