Track market-moving stories before they get noisy

Key Takeaways Crenessity sales hit $337 million in the first half of 2026, up roughly 400% year over year.About 15% of diagnosed classic CAH patients have been prescribed Crenessity, leaving room to expand.Vertex's planned $10 billion Crinetics deal could strengthen a key rival currently advancing phase III. Neurocrine Biosciences (NBIX - Free Report) continues to rely heavily on its blockbuster VMAT2 inhibitor, Ingrezza, for top-line growth. Still, the company is making meaningful progress beyond the drug as Crenessity gains traction in classic congenital adrenal hyperplasia (CAH), a rare genetic condition involving the adrenal glands.

Launched in December 2024, Crenessity is an oral therapy designed to reduce excessive adrenal androgen production and, in turn, help lower the amount of glucocorticoid (steroid) treatment needed. The drug is emerging as an increasingly important contributor to Neurocrine's commercial portfolio.

Crenessity generated $337 million in sales during the first half of 2026, up roughly 400% year over year and surpassing the $301 million generated in 2025. The strong performance was supported by growing adoption among adult and pediatric patients, with Neurocrine's prescriber base nearly tripling from a year ago. The rapid uptake highlights the drug's increasing contribution to Neurocrine's revenue base and its potential to become a meaningful growth driver alongside Ingrezza.

Neurocrine has not yet provided sales guidance for Crenessity, as the launch remains relatively early and the company continues to learn more about the market and the drug's growth trajectory. About 15% of the estimated diagnosed classic CAH population has now been prescribed the drug, while Neurocrine estimates that at least 20,000 people in the United States have classic CAH. This low penetration leaves substantial room for further adoption and sales expansion. Meanwhile, reimbursement for dispensed prescriptions was approximately 80% in the second quarter, and Neurocrine continues to broaden its reach among pediatric and adult endocrinologists and Centers of Excellence.

Competition Could Pose a Concern for NBIX Over TimeCrenessity's growing presence in the CAH market could face increasing competition from Crinetics Pharmaceuticals’ (CRNX - Free Report) atumelnant, a once-daily oral ACTH receptor antagonist. The drug is currently being evaluated in a phase III study for classic CAH. The competitive threat is becoming more notable following Vertex Pharmaceuticals' (VRTX - Free Report) agreement to acquire CRNX for $10 billion. Announced last month, the deal would bring atumelnant into Vertex's portfolio, providing the candidate with the resources of a larger pharmaceutical company as it advances through late-stage development. The transaction is expected to close in the third quarter of 2026.

Other companies, including Lundbeck Pharmaceuticals and OMass Therapeutics, are also developing potential CAH therapies, though their programs are at earlier stages of development.

NBIX’s Price Performance, Valuation & EstimatesShares of Neurocrine Biosciences have outperformed the industry year to date, as seen in the chart below.

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The company is currently trading at a premium to the industry. Based on the price-to-sales (P/S) ratio, the stock trades at 3.64 times forward 12-month sales, above the industry average of 2.04 times.

Image Source: Zacks Investment Research

Estimate revisions for Neurocrine Biosciences’ 2026 and 2027 EPS have been mixed over the past 30 days.

Image Source: Zacks Investment Research

Neurocrine currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways Neurocrine's Ingrezza sales rose 17% to $1.4 billion in the first half of 2026.Record new prescriptions and double-digit volume growth drove a higher 2026 Ingrezza sales outlook.Austedo's growth and potential pricing pressure could challenge Ingrezza's momentum over time. Neurocrine Biosciences (NBIX - Free Report) has had an encouraging start so far in 2026, with strong revenue growth, supported by continued momentum in its commercial portfolio. The top-line benefits primarily from Ingrezza, the company's blockbuster VMAT2 inhibitor, which remains Neurocrine’s primary revenue driver and a key pillar of its growth story.

Ingrezza sales rose 17% year over year to $1.4 billion in the first half of 2026, supported by record new prescriptions and double-digit total volume growth. The strong performance prompted management to raise its Ingrezza sales guidance for full-year 2026 to $2.83-$2.88 billion from $2.7-$2.8 billion. The midpoint implies approximately 13% year-over-year growth, indicating that Neurocrine expects the drug's commercial momentum to remain solid through the remainder of the year.

Ingrezza is approved for two indications — tardive dyskinesia (TD) and chorea associated with Huntington's disease (HD). However, TD represents the larger commercial opportunity for Ingrezza. Neurocrine estimates that roughly 800,000 people in the United States are affected by the disease, yet only about half are diagnosed and approximately 10% receive a VMAT2 inhibitor, highlighting the significant room for broader treatment adoption. Continued diagnosis and treatment penetration could therefore support Ingrezza's sales growth even as the drug's existing patient base expands.

In comparison, chorea affects the vast majority of the roughly 40,000 Americans living with HD. Although the addressable population is considerably smaller than that for TD, the indication provides an additional source of demand and strengthens Ingrezza's position across the movement-disorder market.

