Neurocrine Biosciences Inc (NASDAQ:NBIX) reported Q4 Ingrezza sales of $301 million, +25% Y/Y, with total prescriptions up 32%
- Overall sales increased $312.0 million 26%, missing the consensus of $316.79 million.
- Ingrezza (valbenazine) is indicated for adults with movements in the face, tongue, or other body parts that cannot be controlled (tardive dyskinesia).
- "As we exited last year with restored growth for INGREZZA, investments we are making this year will further accelerate our ability to help many more patients with tardive dyskinesia who remain undiagnosed and untreated. Additionally, we now have 12 clinical programs in mid-to-late-stage studies, many which will generate important data readouts over the next two years," said Kevin Gorman, Ph.D., Chief Executive Officer of Neurocrine Biosciences.
- Q4 adjusted net income and EPS were $4 million and $0.04, respectively, compared with $87 million and $0.89, respectively, for Q4 FY20, driven by the $100 million upfront fee paid to Sosei Heptares under exclusive license agreement.
- On December 31, 2021, the Company held cash, cash equivalents, and marketable securities of $1.3 billion.
- Guidance: For FY22, Neurocrine expects Ingrezza sales of $1.25 billion - $1.35 billion.
- Price Action: NBIX shares 6.19% at $84.53 during the market session on the last check Friday.
