Neurocrine Biosciences ( (NBIX) ) has released its Q4 earnings. Here is a breakdown of the information Neurocrine Biosciences presented to its investors.
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Neurocrine Biosciences is a biopharmaceutical company focused on neuroscience, dedicated to developing treatments for neuropsychiatric, neurological, and neuroendocrine disorders.
In its latest earnings report, Neurocrine Biosciences announced a significant increase in product sales for its flagship drug INGREZZA, reaching $2.3 billion for fiscal year 2024, marking a 26% growth over the previous year. The company also highlighted the successful launch of CRENESSITY, a new treatment for congenital adrenal hyperplasia.
Key financial metrics showed robust performance with total revenues increasing to $2.36 billion in 2024, up from $1.89 billion in 2023. The company reported a GAAP net income of $341.3 million, an improvement from $249.7 million the previous year. Notably, Neurocrine’s non-GAAP net income saw a significant rise to $656.3 million, driven by higher sales and strategic investments in R&D and SG&A.
Looking forward, Neurocrine Biosciences remains optimistic about its growth trajectory, with projected INGREZZA sales for 2025 expected to be between $2.5 and $2.6 billion. The company is also advancing its pipeline with new phase 3 programs, indicating a strong focus on expanding its market presence and addressing unmet medical needs.