Pricing Exposure Could Become a Concern for NBIX Over TimeWhile Ingrezza continues to benefit from strong volume growth, pricing remains an important consideration for its future sales trajectory. In 2025, pricing concessions related to broader formulary access partially offset volume gains. Although management expects 2026 net pricing to remain broadly consistent with last year's levels, pricing pressure is expected to rise in the longer term.

A key factor could be the pricing of Teva Pharmaceuticals' (TEVA - Free Report) Austedo and Austedo XR, which compete with Ingrezza across both approved indications. TEVA’s therapies are set to enter the Medicare Drug Price Negotiation Program in 2027, with negotiated prices below pre-negotiation levels. This could make Austedo/Austedo XR more price-competitive among Medicare patients and potentially put additional pressure on Ingrezza's pricing and formulary positioning. Neurocrine has said it remains confident in maintaining broad access for Ingrezza, although greater pricing competition could become a concern over time.

At the same time, Austedo is gaining momentum in the market. Teva reported second-quarter 2026 Austedo sales of $696 million, up 40% year over year, underscoring the drug's growing competitive position. Like NBIX, TEVA also raised its 2026 outlook for Austedo to $2.45-$2.60 billion from $2.40-$2.55 billion.

While Austedo remains the most direct competitive threat, the pipeline is also evolving beyond VMAT2 inhibitors. Acadia Pharmaceuticals (ACAD - Free Report) recently started clinical development on ACP-271, a GPR88 agonist for TD. Though this candidate is still in early-stage development, its different mechanism could represent a longer-term competitive consideration for Ingrezza.

NBIX’s Price Performance, Valuation & EstimatesShares of Neurocrine Biosciences have outperformed the industry year to date, as seen in the chart below.

Image Source: Zacks Investment Research

The company is currently trading at a premium to the industry. Based on the price-to-sales (P/S) ratio, the stock trades at 3.69 times forward 12-month sales, above the industry average of 2.02 times.

Image Source: Zacks Investment Research

Estimate revisions for Neurocrine Biosciences’ 2026 and 2027 EPS have been mixed over the past 30 days.

Image Source: Zacks Investment Research

Neurocrine currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

INGREZZA is the only vesicular monoamine transporter 2 inhibitor with clinical trial data demonstrating improvements in quality of life and functionality in people living with tardive dyskinesia across multiple validated patient-reported outcomes Mean improvements in the patient-reported impacts of tardive dyskinesia and clinician-rated movement severity exceeded established thresholds for clinically meaningful change at Week 24, with improvements observed regardless of underlying psychiatric diagnosis or baseline movement severity Approximately 58% of patients met the threshold for tardive dyskinesia symptomatic remission at Week 24, based on clinician assessment of movement severity Findings reinforce that even patients with mild tardive dyskinesia movements are impacted and can experience meaningful improvements in movement severity, quality of life and functionality with INGREZZA treatment , /PRNewswire/ -- Neurocrine Biosciences, Inc. (Nasdaq: NBIX) today announced publication of the KINECT-PRO™ Phase 4 open-label study results demonstrating that treatment with once-daily INGREZZA® (valbenazine) capsules resulted in substantial and sustained improvements in patient-reported quality of life and functionality, alongside improvements in clinician-rated tardive dyskinesia (TD) movement severity. Improvements were observed regardless of underlying psychiatric diagnosis or baseline TD movement severity, including among participants with clinician-rated mild TD movements. The manuscript appears in CNS Spectrums.

KINECT-PRO is currently the only study to assess the effects of a vesicular monoamine transporter 2 (VMAT2) inhibitor (INGREZZA) on quality of life and functionality using multiple validated patient-reported outcomes (PROs), including the Tardive Dyskinesia Impact Scale (TDIS™). TDIS, developed by Neurocrine Biosciences in partnership with thought leaders in neurology and psychiatry, is a unique, psychometrically validated tool that measures the impact and burden of TD from a patient's perspective. Together with clinician-rated assessments, these findings provide a more comprehensive understanding of how treatment may affect both TD movements and the impact of the disease on patients' daily lives.

"The KINECT-PRO clinical study incorporated validated patient-reported measures, including the Tardive Dyskinesia Impact Scale, to better understand the effects of treating tardive dyskinesia with INGREZZA on patient-reported quality of life and functioning," said Sanjay Keswani, M.D., Chief Medical Officer, Neurocrine Biosciences. "These findings add to the extensive body of evidence supporting the meaningful improvements INGREZZA has on movement severity and quality of life and functionality."

"Quality of life and day-to-day functioning are important considerations when evaluating the impact of tardive dyskinesia and treatment goals," said Christoph U. Correll, M.D., Professor of Psychiatry, The Zucker Hillside Hospital and primary author of the manuscript. "These findings showed improvements with INGREZZA in both clinician-rated movement severity and patient-reported daily impact and reinforced the potential for meaningful benefit across a broad range of patients regardless of baseline movement severity or underlying psychiatric diagnosis."

