Business
Neurocrine Biosciences Reports Third Quarter 2020 Financial Results
INGREZZA® (valbenazine) Third Quarter Net Product Sales of $254 million with Approximately 45,100 TRx ONGENTYS® (opicapone) Now Available in the U.S. as an
About this update from Neurocrine Biosciences, Inc.
[{"type":"text","content":"INGREZZA® (valbenazine) Third Quarter Net Product Sales of $254 million with Approximately 45,100 TRx\n ONGENTYS® (opicapone) Now Available in the U.S. as an Add-On Treatment for Patients with Parkinson's Disease Experiencing \"Off\" Episodes\n Initiating Phase II Study of NBI-827104, a Clinical Stage Selective T-type Calcium Channel Blocker, Licensed from Idorsia, for the Treatment of Continuous Spikes and Waves During Sleep (CSWS) Epilepsy\n\n\nSAN DIEGO, Nov. 9, 2020 /PRNewswire/ -- Neurocrine Biosciences, Inc. (Nasdaq: NBIX) today announced its financial results for the third quarter ended September 30, 2020 and provided revised full-year 2020 financial expense guidance.\n\n \n \n \n \n \n \n\n \n\"Our focus remains on helping as many patients with tardive dyskinesia as possible and we are adapting to the challenges posed by the pandemic, including the slow recovery of in-person visits with psychiatrists. We are encouraged by recent trends and remain confident in the intermediate and long-term opportunity of INGREZZA to help many more patients with tardive dyskinesia,\" said Kevin Gorman, Ph.D., Chief Executive Officer of Neurocrine Biosciences. \"We are pleased to expand our reach with neurologists with the addition of ONGENTYS to our movement disorder portfolio and continue to advance our development programs focused on neurological, endocrine and psychiatric disorders.\"\nFinancial Highlights\nThree Months Ended September 30,\nNine Months Ended September 30,\n(unaudited, in millions, except per share data)\n2020\n2019\n2020\n2019\nRevenues:\nProduct sales, net\n$\n254.1\n$\n198.1\n$\n752.8\n$\n515.0\nCollaboration revenue\n4.4\n24.0\n45.2\n29.0\nTotal revenues\n$\n258.5\n$\n222.1\n$\n798.0\n$\n544.0\nGAAP Research and Development (R&D)\n$\n69.1\n$\n45.3\n$\n208.3\n$\n144.7\nNon-GAAP R&D\n$\n60.3\n$\n38.3\n$\n161.9\n$\n116.3\nGAAP Selling, General and Administrative (SG&A)\n$\n112.5\n$\n84.5\n$\n326.8\n$\n252.8\nNon-GAAP SG&A\n$\n94.6\n$\n71.2\n$\n274.2\n$\n217.2\nGAAP net (loss) income\n$\n(57.6)\n$\n53.8\n$\n59.4\n$\n3.0\nGAAP net (loss) income per share – diluted\n$\n(0.62)\n$\n0.56\n$\n0.61\n$\n0.03\nNon-GAAP net income\n$\n96.0\n$\n86.7\n$\n314.2\n$\n181.6\nNon-GAAP net income per share – diluted\n$\n0.97\n$\n0.90\n$\n3.21\n$\n1.91\n(unaudited, in millions)\nSeptember 30, 2020\nDecember 31, 2019\nTotal cash and cash e...