Key Takeaways:
Neurocrine Biosciences Inc. (NASDAQ: NBIX) reported first-quarter net product sales that exceeded $800 million for the first time in company history, a 44 percent increase year-over-year that significantly beat analyst expectations.
"Our first quarter performance reflects meaningful progress along that path," Chief Executive Officer Kyle Gano said on the company's earnings call. "With INGREZZA guidance reaffirmed at $2.7 to $2.8 billion, Cranesini now annualizing at over $600 million per year... we are well positioned to deliver record net product sales in 2026."
The biopharmaceutical company posted quarterly earnings of $1.94 per share, beating the Zacks Consensus Estimate of $1.68 per share. The results were driven by strong underlying demand for its two main commercial assets, INGREZZA and CRINESITY, which generated sales of $657 million and $153 million, respectively. The company generated approximately $200 million of net income on a non-GAAP basis.
Shares of Neurocrine Biosciences will be closely watched in the next trading session following the announcement. The strong performance and reaffirmed guidance set a positive tone for the company, which is also advancing a robust pipeline with plans for six new phase one and four new phase two programs in 2026 alone.
INGREZZA, a treatment for tardive dyskinesia now in its ninth year, continued its double-digit growth trajectory, with first-quarter sales rising 20 percent year-over-year. Chief Commercial Officer Eric S. Benevich noted that despite its time on the market, the drug continues to see record new patient starts, with approximately 90 percent of the estimated 800,000 TD patients in the U.S. yet to receive a VMAT2 inhibitor like INGREZZA.
CRINESITY, for classic congenital adrenal hyperplasia (CAH), also showed strong momentum, with sales of $153 million. The launch continues to progress with steady new patient starts and high persistency rates. "With sales now annualizing at greater than $600 million, Cranesity is well on its way to achieving blockbuster status," Benevich said.
Beyond its commercial success, Neurocrine is heavily investing in its research and development. The company highlighted multiple key data readouts expected in 2027, including for treatments in major depressive disorder, schizophrenia, and obesity. The company also expects to close its acquisition of Soleno Therapeutics and its lead asset, iCAT XR for Prader-Willi syndrome, in the second quarter.
The strong quarterly performance and expanding pipeline signal management's confidence in continued growth. Investors will be looking to the second-quarter earnings call for updated financial details following the close of the Soleno acquisition and for further progress on the company's nine phase one programs currently underway.
This article is for informational purposes only and does not constitute investment advice.
