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Sep 30, 2021
Neurocrine Biosciences Q3 2021 Earnings Report
Neurocrine Biosciences reported financial results for Q3 2021, highlighted by INGREZZA's net product sales of $287 million and record total prescriptions.
Key Takeaways
Neurocrine Biosciences announced positive financial results for the third quarter of 2021, with INGREZZA's continued growth driving revenue. The company is expanding its commercial footprint and investing in its R&D pipeline, with several clinical data read-outs expected over the next two years.
Third quarter net product sales for INGREZZA were $287 million.
Record total prescriptions were achieved during the third quarter 2021, reflecting higher customer demand.
New prescriptions increased throughout the third quarter, reaching their highest levels since March 2020.
The company is expanding its commercial organization in 2022 to better meet the needs of healthcare professionals.
Revenue by Segment
Forward Guidance
Neurocrine Biosciences provides full-year 2021 expense guidance, with combined GAAP R&D and SG&A expenses expected to be between $895 million and $915 million, and combined Non-GAAP R&D and SG&A expenses expected to be between $760 million and $780 million.
Positive Outlook
- Registrational top-line data for Valbenazine in Chorea in Huntington Disease expected in December.
- Mitsubishi Tanabe Pharma Corporation submitted Marketing Authorization with Ministry of Health and Welfare in Japan for Tardive Dyskinesia.
- Initiating Registrational Study in Q4 for Dyskinesia Due to Cerebral Palsy.
- Initiating Registrational Study in November for Adjunctive Treatment in Schizophrenia.
- Enrolling Registrational Study for Crinecerfont in Congenital Adrenal Hyperplasia (Adult).
Challenges Ahead
- Risks associated with the commercialization of INGREZZA and ONGENTYS.
- The impact of the evolving COVID-19 pandemic on our business and the business operations of our customers.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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