Neurocrine Biosciences Files Q3 2024 10-Q Report

Ticker: NBIX · Form: 10-Q · Filed: 2024-10-30T00:00:00.000Z

Sentiment: neutral

Topics: 10-Q, quarterly-report, biotech

Related Tickers: NBIX

TL;DR

NBIX filed its Q3 10-Q. All systems go.

AI Summary

Neurocrine Biosciences, Inc. (NBIX) filed its quarterly report for the period ended September 30, 2024. The company is incorporated in Delaware and headquartered in San Diego, California. Its common stock is traded on the Nasdaq Global Select Market under the symbol NBIX.

Why It Matters

This filing provides investors with an update on Neurocrine Biosciences' financial performance and operational status for the third quarter of 2024, crucial for assessing the company's trajectory.

Risk Assessment

Risk Level: low — This is a standard quarterly filing and does not contain immediate red flags or significant new risks.

Key Players & Entities

FAQ

What is the company's primary business focus?

The filing does not explicitly state the company's primary business focus, but the name 'Neurocrine Biosciences' suggests a focus on neuroscience and biotechnology.

Has Neurocrine Biosciences filed all required reports for the preceding 12 months?

Yes, the filing indicates that the registrant has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months.

Is Neurocrine Biosciences considered a large accelerated filer?

The filing does not specify whether Neurocrine Biosciences is a large accelerated filer, accelerated filer, non-accelerated filer, smaller reporting company, or emerging growth company.

What is the par value of Neurocrine Biosciences' common stock?

The par value of Neurocrine Biosciences' common stock is $0.001 per share.

What is the Commission File Number for Neurocrine Biosciences?

The Commission File Number for Neurocrine Biosciences is 0-22705.

Filing Stats: 4,653 words · 19 min read · ~16 pages · Grade level 9.1 · Accepted 2024-10-30 07:04:11

Key Financial Figures

Filing Documents

Financial Information

Part I. Financial Information 3

Financial Statements

Item 1. Financial Statements 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Income and Comprehensive Income 4 Condensed Consolidated Statements of Stockholders' Equity 5 Condensed Consolidated Statements of Cash Flows 6 Notes to the Condensed Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 17

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 24

Controls and Procedures

Item 4. Controls and Procedures 24

Other Information

Part II. Other Information 26

Legal Proceedings

Item 1. Legal Proceedings 26

Risk Factors

Item 1A. Risk Factors 26

Exhibits

Item 6. Exhibits 52

Signatures

Signatures 53 2

Financial Information

Part I. Financial Information

Financial Statements

Item 1. Financial Statements NEUROCRINE BIOSCIENCES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (in millions, except per share data) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 349.1 $ 251.1 Available-for-sale debt securities 878.9 780.5 Accounts receivable 481.1 439.3 Inventory 45.8 38.3 Other current assets 121.7 97.8 Total current assets 1,876.6 1,607.0 Deferred tax assets 454.4 362.6 Available-for-sale debt securities 643.9 687.5 Right-of-use assets 257.3 276.5 Equity investments 126.7 161.9 Property and equipment, net 80.0 70.8 Intangible assets, net 34.5 35.5 Other noncurrent assets 61.6 49.6 Total assets $ 3,535.0 $ 3,251.4 Liabilities and Stockholders' Equity Current liabilities: Accounts payable and accrued liabilities $ 392.7 $ 448.8 Convertible senior notes — 170.1 Other current liabilities 37.0 35.9 Total current liabilities 429.7 654.8 Noncurrent operating lease liabilities 251.4 258.3 Other noncurrent liabilities 135.0 106.3 Total liabilities 816.1 1,019.4 Stockholders' equity: Preferred stock, $ 0.001 par value; 5.0 shares authorized; no shares issued and outstanding — — Common stock, $ 0.001 par value; 220.0 shares authorized; 101.2 and 98.7 shares issued and outstanding, respectively 0.1 0.1 Additional paid-in capital 2,623.2 2,382.0 Accumulated other comprehensive income 14.5 7.0 Retained earnings (accumulated deficit) 81.1 ( 157.1 ) Total stockholders' equity 2,718.9 2,232.0 Total liabilities and stockholders' equity $ 3,535.0 $ 3,251.4 See accompanying notes to the condensed consolidated financial statements. 3 NEUROCRINE BIOSCIENCES, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (unaudited) Three Months Ended September 30, Nine Months Ended September 30, (in millions, except per share data) 2024 2023 2024 2023 Revenues: Net product sales $ 616.6 $ 491.8 $ 1,709.4 $ 1,353.4 Collaboration revenues 5.5 7.

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