I’ve noted before that for all of the positives of the Neurorince Biosciences (NBIX) story, the company has never had an especially dynamic or productive R&D operation when it comes to generating new clinical candidates. With Ingrezza driving the company to profitability and positive free cash flow, management is augmenting its internal R&D efforts by actively looking for licensing and acquisition candidates, and the company announced another such deal earlier this week.
Neurocrine’s agreement with Xenon Pharmaceuticals (XENE) is fairly typical for an early-stage licensing and development agreement. Xenon doesn’t really