Key Developments: Neurocrine Biosciences Inc (NBIX.O)
2.37USD
9 Feb 2010
$0.01 (+0.42%)
$2.37
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$2.41
$2.34
68,616
185,627
$4.25
$1.94
Latest Key Developments
Neurocrine Biosciences, Inc. Announces Sale of 4,784,689 Shares of Common Stock, to Raise Proceeds of $10 Million
Neurocrine Biosciences, Inc. announced that it has entered into a privately negotiated transaction to sell an aggregate of 4,784,689 primary shares of its common stock to affiliates of Venrock at a price of $2.09 per share, raising aggregate gross proceeds to Neurocrine of approximately $10 million. Neurocrine expects the financing to close on or about December 22, 2009.
Neurocrine Biosciences, Inc. Secures Committed Equity Financing Facility
Neurocrine Biosciences, Inc. announced that it has entered into a Committed Equity Financing Facility (CEFF) with Kingsbridge Capital Limited. Under the terms of the agreement, Kingsbridge has committed to provide up to $75 million of capital during the next three years, at Neurocrine's discretion, through the purchase of newly-issued shares of Neurocrine common stock. Under the terms of the CEFF, Neurocrine has access, at its discretion, to up to $75 million in capital from Kingsbridge through the sale of newly-issued shares of Neurocrine's common stock. The funds that can be raised under the CEFF over the three-year term will depend on the then-current price for Neurocrine's stock and the number of shares actually sold, which may not exceed an aggregate of approximately 8 million shares. Neurocrine is not obligated to utilize any of the $75 million available under the CEFF and there are no minimum commitments or minimum use penalties.
Neurocrine Biosciences, Inc. Announces Elagolix Successful In Six Month Lilac Petal Study; Safety And Efficacy Confirmed In Patients With Endometriosis
Neurocrine Biosciences, Inc. announced new six month safety and efficacy results from its fourth Phase II clinical trial using its orally-active non-peptide Gonadotropin-Releasing Hormone (GnRH) receptor antagonist, elagolix, in patients with endometriosis. Consistent with previously reported six month (Petal Study) and three month (Lilac Petal Study) results, a favorable safety profile and clinically meaningful efficacy have again been confirmed through month six of the Lilac Petal Study. This newly available data also provides clinical confirmation of Neurocrine's extensive pharmacologic modeling related to the elagolix dose-response continuum. The outcome of primary interest at month six was the impact of the elagolix 250 mg dose on bone mineral density (BMD) as measured by dual energy X-ray absorptiometry (DXA) scanning. Over the six month treatment period, elagolix 150 mg once daily had minimal impact on BMD (-0.80% mean change from baseline, femur; -0.66% mean change from baseline, spine). The 250 mg once daily dose, as expected, had slightly greater percentage change from baseline at month six (-1.0% femur, -1.6% spine). The 150 mg once daily BMD profile in this Lilac Petal Study is consistent with that previously demonstrated in the six-month Petal Study.
Neurocrine Biosciences, Inc. Announces Elagolix Data
Neurocrine Biosciences, Inc. announced the data from Phase I and Phase II elagolix trials and preclinical work. The first clinical abstract presentation at ENDO 09 reviews the results of a Phase I study in which elagolix was evaluated over six weeks (42 days) in 60 healthy premenopausal women. The study was a double blind, placebo controlled study in parallel groups in which 88% of the participants completed the treatment period. The results of this study showed that daily administration of elagolix induced partial suppression of gonadotropins for 12-18 hours per day with a return to baseline each morning for 42 days. The effect on gonadotropins translated in a dose related fashion to maintenance of low estradiol levels over the six week period without inducing severe hot flashes or excessive bone resorption as determined by n-telopeptide. Consistent pharmacokinetic profiles were maintained throughout the 42 days of treatment, and adverse events were comparable among the placebo and elagolix groups. The second clinical abstract at ENDO 09 reports results from a Phase II study where the safety of elagolix was evaluated in 252 women with a confirmed diagnosis of endometriosis. The primary endpoint of the study was to assess the impact of elagolix on bone mineral density using dual energy x-ray absorptiometry (DXA) scanning at months six and twelve. The results showed that elagolix had no long term bone risk during or after treatment.
Neurocrine Biosciences, Inc. Announces Work Force Restructuring
Neurocrine Biosciences, Inc. announced staff reductions of approximately 60 employees, as a part of its restructuring program to focus the Company's efforts on its clinical programs and pre-clinical development leads. Following these reductions, the Company will have approximately 60 employees.
Neurocrine Biosciences, Inc. Reaffirms FY 2008 Net Profit Guidance-Conference Call
Neurocrine Biosciences, Inc. reaffirmed its fiscal 2008 earnings guidance and expects a loss of $75-$80 million. According to Reuters Estimates, analysts were expecting the Company to report net profit of ($78 million) for the same period.
Neurocrine Biosciences, Inc. Reaffirms FY 2008 Earnings Guidance-Conference Call
Neurocrine Biosciences, Inc. reaffirmed fiscal 2008 earnings guidance and expects a loss of $75-$80 million or a $1.95-$2.08 per share.
Neurocrine Biosciences, Inc. Reaffirms FY 2008 Earnings Guidance-Conference Call
Neurocrine Biosciences, Inc. reaffirmed fiscal 2008 earnings guidance and expects a loss of $75-$80 million or a $1.95-$2.08 per share. According to Reuters Estimates, analysts were expecting the Company to report EPS $(2.01) for the same period.
Neurocrine Biosciences, Inc. Issues FY 2008 Earnings Guidance Below Analysts' Estimates
Neurocrine Biosciences, Inc. announced that for fiscal 2008, it expects to have a net loss of approximately $75-$80 million. According to Reuters Estimates, analysts were expecting the Company to report net profit of $(109.24) million for the same period.
Neurocrine Biosciences, Inc. Announces Appointment Of Kevin Gorman As President And Chief Executive Officer
Neurocrine Biosciences, Inc. announced that Kevin Gorman, Neurocrine's Chief Operating Officer has been appointed President and Chief Executive Officer and a member of the Board of Directors of Neurocrine Biosciences. Gary Lyons will step down as President and Chief Executive Officer of Neurocrine and will continue to serve as a member of the Board of Directors.
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