Neurocrine Biosciences Showcases Strong Financial Performance
Total net product sales for the fourth quarter and full year reached $798.3 million and $2.83 billion, reflecting remarkable year-over-year growth of 29% and 22%
As we move into 2026, Neurocrine Biosciences, Inc. (NASDAQ: NBIX) anticipates ongoing success with INGREZZA, our leading treatment for tardive dyskinesia, projecting net product sales guidance between $2.7 billion and $2.8 billion.
2025 Full-Year Revenue Highlights
In breaking down our financial results, fourth-quarter and full-year performance showed that INGREZZA generated $657.5 million and $2.51 billion in net product sales, indicating a 7% and 9% growth, respectively, year-over-year. This strong surge resulted from heightened prescription volume driven by robust patient demand, although partially tempered by a lower net price due to recent investments in formulary access.
Additionally, CRENESSITY, our new therapeutic option, achieved impressive sales of $135.3 million and $301.2 million in net product sales for the corresponding periods. This success was accompanied by a significant increase in patient enrollment, reflecting over 80% reimbursement coverage.
Recent Clinical and Corporate Milestones
- We published a significant narrative review focusing on FDA-approved VMAT2 inhibitors, emphasizing INGREZZA's unique attributes in managing patients with neuropsychiatric disorders.
- At a recent scientific meeting, we presented pivotal data demonstrating the superior efficacy of INGREZZA, showcasing nearly double the VMAT2 mean target occupancy compared to AUSTEDO XR after a single dosage.
- During our R&D Day, we provided updates on our burgeoning pipeline which includes key Phase 3 programs investigating osavampator for major depressive disorder and direclidine for schizophrenia.
- We initiated a Phase 2 clinical study for NBI-1065890, targeting adults with tardive dyskinesia, showcasing the innovation behind our next-generation VMAT2 inhibitors.
2025 Financial Highlights and Insights
To further illustrate our financial health:
- Fourth-quarter GAAP net income stood at $153.7 million, with earnings per share of $1.48, substantially ahead of 2024's figures.
- Non-GAAP net income for the fourth quarter reached $194.6 million, reflecting a consistent upward trend.
- By year’s end, the company's total cash, cash equivalents, and marketable securities approximated $2.54 billion, ensuring we are well-positioned for sustained future investments.
Financial Guidance for 2026
As we set our sights on 2026, we provide robust financial guidance to our stakeholders. Anticipated net product sales for INGREZZA are expected to lie between $2.7 billion and $2.8 billion. This guidance reflects our unwavering commitment to advancing our pre-clinical and clinical portfolio and highlights our anticipated investments such as:
- Ongoing R&D to drive the development of leading-edge therapies, including extensive efforts in osavampator and direclidine.
- Continued investment in commercial initiatives to support INGREZZA’s growth and the strategic launch of CRENESSITY.
Live Conference Call Scheduled
Neurocrine Biosciences will conduct a live conference call to delve deeper into these financial insights. Participants can dial in and engage in discussions about our strategies for continued innovation and growth.
About Neurocrine Biosciences
Neurocrine Biosciences aims to be a beacon of hope for patients suffering from under-addressed neurological and psychiatric disorders. With a pipeline boasting multiple compounds in mid-to-late phase development, we strive to better the lives of those with chronic conditions. Our commitment remains steadfast in delivering groundbreaking therapies that redefine patient care, driven by a passion for neuroscience and innovation.
Frequently Asked Questions
What were the total net product sales for 2025?
Total net product sales reached $2.83 billion for the full year 2025.
How does Neurocrine plan to grow in 2026?
Neurocrine aims to achieve strong, sustainable growth through enhanced net product sales for INGREZZA, with projected guidance between $2.7 billion and $2.8 billion for 2026.
What is the significance of the recent clinical data presented?
The clinical data showcased Neurocrine's competitive edge with INGREZZA, showing superior VMAT2 occupancy, which is linked to better efficacy in treating associated disorders.
How is Neurocrine preparing for the CRENESSITY launch?
Investments are being funneled into commercial strategies to maximize patient access and support for CRENESSITY’s market introduction.
What is Neurocrine's mission moving forward?
Neurocrine is devoted to delivering transformative solutions for chronic conditions, enhancing the quality of life for patients through continuous research and development innovations.
