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Dec 31, 2019
Neurocrine Biosciences Q4 2019 Earnings Report
Neurocrine Biosciences' Q4 2019 earnings were discussed, highlighting strong INGREZZA sales and pipeline expansion.
Key Takeaways
Neurocrine Biosciences reported a strong Q4 2019, with INGREZZA net product sales reaching $238 million. The company's net income was $34 million, and it ended the year with $970 million in cash and marketable securities. Increased investment in R&D and SG&A is expected for 2020, driven by pipeline expansion and the anticipated launch of opicapone.
INGREZZA net product sales were $238 million in Q4 2019.
Q4 net income was $34 million, and non-GAAP net income was $102 million.
The company exited the year with $970 million in cash and marketable securities.
Three compounds will be in pivotal clinical trials in 2020.
Revenue by Segment
Forward Guidance
Neurocrine Biosciences anticipates continued growth for INGREZZA and plans to advance its existing programs and expand its pipeline in 2020.
Positive Outlook
- Continued educational efforts to increase diagnosis rates for tardive dyskinesia.
- Potential approval of opicapone by the FDA during the second quarter.
- Advancement of three compounds into pivotal clinical trials.
- Expansion of the pipeline through collaborations and internal research.
- Strong financial position with $970 million in cash and marketable securities.
Challenges Ahead
- First quarter is challenging due to payer-related seasonal dynamics.
- Delays in patient reauthorization processes may impact Q1 revenue.
- An $11 million inventory build in Q4 could lead to an inventory bleed in Q1.
- Increased investment in R&D and SG&A will increase expenses.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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