Business
Neurocrine Biosciences Reports Third Quarter 2021 Financial Results
INGREZZA® (valbenazine) Third Quarter 2021 Net Product Sales of $287 Million with Approximately 52,000 Total Prescriptions SAN DIEGO, Nov. 1, 2021
About this update from Neurocrine Biosciences, Inc.
[{"type":"text","content":"INGREZZA® (valbenazine) Third Quarter 2021 Net Product Sales of $287 Million with Approximately 52,000 Total Prescriptions\n\n\nSAN DIEGO, Nov. 1, 2021 /PRNewswire/ -- Neurocrine Biosciences, Inc. (Nasdaq: NBIX) today announced its financial results for the third quarter ended September 30, 2021.\n\n \n \n \n \n \n \n\n \n\"Our third quarter results reflect INGREZZA's continued growth. With this momentum and increased investment to expand our commercial footprint, we can better serve patients and our customers, and significantly improve diagnosis and treatment rates for people living with tardive dyskinesia,\" said Kevin Gorman, Ph.D., Chief Executive Officer of Neurocrine Biosciences. \"We are prudently investing in our advancing and growing R&D pipeline. With important clinical data read-outs expected over the next two years, we are executing well on our strategy to become a leading neuroscience-focused company.\"\nFinancial Highlights\nThree Months Ended\nSeptember 30,\nNine Months Ended\nSeptember 30,\n(unaudited, in millions, except per share data)\n2021\n2020\n2021\n2020\nRevenues:\nProduct sales, net\n$\n288.8\n$\n254.1\n$\n786.6\n$\n752.8\nCollaboration revenue\n7.2\n4.4\n34.9\n45.2\nTotal revenues\n$\n296.0\n$\n258.5\n$\n821.5\n$\n798.0\nGAAP Research and Development (R&D)\n$\n92.7\n$\n69.1\n$\n240.7\n$\n208.3\nNon-GAAP R&D\n$\n80.7\n$\n60.3\n$\n204.5\n$\n181.9\nGAAP Selling, General and Administrative (SG&A)\n$\n154.6\n$\n112.5\n$\n426.8\n$\n326.8\nNon-GAAP SG&A\n$\n129.5\n$\n94.6\n$\n364.4\n$\n274.2\nGAAP net income (loss)\n$\n22.5\n$\n(57.6)\n$\n96.9\n$\n59.4\nGAAP net income (loss) per share – diluted\n$\n0.23\n$\n(0.62)\n$\n0.99\n$\n0.61\nNon-GAAP net income (loss)\n$\n62.6\n$\n(16.9)\n$\n181.5\n$\n163.1\nNon-GAAP net income (loss) per share – diluted\n$\n0.64\n$\n(0.18)\n$\n1.85\n$\n1.66\n(unaudited, in millions)\nSeptember 30,\n2021\nDecember 31,\n2020\nTotal cash, cash equivalents and debt securities available-for-sale\n$\n1,279.6\n$\n1,028.1\nThird Quarter INGREZZA Net Product Sales and Commercial Highlights:\nNet product sales for the third quarter of 2021 were $287 million and $285 million on an inventory adjusted basis Record total prescriptions achieved during the third quarter 2021 reflecting higher customer demand and increased commercial activities New prescriptions increased throughout the third quarter...