Neurocrine Biosciences (NBIX) Canaccord Genuity 44th Annual Growth Conference & Private Company Showcase 2024 summary

Leadership transition and strategic focus

• CEO-elect Kyle Gano will assume the CEO role in October, following a 25-year tenure in various roles and a focus on business development strategy.

• Near-term priorities include supporting the outgoing CEO, conducting a listening tour with employees, and executing the established strategy to position the company as a leading neuroscience firm.

• Long-term focus centers on maintaining company culture and advancing both R&D and commercial pipelines.

Commercial performance and product growth

• INGREZZA achieved $580 million in Q2 revenue, reflecting 32% year-over-year and 15% quarter-over-quarter growth, driven by strong demand and improved gross net.

• Growth strategy for INGREZZA emphasizes new patient starts in tardive dyskinesia, with ongoing investment in education and sales force expansion.

• Recent sales force increases targeted psychiatry and long-term care, with further expansion contingent on market dynamics and observed returns.

• INGREZZA maintains patent protection until 2038, with significant market opportunity remaining.

Pipeline development and upcoming milestones

• Crinecerfont is under FDA review with PDUFA dates at the end of December; potential launch is anticipated in early 2025.

• Multiple phase II and III readouts are expected in the coming months, including for selective M4 agonist (NBI-1117568) and luvadaxistat for schizophrenia-related indications.

• NBI-845, with strong phase II results in major depressive disorder, is advancing to phase III, and another MDD program (NBI-1070770) will read out in phase II next year.

• Two gene therapy programs are set to begin clinical development next year.