KINECT-PRO evaluated improvements in outcomes that matter to patients

The primary endpoints of KINECT-PRO were changes from baseline to Week 24 in three validated patient-reported measures of quality of life and functionality, including:

TDIS: Measures the physical, social and emotional impacts of TD. EuroQoL Visual Analogue Scale (EQ-VAS): Measures patients' self-rated overall health status. The Sheehan Disability Scale (SDS): Measures patient-reported functional impairment in work/school, social life and family/home life.  Secondary endpoints evaluated clinician- and patient-reported changes in TD severity using the Abnormal Involuntary Movement Scale (AIMS), the Patient Global Impression of Change (PGI-C) and the Clinical Global Impression of Severity-TD (CGI-TD-S). Fifty-nine patients were enrolled in the KINECT-PRO study and received once-daily INGREZZA (40 mg, 60 mg or 80 mg) for up to 24 weeks. At baseline, approximately 41% of patients (24/59) had clinician-rated mild TD movement severity, while approximately 59% (35/59) had clinician-rated moderate or severe TD movement severity. Approximately 46% of patients (27/59) had schizophrenia or schizoaffective disorder, and approximately 54% (32/59) had major depressive disorder or bipolar disorder. Fifty-two patients completed the Week 24 visit.

Patients experienced improvements in quality of life, functionality and movement severity

KINECT-PRO participants experienced substantial improvements across the three validated patient-reported measures of quality of life (TDIS, SDS and EQ-VAS), as well as improvements in clinician-reported TD severity.

Mean improvements in TD impact (TDIS) and movement severity (AIMS) exceeded established minimal clinically important difference (MCID) thresholds as early as Week 8 and Week 4, respectively, and were sustained to Week 24. Improvements were observed regardless of underlying psychiatric condition or TD movement severity at baseline. Even patients with milder clinician-rated TD movement severity were impacted by TD at baseline and experienced clinically meaningful improvements by Week 24, including a -6.8 mean change from baseline in TDIS and a -5.6 mean change from baseline in AIMS. Approximately 58% of patients (26/45) met the threshold for TD symptomatic remission at Week 24, defined as a movement severity score of 0 ("none") or 1 ("minimal") in each of the seven body regions assessed by AIMS. Safety and tolerability of treatment were consistent with the known profile of INGREZZA, with no new concerns identified.
Mean Change from Baseline at Week 24

TDIS†

(MCID -4)

SDS -

Social Life†

SDS -

Family Life†

EQ-VAS‡

AIMS Total
Score†

(MCID -2)

Overall Population

(n=45)*

-8.0

-2.3

-1.6

+13.1

-6.8

Mild TD Subgroup

(n=20)

-6.8

-1.8

-1.3

+12.8

-5.6

Moderate/Severe
TD Subgroup

(n=25)

-8.9

-2.8

-1.8

+13.3

-7.8

*52/59 (88%) completed the Week 24 visit; 45 were included for efficacy analyses.

†A decrease in score indicated improvement.

‡An increase in score indicated improvement.

About the KINECT-PRO™ Phase 4 Study
The KINECT-PRO™ Phase 4, open-label study was designed to evaluate patient-reported outcomes on the use of INGREZZA® (valbenazine) capsules in a tardive dyskinesia (TD) patient population reflective of real-world clinical practice. Participants had at least mild TD, were aware of and experiencing at least mild distress from their abnormal, involuntary movements and had a clinical diagnosis of schizophrenia, schizoaffective disorder, bipolar disorder or major depression. The KINECT-PRO study included a four-week screening period, a 24-week treatment period during which participants received 40 mg of INGREZZA once-daily for the first four weeks, followed by flexible dosing of 40 mg, 60 mg or 80 mg once-daily based on individual treatment needs and a two-week safety follow-up period. Baseline socio-demographic and clinical characteristics of the participants were broadly similar to those of the KINECT® 3 and KINECT® 4 studies.

KINECT-PRO is the first and only study to specifically evaluate and demonstrate patient-reported improvement with vesicular monoamine transporter 2 inhibitor treatment on TD using multiple clinically validated scales, including the Tardive Dyskinesia Impact Scale (TDIS™). The TDIS is the only patient-reported outcome instrument designed for and psychometrically validated in tardive dyskinesia patients that measures the physical, social and emotional impact of the involuntary movements of the condition.

About the Tardive Dyskinesia Impact Scale
The Tardive Dyskinesia Impact Scale (TDIS™) is the only patient-reported outcome instrument designed for and validated in tardive dyskinesia patients that measures the physical, social and emotional impact of the involuntary movements of the condition. It was developed by Neurocrine Biosciences in partnership with thought leaders in neurology and psychiatry from qualitative studies and Phase 3 trials of INGREZZA for the treatment of TD (KINECT® 3 and KINECT® 4) as a comprehensive measure of impact and burden of TD from a patient's perspective. The TDIS consists of 11 questions evaluating physical and socio-emotional impact. Six scales are assessed: mouth/throat, dexterity, mobility, pain, social and emotional. The TDIS allows people with TD to rate how their symptoms affect daily activities and how their uncontrollable movements make them feel. The questionnaire captures relevant information about the impact of TD to provide a more holistic assessment of the condition. Validation of this scale was published in the Journal of Patient-Reported Outcomes.

