Healthcare stock to watch: Neurocrine Biosciences, Inc. (NASDAQ: NBIX)

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Neurocrine Biosciences, Inc. (NASDAQ: NBIX) stock rose over 0.6% on 5th Feb, 2020 (as of 10:36 am GMT-5 ; Source: Google finance) after the company posted mixed results for the fourth quarter of FY 19. The company has reported the fourth quarter of 2019 non-GAAP net income of $102 million compared to $38 million in the fourth quarter of 2018. As of December 31, 2019, the Company had cash, cash equivalents and marketable securities totaling $970 million.

NBIX in the fourth quarter of FY 19 has reported the adjusted earnings per share of 35 cents, missing the analysts’ estimates for the adjusted earnings per share of 82 cents, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue of $244.10 million in the fourth quarter of FY 19, beating the analysts’ estimates for revenue by 0.71%. During the fourth quarter, the Research and Development (R&D) investment increased compared to the fourth quarter of 2018 mainly due to the Company’s ongoing activities in congenital adrenal hyperplasia studies and in gene therapy partially offset by prior year spending on the Tourette syndrome program. The company incurred the In-Process Research and Development (IPR&D) expense of $36 million in the fourth quarter of 2019 due to the Company’s collaboration with Xenon Pharmaceuticals specific to NBI-921352 (XEN901) for epilepsy.

Meanwhile, in January 2020, the company had announced an option agreement that was originally signed in 2019 with Idorsia granting the Company an option to license ACT-709478, a potent, selective, orally-active, and brain penetrating T-type calcium channel blocker, in clinical development for the treatment of a rare pediatric epilepsy. A Phase II study in a rare pediatric epilepsy is planned in 2H 2020, which depends upon IND application acceptance by the FDA in mid-2020.

In addition, in December 2019, the Company had signed a license and collaboration agreement with Xenon, which is a clinical-stage biopharmaceutical company. According to the terms of the agreement, the Company has gained an exclusive license to NBI-921352, which is a clinical-stage selective Nav1.6 sodium channel inhibitor with potential in SCN8A developmental and epileptic encephalopathy (SCN8A-DEE) and other forms of epilepsy, including focal epilepsy. Upon filing of an Investigational New Drug (IND) application with the U.S. Food and Drug Administration (FDA) in mid-2020, the Company plans to commence a Phase II study in SCN8A-DEE patients in 2H 2020.

For fiscal 2020, the company expects Combined Non-GAAP R&D and SG&A expenses to be in the range of $620 to $650

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