PGIM, an investment management company, released its “PGIM Jennison Health Sciences Fund” second-quarter 2025 investor letter. A copy of the letter can be downloaded here. Equities in the second quarter of 2025 experienced significant volatility, as the steep sell-off that initiated at the beginning of the quarter ultimately led to a strong recovery. The S&P 1500 Health Care Index declined 6.9% in the second quarter, underperforming the S&P 500’s 10.9% return. Health care providers & services, life science ...

The KINECT-PROâ"¢ analysis is the first and only of its kind to report both remission of tardive dyskinesia symptoms and associated improvements in patient-reported outcomes. Post-hoc analysis from KINECT-PRO demonstrated substantial symptomatic remission rates at Week 24, even earlier than previous studies have reported. ...

SAN DIEGO , Sept. 22, 2025 /PRNewswire/ -- Neurocrine Biosciences, Inc. (Nasdaq: NBIX) today announced the presentation of new data from the Phase 2 SAVITRIâ"¢ study, which showed statistically significant and clinically meaningful improvement in depression severity at Day 28 and Day 56 with once-daily oral administration of 1 mg osavampator (NBI-1065845). ...

Question-and-Answer SessionGuys, first, I thought we'd start with maybe a brief overview of Neurocrine's strategy for developing and commercializing drugs for neuropsychiatric conditions. In particular, maybe which indications is Neurocrine most interested in? And what types of targets will Neurocrine prioritize?Kyle GanoCEO & Director Thanks, Phil. I'll take that question, and thanks for having us here this morning. Always a pleasure to get together. Your question is actually timely, it's timely for a coup ...

Neurocrine Biosciences (NasdaqGS:NBIX) FY Conference September 17, 2025 12:40 PM ET Company ParticipantsKyle Gano - CEOTodd Tushla - VP of Investor RelationsSanjay Keswani - Chief Medical OfficerConference Call ParticipantsPhil Nadeau - Managing Director and Senior Research AnalystPhil NadeauGood afternoon and welcome to TD Cowen's Neuroscience Summit. I'm Phil Nadeau, one of the biotech analysts here at TD Cowen, and it's my pleasure to moderate a fireside chat with Neurocrine Biosciences. We have with us ...

Additional Data from SAVITRIâ"¢ Study Expand on Top-Line Results Announced in April 2024 SAVITRI Poster Presentation Chosen as Finalist for Psych Congress Poster Awards SAN DIEGO , Sept. 16, 2025 /PRNewswire/ --Â Neurocrine Biosciences, Inc. (Nasdaq: NBIX) today announced that it will present new data from the Phase 2 SAVITRI study of osavampator in adults with major depressive disorder at Psych Congress 2025, taking place September 17-21 in San Diego. ...

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) is one of the best drug stocks to buy right now. On September 5, RBC Capital raised the firm’s price target on Neurocrine Biosciences, Inc. (NASDAQ:NBIX) to $149 from $144 while keeping an Outperform rating on the shares. Neurocrine Biosciences, Inc. (NBIX): Among Small-Cap Healthcare Stocks Hedge Funds is Buying The firm told investors in a research note that, according to its latest analysis of prescription trends, Crenessity’s strong launch is expected to con ...

PresentationSean LaamanHead of Healthcare Research & Equity Analyst Good morning, everyone, and welcome to Morgan Stanley's Global Healthcare Conference. I'm Sean Laaman, Head of U.S. mid-cap biotech equity research here at the firm. Before we commence, for important disclosures, go to our research disclosure website at www.morganstanley.com/researchdisclosures. And if you have any questions, please reach out to your Morgan Stanley sales representative. For this session, we have Neurocrine Biosciences, with ...

