Slide 1: Advancing Life-Changing Discoveries in Neuroscience
Advancing Life-Changing Discoveries in Neuroscience Neurocrine Biosciences (Nasdaq: NBIX) Q1 2026 Earnings Presentation May 5, 2026 1
Slide 2: Safe Harbor and Forward-Looking Statements
Safe Harbor and Forward-Looking Statements In addition to historical facts, this presentation contains forward-looking statements that involve a number of risks and uncertainties. These statements include, but are not limited to, statements related to: our business strategy, objectives, and future d
Slide 3: Neurocrine Is Well-Positioned to Drive Sustainable Growth and Value
Neurocrine Is Well-Positioned to Drive Sustainable Growth and Value COMMERCIAL RESEARCH & DEVELOPMENT STRONG FINANCIAL POSITION • Neurology INGREZZA TARDIVE DYSKINESIA & • Psychiatry *,1 Therapeutic Area 2026 FY Net Sales Guidance Range HUNTINGTON’S DISEASE CHOREA • Endocrinology Diversification $2.
Slide 4: R&D Will Deliver A New Medicine Every Two Years
R&D Will Deliver A New Medicine Every Two Years Multimodality Mid-stage pipeline focused on clinically Commitment to R&D innovation engine or genetically validated targets Internal Drug Discovery Research 4+ Phase 1 Starts Target level of Right Modality for the productivity each year Right Target (O
Slide 5: Robust Pipeline Entering 2026
Modality Key: Small Gene Molecule Peptide Antibody Therapy Robust Pipeline Entering 2026 Therapeutic Psychiatry Neurology Endocrinology Area Key: Immunology Smart and Strategic Diversification Study Planned to be Phase 1 Phase 2 Phase 3 Initiated In 2026 NBIB-’223 (Frataxin) NBI-’569* (M1/M4 Agonist
Slide 6: Neurocrine Well-Positioned to Drive Sustainable Growth and Value
Neurocrine Well-Positioned to Drive Sustainable Growth and Value Commercial 2026 New Study Initiations 2027 Study Data Readouts INGREZZA® (valbenazine) 2 New Phase 2 Programs Recenlty Initiated: Phase 3 • 2026 Net Sales Guidance Range of $2.7 - $2.8B • NBI-’570 (Dual M1 / M4 Agonist for Schizophreni
Slide 7: Q1 2026 Results
Q1 2026 Results 1S) NeuRoc
Slide 8: Delivering Strong and Diversified Growth with Over $800M in Q1 2026 Net Sales
Delivering Strong and Diversified Growth with Over $800M in Q1 2026 Net Sales Between INGREZZA and CRENESSITY $ Millions +45% 900 $785 $793 $810 800 $677 98 135 153 700 $560 53 600 15 500 400 687 658 657 300 624 545 200 100 0 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 INGREZZA CRENESSITY 8
Slide 9: Q1 2026 Financial Summary
Q1 2026 Financial Summary $ Millions, Except Non-GAAP Earnings Per Share Item Q1 2026 Q1 2025 Highlights / Comments Total Revenue Grew 42% YoY Revenue $815 $573 INGREZZA Sales Grew 20% YoY Driven by Strong Patient Demand - INGREZZA Net Product Sales $657 $545 Partially Offset by Lower Net Price - CR
Slide 10: 2026 INGREZZA Net Sales and Expense Guidance Reaffirmed
2026 INGREZZA Net Sales and Expense Guidance Reaffirmed 2026 Guidance Item ($ Millions) 2025 Actuals Range Reaffirmed INGREZZA Net Product Sales1 $2,514 $2,700 - $2,800 GAAP R&D Expense2 $1,016 $1,200 - $1,250 Non-GAAP R&D Expense2, 3 $925 $1,110 - $1,160 GAAP and Non-GAAP IPR&D4 $17 $20 GAAP SG&A E
Slide 11: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations 11
Slide 12: Condensed Consolidated Statements of Income
NEUROCRINE BIOSCIENCES, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) Three Months Ended March 31, (in millions, except per shave data) 2026 2025 Revenues: Net product sales $s 8110 $ 563.7 Collaboration revenues Total revenues 814. 572.6 Operating expenses: Cost of revenues 13.8 9.2
Slide 13: Condensed Consolidated Balance Sheets
CONDENSED CONSOLIDATED BALANCE SHEETS (in millions) NEUROCRINE BIOSCIENCES, INC. (unaudited) Cash, cash equivalents, and marketable securities Other current assets Total current assets Deferred tax assets Marketable securities Right-of-use assets Equity investments Property and equipment, net Other
Slide 14: Reconciliation of GAAP to Non-GAAP Financial Results
NEUROCRINE BIOSCIENCES, INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL RESULTS, (unaudited) Go nitions GAAP operating income * Adjustments: Stock-based compensation expense - R&D ‘Stock-based compensation expense - SG&A Gaia on sale of business, nct of transaction costs Amortization of acquired i
Slide 15: Advancing Life-Changing Discoveries in Neuroscience
Advancing Life-Changing Discoveries in Neuroscience Neurocrine Biosciences (Nasdaq: NBIX) Q1 2026 Earnings Presentation May 5, 2026