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Sep 30, 2024
Neurocrine Biosciences Q3 2024 Earnings Report
Reported third quarter 2024 financial results and raised 2024 INGREZZA sales guidance.
Key Takeaways
Neurocrine Biosciences reported strong third-quarter 2024 results, driven by a 26% year-over-year increase in INGREZZA sales, reaching $613 million. The company has raised its 2024 INGREZZA sales guidance to $2.30 - $2.32 billion and the Board authorized a $300 million share repurchase plan.
INGREZZA third quarter net product sales were $613 million, representing 26% year-over-year growth.
2024 INGREZZA net product sales guidance raised to $2.30 - $2.32 billion.
Board of Directors authorized a $300 million share repurchase plan.
GAAP net income and earnings per share were $130 million and $1.24, respectively.
Neurocrine Biosciences
Neurocrine Biosciences
Neurocrine Biosciences Revenue by Segment
Revenue by Segment
INGREZZA Revenue
CapyFin.com Forward Guidance
Neurocrine Biosciences raised its 2024 net sales guidance and updated expense guidance range.
Positive Outlook
- INGREZZA Net Product Sales are expected to be between $2,300 million and $2,320 million.
- The company anticipates advancing NBI-1117568 into Phase 3 development in the first half of 2025.
- Continued investment in INGREZZA, including the expansion of the psychiatry and long-term care sales teams in September 2024.
- Pre-launch commercial activities for crinecerfont are underway.
- The Board of Directors authorized a $300 million share repurchase plan.
Challenges Ahead
- GAAP R&D Expense is projected to be between $700 million and $720 million.
- Non-GAAP R&D Expense is projected to be between $635 million and $655 million.
- GAAP SG&A Expense is projected to be between $970 million and $990 million.
- Non-GAAP SG&A Expense is projected to be between $825 million and $845 million.
- The ERUDITE Phase 2 study of luvadaxistat in cognitive impairment associated with schizophrenia did not meet its primary endpoint.