About the EQ Visual Analogue Scale and the Sheehan Disability Scale 
The EQ Visual Analogue Scale (EQ-VAS) is the second component of the 5-level EQ 5D (EQ-5D-5L). The EQ-VAS is a visual scale ranging from 0 "the worst health you can imagine" to 100 "the best health you can imagine" that assesses a patient's self-rated health, with higher scores indicating better health status.

The Sheehan Disability Scale (SDS) is a five-item, patient-reported outcome measure which includes social, family and occupational life domains. Three items assess impairment in terms of work/school, social life and family life/home responsibilities and are scored independently (0 [not impaired] to 10 [extremely impaired]) or combined for a total score (0 to 30). Two items assess number of days lost or underproductive. A decrease in score indicates improvement.

About Tardive Dyskinesia
Tardive dyskinesia (TD) is a movement disorder that is characterized by uncontrolled, abnormal and repetitive movements of the face, torso and/or other body parts, which may be disruptive and negatively impact patients. The condition is associated with taking certain kinds of mental health medicines (antipsychotics) that help control dopamine receptors in the brain. Taking antipsychotics commonly prescribed to treat mental illnesses such as major depressive disorder, bipolar disorder, schizophrenia and schizoaffective disorder and other prescription medicines (metoclopramide and prochlorperazine) used to treat gastrointestinal disorders are associated with TD. In patients with TD, these treatments are thought to result in irregular dopamine signaling in a region of the brain that controls movement. The symptoms of TD can be mild to severe and are often persistent and irreversible. TD is estimated to affect at least 800,000 adults in the U.S.

About INGREZZA® (valbenazine) Capsules and INGREZZA® SPRINKLE (valbenazine) Capsules 
INGREZZA is a selective vesicular monoamine transporter 2 (VMAT2) inhibitor approved by the U.S. Food and Drug Administration for the treatment of adults with tardive dyskinesia and the treatment of chorea associated with Huntington's disease (HD). Only INGREZZA offers a therapeutic dose from day one with no required titration.

INGREZZA, developed by Neurocrine Biosciences, selectively inhibits VMAT2 with no appreciable binding affinity for VMAT1, dopaminergic (including D2), serotonergic, adrenergic, histaminergic or muscarinic receptors. While the specific way INGREZZA works to treat TD and HD chorea is not fully understood, INGREZZA is unique in that it selectively and specifically targets VMAT2 to inhibit the release of dopamine, a chemical in the brain that helps control movement. INGREZZA is believed to reduce extra dopamine signaling, which may lead to fewer uncontrollable movements.

INGREZZA is studied across the widest range of patients. It is always one capsule, once daily and can be taken together with most stable mental health regimens such as antipsychotics or antidepressants. Only INGREZZA offers the benefit of a sprinkle formulation, INGREZZA SPRINKLE, for those who experience dysphagia, have difficulty swallowing or prefer not to swallow a pill. INGREZZA and INGREZZA SPRINKLE dosages approved for use are 40 mg, 60 mg and 80 mg capsules.

Important Information

Approved Uses 
INGREZZA® (valbenazine) capsules or INGREZZA® SPRINKLE (valbenazine) capsules are prescription medicines used to treat adults with:

movements in the face, tongue, or other body parts that cannot be controlled (tardive dyskinesia).  involuntary movements (chorea) of Huntington's disease. INGREZZA or INGREZZA SPRINKLE do not cure the cause of involuntary movements, and do not treat other symptoms of Huntington's disease, such as problems with thinking or emotions.  It is not known if INGREZZA or INGREZZA SPRINKLE is safe and effective in children. 

IMPORTANT SAFETY INFORMATION 

INGREZZA or INGREZZA SPRINKLE can cause serious side effects in people with Huntington's disease, including: depression, suicidal thoughts, or suicidal actions. Tell your healthcare provider before you start taking INGREZZA or INGREZZA SPRINKLE if you have Huntington's disease and are depressed (have untreated depression or depression that is not well controlled by medicine) or have suicidal thoughts. Pay close attention to any changes, especially sudden changes, in mood, behaviors, thoughts, or feelings. This is especially important when INGREZZA or INGREZZA SPRINKLE is started and when the dose is changed. Call your healthcare provider right away if you become depressed, have unusual changes in mood or behavior, or have thoughts of hurting yourself. 

