Neurocrine Biosciences, Inc. reported significant financial growth in its latest quarterly results, with total revenues for the first quarter of 2026 reaching $814.5 million, a 42.3% increase from $572.6 million in the same period last year. This growth was primarily driven by a substantial rise in net product sales, which amounted to $811.0 million, up from $563.7 million in the previous year. The company’s net income also saw a notable increase, rising to $197.9 million, compared to $7.9 million in the first quarter of 2025. Earnings per share for the quarter were reported at $1.91 on a diluted basis, a significant rise from $0.08 in the prior year.
The financial performance reflects a strong demand for Neurocrine's products, particularly the recently launched CRENESSITY® (crinecerfont), which contributed $153.3 million in net sales, compared to just $14.5 million in the previous year. The company’s flagship product, INGREZZA® (valbenazine), also performed well, generating $656.9 million in sales, up from $545.2 million. The increase in sales was attributed to higher prescription volumes and strong patient demand, although it was partially offset by a lower net price compared to the first quarter of 2025.
In terms of operational developments, Neurocrine completed the sale of Neurocrine Group Limited to Immedica Pharma AB for $63.2 million in January 2026, resulting in a pre-tax gain of $28.6 million. Additionally, the company announced a merger agreement to acquire Soleno Therapeutics, Inc. for approximately $2.9 billion, with the transaction expected to close in the second quarter of 2026. This acquisition is anticipated to be funded through cash on hand and available investments, which may significantly reduce the company's cash reserves.
Neurocrine's workforce has also expanded, with increased headcount to support its growing research and development initiatives. The company reported total operating expenses of $621.1 million for the quarter, up from $549.0 million in the previous year, reflecting investments in its commercial organization and ongoing clinical programs. Research and development expenses were $296.2 million, driven by late-stage clinical trials and milestone payments related to collaborations, including a $22.5 million milestone payment to Nxera Pharma for the development of NBI-1117570.
Looking ahead, Neurocrine remains optimistic about its growth trajectory, bolstered by the successful launch of CRENESSITY and the anticipated benefits from the Soleno acquisition. The company plans to continue investing in its product pipeline and expanding its market presence, while also managing its capital structure to maintain liquidity. The outlook for the remainder of 2026 suggests a focus on maximizing the commercial potential of its existing products and advancing its development programs across various therapeutic areas.
About NEUROCRINE BIOSCIENCES INC
Neurocrine Biosciences is a biopharmaceutical company specializing in neuroscience. It develops and commercializes treatments for neuropsychiatric, neurological, and neuroendocrine disorders, including FDA-approved drugs like INGREZZA for tardive dyskinesia and Huntington's chorea, and CRENESSITY for congenital adrenal hyperplasia. The company focuses on innovative pipelines across small molecules, peptides, proteins, antibodies, and gene therapies, serving global markets with a competitive edge in rare and underserved neurological conditions.
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