Neurocrine Q2 beats with INGREZZA $440M (+26% YoY); raises 2023 sales forecast to $1.77-1.82B

NEUROCRINE BIOSCIENCES INC

2023-Q2 EPS reported $0.19 revenue$873,100,000

Q2 total revenue $452.7M vs $378.2M YoY; GAAP EPS $0.95 vs loss of $0.18, non-GAAP EPS $1.25 vs $0.84.
INGREZZA net product sales $440M (26% YoY); record new patient starts in Q2.
2023 INGREZZA guidance raised to $1.77-1.82B from prior range; reaffirms R&D and SG&A expense guidance.
Cash, cash equivalents and marketable securities $1.32B at June 30, 2023; up from $1.29B at year-end 2022.
PDUFA date for valbenazine in Huntington's chorea set for Aug 20, 2023; four Phase 2/3 readouts expected in Q4.

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