Do not take INGREZZA or INGREZZA SPRINKLE if you: 

are allergic to valbenazine, or any of the ingredients in INGREZZA or INGREZZA SPRINKLE.  INGREZZA or INGREZZA SPRINKLE can cause serious side effects, including: 

Allergic reactions. Allergic reactions, including an allergic reaction that causes sudden swelling called angioedema, can happen after taking the first dose or after many doses of INGREZZA or INGREZZA SPRINKLE. Signs and symptoms of allergic reactions and angioedema include: trouble breathing or shortness of breath, swelling of your face, lips, eyelids, tongue, or throat, or other areas of your skin, trouble with swallowing, or rash, including raised, itchy red areas on your skin (hives). Swelling in the throat can be life-threatening and can lead to death. Stop taking INGREZZA or INGREZZA SPRINKLE and go to the nearest emergency room right away if you develop these signs and symptoms of allergic reactions and angioedema.  Sleepiness and tiredness that could cause slow reaction times (somnolence and sedation). Do not drive a car or operate dangerous machinery until you know how INGREZZA or INGREZZA SPRINKLE affects you. Drinking alcohol and taking other medicines may also cause sleepiness during treatment with INGREZZA or INGREZZA SPRINKLE.  Heart rhythm problems (QT prolongation). INGREZZA or INGREZZA SPRINKLE may cause a heart rhythm problem known as QT prolongation. You have a higher chance of getting QT prolongation if you also take certain other medicines during treatment with INGREZZA or INGREZZA SPRINKLE. Tell your healthcare provider right away if you develop any signs or symptoms of QT prolongation, including: fast, slow, or irregular heartbeat (heart palpitations), shortness of breath, dizziness or lightheadedness, or fainting or feeling like you are going to faint.  Neuroleptic Malignant Syndrome (NMS). NMS is a serious condition that can lead to death. Call a healthcare provider right away or go to the nearest emergency room if you develop these symptoms and they do not have another obvious cause: high fever, stiff muscles, problems thinking, irregular pulse or blood pressure, increased sweating, or very fast or uneven heartbeat.  Parkinson-like symptoms. Symptoms include: body stiffness, drooling, trouble moving or walking, trouble keeping your balance, shaking (tremors), or falls.  Before taking INGREZZA or INGREZZA SPRINKLE, tell your healthcare provider about all of your medical conditions including if you: have liver or heart problems, are pregnant or plan to become pregnant, or are breastfeeding or plan to breastfeed.

Tell your healthcare provider about all the medicines you take, including prescription and over-the-counter medicines, vitamins, and herbal supplements. Make sure you tell all of your healthcare providers that you are taking INGREZZA or INGREZZA SPRINKLE. Taking INGREZZA or INGREZZA SPRINKLE with certain other medicines may cause serious side effects. Especially tell your healthcare provider if you: take digoxin or take or have taken a monoamine oxidase inhibitor (MAOI) medicine. You should not take INGREZZA or INGREZZA SPRINKLE if you are taking, or have stopped taking, a MAOI within the last 14 days. 

The most common side effects of INGREZZA or INGREZZA SPRINKLE in people with tardive dyskinesia are sleepiness and tiredness.

The most common side effects of INGREZZA or INGREZZA SPRINKLE in people with chorea associated with Huntington's disease include sleepiness and tiredness, raised itchy red areas on your skin (hives), rash, and trouble getting to sleep or staying asleep. 

These are not all of the possible side effects of INGREZZA or INGREZZA SPRINKLE. Call your doctor for medical advice about side effects. You are encouraged to report negative side effects of prescription drugs to the FDA. Visit MedWatch at www.fda.gov/medwatch or call 1-800-FDA-1088. 

Dosage Forms and Strengths: INGREZZA and INGREZZA SPRINKLE are available in 40 mg, 60 mg, and 80 mg capsules. 

Please see full Prescribing Information, including Boxed Warning, and Medication Guide. 

About Neurocrine Biosciences, Inc. 
Neurocrine Biosciences is a leading biopharmaceutical company with a simple purpose: to relieve suffering for people with great needs. We are dedicated to discovering, developing and commercializing life-changing treatments for patients with under-addressed neurological, psychiatric, endocrine and immunological disorders. The company's diverse portfolio includes FDA-approved treatments for tardive dyskinesia, chorea associated with Huntington's disease, classic congenital adrenal hyperplasia, hyperphagia in Prader-Willi syndrome, endometriosis* and uterine fibroids*, as well as a robust pipeline including multiple compounds in mid- to late-phase clinical development across our core therapeutic areas. For more than three decades, we have applied our unique insight into neuroscience and the interconnections between brain and body systems to treat complex conditions. We relentlessly pursue medicines to ease the burden of debilitating diseases and disorders, because you deserve brave science. For more information, visit neurocrine.com, and follow the company on LinkedIn, X, Facebook and YouTube. (*in collaboration with AbbVie)

The NEUROCRINE BIOSCIENCES Logo, NEUROCRINE, YOU DESERVE BRAVE SCIENCE, KINECT and INGREZZA are registered trademarks of Neurocrine Biosciences, Inc. KINECT-PRO and TDIS are trademarks of Neurocrine Biosciences, Inc.

