Neurocrine Biosciences (NBIX) investor relations material

Strategic themes and business momentum

• Emphasized strong momentum and strategic, balanced diversification as key themes for 2026, with a focus on expanding both commercial and R&D operations.

• Workforce has grown to 2,000, supporting a proven track record in discovering, developing, and commercializing first-in-class medicines.

• INGREZZA and CRENESSITY are both commercialized in the U.S., with CRENESSITY positioned as the next blockbuster in rare endocrine disease.

• Sales force expansion underway to support both brands and drive further growth.

• Revenue diversification is now achieved, with CRENESSITY contributing alongside INGREZZA for the first time since 2017.

R&D engine and pipeline strategy

• R&D engine is fully operational, targeting four new phase I, two new phase II, and at least three phase III programs annually, aiming for one new medicine every two years by decade's end.

• Pipeline diversification includes small molecules, peptides, antibodies, and gene therapies, with a philosophy of matching modality to disease target.

• Internal innovation is prioritized, complemented by strategic business development.

• 12 programs are in clinical development: 8 in phase I, 2 in phase II, and 2 in phase III, with six new phase I studies planned for the year.

• New study initiations include gene therapy for Friedreich's ataxia, two obesity programs, HPA axis dysregulation, CRF antagonists, and immunology programs.

Neuropsychiatry and endocrinology portfolio highlights

• Neuropsychiatry pipeline includes first-in-class AMPA-PAM for major depressive disorder and Derecladine for schizophrenia and bipolar mania, both in phase III.

• Muscarinic portfolio spans agonists and antagonists across multiple disease states and stages, increasing probability of success.

• Next-generation VMAT2 inhibitors (NBI-890, NBI-675) aim to extend leadership in VMAT2 biology.

• Endocrinology pipeline leverages 30 years of CRF biology, with a two-pronged strategy: CRF1 for HPA axis diseases and CRF2 for metabolic disorders, including obesity.

• Proprietary incretin and combination approaches are being developed for differentiated obesity treatments.