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Saturday, June 19, 2021

Why is Neurocrine Biosciences, Inc. (NBIX) stock fluctuating?

Neurocrine Biosciences, Inc.(NBIX) stock gained 10.75% in the extended trading on Wednesday, March 24, 2021, after going down slightly 0.75%) in the morning session. Let’s see what’s the latest developments about NBIX.


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Inauguration in the S&P Dow Jones

On March 24, 2021, NIBX said that it would be Inaugurating in the S&P Dow JonesMidCap 400 on Tuesday, March 30, before trading.

NIBX presented New Data Analyses for Crinecerfont

Neurocrine Biosciences presented its additional positive data virtually from its Phase II CAHlibrate study of crinecerfont, an investigational, oral, non-steroidal corticotropin-releasing factor type 1 (CRF1) receptor antagonist for the potential treatment of classic congenital adrenal hyperplasia (CAH) due to 21-hydroxylase deficiency (21-OHD), at ENDO 2021, the Endocrine Society’s annual meeting which took place on March 20–23, 2021.

Luvadaxistat failure announcement

On March 2, 2021, NIBX shared the topline data from the Phase 2 INTERACT study evaluating Luvadaxistat (NBI-1065844/TAK-831) for the treatment of negative symptoms and cognitive impairment associated with schizophrenia.

The trial did not meet its primary endpoint as measured by the change from baseline on the PANSS NSFS (score used to assess schizophrenia symptom severity) at Day 84,and it failed to improve Schizophrenia symptom severity

Luvadaxistat is an oral, selective inhibitor with a high binding affinity to d-amino acid oxidase. It targets glutamate, an abundant neurotransmitter in the brain. 

NBIX is said thatLuvadaxistat met secondary endpoints of cognitive assessment, which merit further clinical evaluation.

Recent financial results

Neurocrine Biosciences reported its financial resultsfor the fourth quarter and full-year ended December 31, 2020, on February 4, 2021

Q4 2020 Financial Highlights:

  • NIBX net income for the fourth quarter was$348 million or $3.58 per diluted share compared with $34 million and $0.35 per diluted share for Q4 2019.
  • non-GAAP net income for the fourth quarter of 2020 was $88 million or $0.91per share, compared to $102 million 0r $1.05 per share in the same quarter of 2019.
  • The Company had cash, cash equivalents and debt securities available-for-sale of $1.0 billion on December 31,2020.
  • It spent $106.5 million (GAAP) in selling, general and administrative expenses in the reported quarter compared to $101.3 million in Q4 of 2019
  • $66.7 million spent in R&D expenses in the fourth quarter of 2020 compared with $55.3 million in Q4 2019.

Conclusion: NIBX stock soared 161%in the last five years, and it is one of the safe stocks to invest in.

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