Forward-Looking Statements
In addition to historical facts, this press release contains forward-looking statements that involve a number of risks and uncertainties. These statements include, but are not limited to, statements regarding the potential benefits to be derived from INGREZZA, the interpretation and potential relevance of the data described in this press release, including statements regarding clinically meaningful improvements in patient-reported quality of life and functional capacity and clinician-rated movement severity among patients with tardive dyskinesia, and the value INGREZZA may bring to patients. Factors that could cause actual results to differ materially from those stated or implied in the forward-looking statements include, but are not limited to, the following: risks and uncertainties as to whether the data described in this press release will be replicated in additional studies or will be predictive of efficacy or other clinical outcomes in subsequent clinical studies or real-world use of INGREZZA; risks and uncertainties associated with Neurocrine Biosciences' business and finances in general, as well as risks and uncertainties associated with the commercialization of INGREZZA; whether INGREZZA receives adequate reimbursement from third-party payors; risks and uncertainties relating to competitive products and technological changes that may limit demand for INGREZZA; risks associated with the Company's dependence on third parties for development and manufacturing activities related to INGREZZA, and the ability of the Company to manage these third parties; risks that additional regulatory submissions for INGREZZA or other product candidates may not occur or be submitted in a timely manner; risks that the FDA or other regulatory authorities may make adverse decisions regarding INGREZZA; risks that post-approval INGREZZA commitments or requirements may be delayed; risks that INGREZZA may be precluded from commercialization by the proprietary or regulatory rights of third parties, or have unintended side effects, adverse reactions or incidents of misuse; and other risks described in the Company's periodic reports filed with the Securities and Exchange Commission, including without limitation the Company's quarterly report on Form 10-Q for the quarter ended June 30, 2026. Neurocrine Biosciences disclaims any obligation to update the statements contained in this press release after the date hereof other than required by law.

© 2026 Neurocrine Biosciences, Inc. All Rights Reserved. CAP-VBZ-US-0106 08/2026 

SOURCE Neurocrine Biosciences, Inc.

Neurocrine Biosciences (NBIX - Free Report) came out with quarterly earnings of $2.85 per share, beating the Zacks Consensus Estimate of $2.26 per share. This compares to earnings of $1.06 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +26.11%. A quarter ago, it was expected that this biopharmaceutical company would post earnings of $1.68 per share when it actually produced earnings of $1.94, delivering a surprise of +15.48%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Neurocrine, which belongs to the Zacks Medical - Drugs industry, posted revenues of $959 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 6.37%. This compares to year-ago revenues of $687.5 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Neurocrine shares have added about 27.5% since the beginning of the year versus the S&P 500's gain of 6.9%.

What's Next for Neurocrine?While Neurocrine has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Neurocrine was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.47 on $1.01 billion in revenues for the coming quarter and $9.09 on $3.77 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Drugs is currently in the top 38% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Theravance Biopharma (TBPH - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026.

This biopharmaceutical company is expected to post quarterly earnings of $0.19 per share in its upcoming report, which represents a year-over-year change of +337.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Theravance Biopharma's revenues are expected to be $19.79 million, down 24.4% from the year-ago quarter.

Wall Street expects a year-over-year increase in earnings on higher revenues when Neurocrine Biosciences (NBIX - Free Report) reports results for the quarter ended June 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 30. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis biopharmaceutical company is expected to post quarterly earnings of $2.24 per share in its upcoming report, which represents a year-over-year change of +111.3%.

Revenues are expected to be $894.32 million, up 30.1% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Neurocrine?For Neurocrine, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +3.77%.

On the other hand, the stock currently carries a Zacks Rank of #1.

So, this combination indicates that Neurocrine will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Neurocrine would post earnings of $1.68 per share when it actually produced earnings of $1.94, delivering a surprise of +15.48%.

Over the last four quarters, the company has beaten consensus EPS estimates three times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Neurocrine appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

An Industry Player's Expected ResultsAnother stock from the Zacks Medical - Drugs industry, Ionis Pharmaceuticals (IONS - Free Report) , is soon expected to post loss of $0.91 per share for the quarter ended June 2026. This estimate indicates a year-over-year change of -205.8%. Revenues for the quarter are expected to be $189.93 million, down 58% from the year-ago quarter.

The consensus EPS estimate for Ionis Pharmaceuticals has been revised 4.1% lower over the last 30 days to the current level. However, a higher Most Accurate Estimate has resulted in an Earnings ESP of +3.30%.

This Earnings ESP, combined with its Zacks Rank #4 (Sell), makes it difficult to conclusively predict that Ionis Pharmaceuticals will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

, /PRNewswire/ -- Neurocrine Biosciences, Inc. (Nasdaq: NBIX) today announced the initiation of its Phase 2 clinical study to assess the safety and tolerability of crinecerfont in children aged 3 months to under 4 years with classic congenital adrenal hyperplasia (CAH). Crinecerfont, marketed as CRENESSITY®, is approved in the United States as an adjunctive treatment to glucocorticoid replacement to control androgens in adult and pediatric patients 4 years of age and older with classic CAH.

