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Jun 30, 2024
Neurocrine Biosciences Q2 2024 Earnings Report
Reported second quarter 2024 financial results and raised 2024 INGREZZA sales guidance.
Key Takeaways
Neurocrine Biosciences reported strong second-quarter results, with INGREZZA net product sales reaching $580 million, a 32% increase year-over-year. The company raised its 2024 INGREZZA net product sales guidance to $2.25 - $2.3 billion.
INGREZZA second quarter net product sales were $580 million, representing 32% year-over-year growth.
2024 Net Product Sales Guidance Raised to $2.25 - $2.3 Billion
Top-Line Phase 2 Data Readouts for NBI-’568 and Luvadaxistat Remain On Track in Q3
GAAP net income and earnings per share were $65 million and $0.63, respectively
Neurocrine Biosciences
Neurocrine Biosciences
Neurocrine Biosciences Revenue by Segment
Revenue by Segment
INGREZZA Revenue
CapyFin.com Forward Guidance
Neurocrine Biosciences raised its 2024 INGREZZA net product sales guidance and updated its expense guidance range.
Positive Outlook
- INGREZZA Net Product Sales: $2,250 - $2,300 million
- GAAP R&D Expense: $665 - $695 million
- Non-GAAP R&D Expense: $600 - $630 million
- GAAP and Non-GAAP IPR&D: $9 million
- GAAP SG&A Expense: $955 - $975 million
Challenges Ahead
- Non-GAAP SG&A Expense: $830 - $850 million
- GAAP R&D guidance includes $33 million of expense for development milestones
- Non-GAAP guidance adjusted to exclude estimated non-cash stock-based compensation expense of approximately $65 million in R&D and $110 million in SG&A and $14 million leased office space impairment charge in SG&A.
- SG&A guidance range reflects expense for ongoing commercial initiatives supporting INGREZZA growth including the announced planned expansion of the psychiatry and long-term care sales teams and pre-launch commercial activities for crinecerfont.
- Acquired in-process R&D (IPR&D) is included in guidance once significant collaboration and licensing arrangements have been completed.