公司及行业 * 公司为Neurocrine Biosciences (NBIX) 一家专注于中枢神经系统和内分泌疾病的生物制药公司[1][3] * 行业为生物科技与制药行业 涉及药物研发、商业化及竞争格局[3][18][29] 核心观点与论据：商业化产品表现与市场 * Ingrezza（治疗迟发性运动障碍TD）上半年表现强劲 Q2收入达6.24亿美元 环比增长15% 同比增长8% 连续两个季度创下新患者处方NRX记录 Q2总处方TRX也创纪录[11] * 市场潜力巨大 TD患者约80万人 目前仅10%使用VMAT2抑制剂 需求旺盛[11] * 医保覆盖范围从年初的45%扩大至第三季度的70% 改善了药物可及性[11] * 将全年收入指引收窄至25-25.5亿美元 预期全年销量将实现两位数增长[11][12] * 新药crinecerfont（治疗先天性肾上腺增生症CAH）上市 launch进展顺利 得益于提前进行的疾病科普教育 报销率高达75-76% 通过Quick Start项目和患者援助计划支持用药[24][25] * CAH美国患者预估约2万人 成人患者与儿科患者比例约为2:1 目前 launch更偏向儿科患者[28] 核心观点与论据：研发管线与战略 * 研发战略聚焦于经过验证的生物学通路 内部研发生产力目标为每年至少启动4个I期新项目和2个II期新项目 并维持3个III期项目 以实现每两年推出一款新产品的目标[53][54] * 神经精神病学组合是研发重点 拥有两个III期项目osavampator（用于重度抑郁症MDD）和Directedine（M4受体激动剂 用于精神分裂症和双相躁狂症） 并拥有庞大的毒蕈碱受体产品组合[34] * Osavampator（AMPA受体正向变构调节剂）针对MDD III期研究预计2027年公布顶线数据 安全性耐受性良好 但起效较慢[39][43] * NBI-770（NMDA NR2B负向变构调节剂）针对MDD II期顶线数据预计今年第四季度公布 旨在实现快速起效并避免ketamine的副作用[41][42][43] * 毒蕈碱受体项目包括M4偏好、M1偏好及M1/M4双重激动剂等多种分子 以探索不同适应症（如认知障碍、精神分裂症、双相躁狂）[35][36] * NBI-986（M4受体拮抗剂）是内部研发分子 计划明年启动II期研究 用于治疗帕金森震颤或肌张力障碍 旨在成为副作用更少的改良版Artane[44][45] * NBI-1435（CRF1拮抗剂的长效注射剂）是crinecerfont的下一代产品 已启动I期研究 旨在实现更佳疗效和用药依从性[31][32] 核心观点与论据：竞争格局与外部环境 * 公司肯定中国生物科技的创新和科学实力 尤其在规模化工程方面 并保持关注与学习 但认为其在中枢神经系统疾病领域的竞争尚未构成直接威胁[3][4] * 主要竞争产品为Teva的Austedo 但TD市场增长强劲 Ingrezza患者一旦用药 依从性和持久性很高[18][19] * 人工智能AI的应用主要通过合作伙伴关系进行 用于药物发现（识别新化学骨架）和提高内部运营效率（如利用AI工具辅助撰写研究报告）[5][6][7] * 通胀削减法案IRA的影响是明确的政策 Ingrezza符合小生物科技豁免资格 预计将在2027年进行价格谈判 最终在2029年实施的价格预计将在2021年非联邦平均生产价格non-FAMP基础上给予25%-34%的折扣[15][16][17] * 2027年后竞争格局可能变化 公司将专注于新患者选择 并通过商保计划、例外申请流程等保持Ingrezza的市场地位[19][20] 其他重要内容 * 公司财务状况良好 Q2企业总收入（含crinecerfont）为6.82亿美元 同比增长17% 目前策略是投资于增长而非最大化利润 目标将约35%的净销售额投入研发[50][51][52] * 知识产权IP保护方面 Ingrezza的专利保护期至2038年[21] * 计划于12月16日在圣地亚哥举办研发日活动 重点介绍神经精神病学产品组合和早期研发管线[33][34][35]

财务表现 - INGREZZA预计今年销售额达25亿美元 [3] 产品管线 - CRENESSIA成为70多年来首款先天性肾上腺增生症新药 上市初期表现强劲 [3] - 启动两项重大三期临床项目：Osavampator治疗重度抑郁症（含三项三期研究及开放标签扩展研究）[4] - 毒蕈碱受体项目正在进行精神分裂症试验并计划扩展研究 [4]