"Infants and young children with classic CAH face significant health challenges and are often exposed to high doses of glucocorticoids during critical periods of growth and development," said Sanjay Keswani, M.D., Chief Medical Officer, Neurocrine Biosciences. "The initiation of this Phase 2 study reflects our commitment to evaluating crinecerfont as a potential treatment option that could reduce the need for long-term supraphysiologic glucocorticoid use and help mitigate the associated risks in this vulnerable, very young population."

CAH is typically identified at or shortly after birth and can lead to life-threatening adrenal crises due to the underlying adrenal insufficiency, as well as androgen excess and consistent dosing of supraphysiologic glucocorticoids – complications for which there are no approved therapies in children under 4 years of age. Neurocrine is conducting this pediatric study under an FDA Pediatric Written Request.

The Phase 2 open-label, single-arm study consists of a 24-week treatment period with a primary objective of assessing the safety and tolerability of crinecerfont in 20 participants aged 3 months to under 4 years with classic CAH. Secondary objectives include evaluation of the pharmacokinetics and pharmacodynamic effects of crinecerfont on hormone biomarkers. This study is expected to support a planned supplemental New Drug Application to expand the approved U.S. indication to include patients less than 4 years of age. Additional information about the trial, including eligibility criteria, can be found at ClinicalTrials.gov.

Separately, Neurocrine achieved target enrollment for a Phase 2 study in the European Union to evaluate the safety and tolerability of crinecerfont in children from birth to under 2 years of age with classic CAH. For more information, visit ClinicalTrials.gov.

Crinecerfont was approved by the U.S. Food and Drug Administration in 2024, marking the first therapeutic advancement in more than 70 years for patients with classic CAH. It is a potent and selective oral corticotropin-releasing factor type 1 receptor (CRF1) antagonist that reduces elevated adrenocorticotropic hormone (ACTH) secretion at the source and the resulting downstream excess adrenal androgens through a non-GC mechanism.

About Congenital Adrenal Hyperplasia
Congenital adrenal hyperplasia (CAH) is a rare genetic condition that results in an enzyme deficiency that alters the production of adrenal steroid hormones, such as cortisol, aldosterone and adrenal androgens. Severe enzyme deficiency leads to an inability of the adrenal glands to produce enough cortisol and, in approximately 75% of cases, aldosterone. Because individuals with CAH are typically still able to produce androgens, the unused precursors that would normally be used to make cortisol instead result in the production of excess amounts of androgens. If left untreated, CAH can result in adrenal crisis and even death.

Exogenous glucocorticoids (GCs) are necessary to correct the endogenous cortisol deficiency, but historically, doses higher than those needed for cortisol replacement (supraphysiologic) have been used to lower the elevated levels of adrenocorticotropic hormone (ACTH) and adrenal androgens. However, GC treatment at supraphysiologic doses has been associated with serious and significant complications of steroid excess, including metabolic issues such as weight gain and diabetes, cardiovascular disease and osteoporosis. Additionally, long-term treatment with supraphysiologic GCs may have psychological and cognitive impacts, such as changes in mood and memory. Adrenal androgen excess has been associated with abnormal bone growth and development in pediatric patients, female health problems such as excess facial hair growth and menstrual irregularities, in addition to cardiometabolic and fertility issues in both sexes. The symptoms of high ACTH may include testicular adrenal rest tumors (TARTs).

About CRENESSITY® (crinecerfont)
CRENESSITY is a potent and selective oral corticotropin-releasing factor type 1 receptor (CRF1) antagonist that reduces and controls excess adrenocorticotropic hormone (ACTH) and adrenal androgens through a non-glucocorticoid (GC) mechanism for the treatment of classic congenital adrenal hyperplasia (CAH). Antagonism of CRF1 receptors in the pituitary has been shown to decrease ACTH levels, which in turn decreases the production of adrenal androgens and potentially the symptoms associated with CAH. The robust clinical study data demonstrate that lowering adrenal androgen levels with CRENESSITY enables lower, more physiologic dosing of GCs to replace missing cortisol.

CRENESSITY comes in capsules and an oral solution. For adults 18 years of age and older, the recommended dosage is 100 mg twice daily taken orally with a meal. For pediatric patients 4 to 17 years of age weighing less than 55 kg (121 lbs), the recommended dosage is based on body weight and is administered twice daily, taken orally with a meal. For pediatric patients weighing more than 55 kg (121 lbs), the recommended dosage is 100 mg twice daily taken orally with a meal. Healthcare providers can work with patients to determine the appropriate formulation for use depending on patient needs. Patients receiving CRENESSITY should continue GC therapy for cortisol replacement.

Important Information

Approved Uses
CRENESSITY® (crinecerfont) is a prescription medicine used together with glucocorticoids (steroids) to control androgen (testosterone-like hormone) levels in adults and children 4 years of age and older with classic congenital adrenal hyperplasia (CAH).

IMPORTANT SAFETY INFORMATION

Do not take CRENESSITY if you:

Are allergic to crinecerfont, or any of the ingredients in CRENESSITY.

