RE: Diurnal shares more than double on takeover bid14 Nov 2022 12:51
Thinking of buying Neurocrine Biosciences, Inc.
( D ) Only has the trdegate euro ones on platform .
From Motley . 11th October 2022.
Neurocrine Biosciences (NBIX -1.45%) stands out as another biotech stock that's trouncing the market. Its shares have jumped more than 25% year to date. Since early May, Neurocrine stock has soared over 40%.
Current Price
$121.44
The company's tardive dyskinesia drug Ingrezza continues to enjoy strong momentum, with sales rising 30% year over year in the second quarter of 2022. Neurocrine even raised its full-year sales guidance for the drug to a range of $1.35 billion to $1.4 billion from its previous forecast of sales between $1.25 billion and $1.35 billion.
Everything hasn't gone Neurocrine's way this year, though. In August, the company reported disappointing results from a phase 2a clinical study evaluating NBI-827104 in treating the neurological disorder essential tremor. After the study failed to meet its endpoints, Neurocrine decided to throw in the towel on any further development of NBI-827104.
However, Neurocrine has plenty of catalysts on the way. It hopes to file for U.S. approval later this year for Ingrezza in treating a second indication -- chorea in Huntington's disease. Results from a late-stage study of the drug in treating schizophrenia are expected next year. The company also expects to report registration data in 2023 from clinical studies evaluating experimental drug crinecerfont in treating the genetic disorder congenital adrenal hyperplasia in adults and in children.