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Mar 31, 2021
Neurocrine Biosciences Q1 2021 Earnings Report
Reported financial results for the first quarter of 2021 and provided revised full-year 2021 financial expense guidance.
Key Takeaways
Neurocrine Biosciences reported first quarter INGREZZA net product sales of $230 million. The company is focused on restoring INGREZZA growth as the impact of the pandemic wanes and is executing its plan to build a leading neuroscience-based company.
INGREZZA net product sales were $230 million.
GAAP net income was $32 million, or $0.33 per share diluted.
Non-GAAP net income was $48 million, or $0.49 per share diluted.
The company had cash, cash equivalents and debt securities available-for-sale of $1.1 billion.
Revenue by Segment
Forward Guidance
The company expects combined GAAP R&D and SG&A expenses in the range of $855 million to $905 million and combined non-GAAP R&D and SG&A expenses in the range of $720 million to $770 million.
Positive Outlook
- Increase to GAAP and Non-GAAP expense guidance range primarily driven by investment in INGREZZA direct-to-consumer marketing campaign, “TD Spotlight”
Challenges Ahead
- GAAP-only guidance includes approximately $130 million of share-based compensation.
- GAAP-only guidance does not include any potential milestones or in-process research and development costs associated with current collaborations or future business development activities.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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