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Investing.com -- Neurocrine Biosciences, Inc. (NASDAQ:NBIX) shares surged 10.3% after the company reaffirmed its 2025 guidance for its flagship drug INGREZZA, despite missing analyst estimates for the first quarter.
The biopharmaceutical company reported first quarter adjusted earnings per share of $0.70, falling short of the $0.77 analyst consensus. Revenue came in at $572.6 million, below expectations of $593.71 million. However, investors focused on the company’s reiterated full-year 2025 guidance for INGREZZA net product sales between $2.5 billion and $2.6 billion.
INGREZZA, used to treat tardive dyskinesia and Huntington’s disease, saw first quarter net product sales of $545.2 million, up 8% YoY. The company cited record new patient starts and improved gross-to-net dynamics as drivers of growth.
"We delivered a record number of new patient starts for INGREZZA, which is especially impressive given the typically challenging first quarter," said Kyle W. Gano, Ph.D., Chief Executive Officer of Neurocrine Biosciences.
The company also reported $14.5 million in first quarter net product sales for CRENESSITY, its newly launched treatment for congenital adrenal hyperplasia.
Neurocrine Biosciences highlighted the initiation of Phase 3 trials for osavampator in major depressive disorder and NBI-’568 in schizophrenia, positioning the company for future growth beyond its current product lineup.
The strong market reaction suggests investors are optimistic about INGREZZA’s continued growth trajectory and the company’s expanding pipeline.
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