NBIX - Neurocrine spikes to record biggest gain in 10 months despite quarterly miss

Recording the biggest intraday gain since March 2021, Neurocrine Biosciences (NBIX +5.9%) is trading sharply higher on above-average volume despite its lower-than-expected financials for Q4 2021, as reported by the company on Friday before the market open. Backed by ~32% YoY growth in total prescriptions, the fourth quarter INGREZZA sales reached $301M with ~25% YoY growth, while for the full year, tardive dyskinesia therapy generated $1.1B in net product sales. For the quarter, total net product sales expanded ~26% YoY to ~$303.5M leading to $1.1B in net product sales for the full year. Meanwhile, the total revenue for the quarter and full-year climbed ~26% and ~8% YoY to $312.0M and $1.1B, respectively. However, Neurocrine (NASDAQ:NBIX) reported a GAAP net loss of $7.3M compared to the net income of $347.9M in the prior-year period, while net income for the full year narrowed ~78% YoY $89.6M. GAAP SG&A expenses climbed ~35% YoY

For further details see:

Neurocrine spikes to record biggest gain in 10 months despite quarterly miss