Neurocrine Biosciences Raises 2024 INGREZZA Net Product Sales Guidance

(RTTNews) - Neurocrine Biosciences, Inc. (NBIX) has increased INGREZZA 2024 net product sales guidance to $2.25 - $2.3 billion. Non-GAAP R&D expense is now expected in a range of $600 million to $630 million.

Kevin Gorman, CEO of Neurocrine Biosciences, said: "We are in the process of building our endocrinology team and expanding the INGREZZA salesforce, positioning our company for continued strong growth in the years ahead."

Second quarter earnings came in at $65.0 million, or $0.63 per share compared with $95.5 million, or $0.95 per share, in last year's second quarter. Adjusted earnings per share was $1.63 compared to $1.25. Analysts on average had expected the company to earn $1.03 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 30.4% to $590.2 million from $452.7 million last year. INGREZZA net product sales were $580 million, grew 32% compared to the second quarter 2023.

Shares of Neurocrine Biosciences are up 4% in pre-market trade on Thursday.

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