CRENESSITY may cause serious side effects, including:

Allergic reactions. Symptoms of an allergic reaction include tightness of the throat, trouble breathing or swallowing, swelling of the lips, tongue, or face, and rash. If you have an allergic reaction to CRENESSITY, get emergency medical help right away and stop taking CRENESSITY.

Risk of Sudden Adrenal Insufficiency or Adrenal Crisis with Too Little Glucocorticoid (Steroid) Medicine. Sudden adrenal insufficiency or adrenal crisis can happen in people with congenital adrenal hyperplasia who are not taking enough glucocorticoid (steroid) medicine. You should continue taking your glucocorticoid (steroid) medicine during treatment with CRENESSITY. Certain conditions such as infection, severe injury, or shock may increase your risk for sudden adrenal insufficiency or adrenal crisis. Tell your healthcare provider if you get a severe injury, infection, illness, or have planned surgery during treatment. Your healthcare provider may need to change your dose of glucocorticoid (steroid) medicine.

Before taking CRENESSITY, tell your healthcare provider about all of your medical conditions, including if you: are pregnant or plan to become pregnant, or are breastfeeding or plan to breastfeed.

Tell your healthcare provider about all the medicines you take, including prescription and over-the-counter medicines, vitamins and herbal supplements.

The most common side effects of CRENESSITY in adults include tiredness, headache, dizziness, joint pain, back pain, decreased appetite, and muscle pain.

The most common side effects of CRENESSITY in children include headache, stomach pain, tiredness, nasal congestion, and nosebleeds.

These are not all the possible side effects of CRENESSITY. Call your healthcare provider for medical advice about side effects. You are encouraged to report negative side effects of prescription drugs to the FDA. Visit MedWatch at www.fda.gov/medwatch or call 1-800-FDA-1088.

Dosage Forms and Strengths: CRENESSITY is available in 50 mg and 100 mg capsules, and as an oral solution of 50 mg/mL.

Please see full Prescribing Information.

About Neurocrine Biosciences, Inc. 
Neurocrine Biosciences is a leading biopharmaceutical company with a simple purpose: to relieve suffering for people with great needs. We are dedicated to discovering, developing and commercializing life-changing treatments for patients with under-addressed neurological, psychiatric, endocrine and immunological disorders. The company's diverse portfolio includes FDA-approved treatments for tardive dyskinesia, chorea associated with Huntington's disease, classic congenital adrenal hyperplasia, hyperphagia in patients with Prader-Willi syndrome, endometriosis* and uterine fibroids*, as well as a robust pipeline including multiple compounds in mid- to late-phase clinical development across our core therapeutic areas. For more than three decades, we have applied our unique insight into neuroscience and the interconnections between brain and body systems to treat complex conditions. We relentlessly pursue medicines to ease the burden of debilitating diseases and disorders, because you deserve brave science. For more information, visit neurocrine.com, and follow the company on LinkedIn, X, Facebook and YouTube. (*in collaboration with AbbVie)

NEUROCRINE, the NEUROCRINE BIOSCIENCES Logo, YOU DESERVE BRAVE SCIENCE and CRENESSITY are registered trademarks of Neurocrine Biosciences, Inc.

Forward-Looking Statements
In addition to historical facts, this press release contains forward-looking statements that involve a number of risks and uncertainties. These statements include, but are not limited to, statements regarding our future development plans with respect to crinecerfont; the efficacy and therapeutic potential of crinecerfont in children aged 3 months to under 4 years with classic congenital adrenal hyperplasia (CAH); and the value and benefits CRENESSITY brings to adults and pediatric patients 4 years of age and older with CAH. Factors that could cause actual results to differ materially from those stated or implied in the forward-looking statements include, but are not limited to, the following: risks that clinical development activities may not be initiated or completed on time or at all, or may be delayed for regulatory, manufacturing, or other reasons, may not be successful or replicate previous clinical trial results, may fail to demonstrate that our product candidates are safe and effective, or may not be predictive of real-world results or of results in subsequent clinical trials; risks that regulatory submissions for our product candidates may not occur or be submitted in a timely manner; our future financial and operating performance; risks associated with our dependence on third parties for development, manufacturing, and commercialization activities for our products and product candidates, and our ability to manage these third parties; risks that the FDA or other regulatory authorities may make adverse decisions regarding our products or product candidates; risks that the potential benefits of the agreements with our collaboration partners may never be realized; risks that our products, and/or our product candidates may be precluded from commercialization by the proprietary or regulatory rights of third parties, or have unintended side effects, adverse reactions or incidents of misuse; risks associated with U.S. federal or state legislative or regulatory and/or policy efforts which may result in, among other things, an adverse impact on our revenues or potential revenue; risks associated with potential generic entrants for our products; and other risks described in the Company's periodic reports filed with the Securities and Exchange Commission, including without limitation the Company's quarterly report on Form 10-Q for the quarter ended March 31, 2026. Neurocrine Biosciences disclaims any obligation to update the statements contained in this press release after the date hereof other than required by law.

© 2026 Neurocrine Biosciences, Inc. All Rights Reserved.

SOURCE Neurocrine Biosciences, Inc.