NEUROCRINE BIOSCIENCES INC

Listed Company

NBIXCIK 0000914475NasdaqLarge AcceleratedBiological Products, (No Diagnostic Substances)DelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.86B

Net Income

$478.60M

Total Assets

$4.63B

Equity

$3.25B

Shares Out

100.36M

Op. Cash Flow

$782.70M

Business

NEUROCRINE BIOSCIENCES INC is a neuroscience-focused biopharmaceutical company that discovers, develops and commercializes therapies for neuropsychiatric, neurological and neuroendocrine disorders. It offers FDA-approved VMAT2 inhibitors for tardive dyskinesia and chorea, a CRF1 receptor antagonist for congenital adrenal hyperplasia, licensed elagolix therapies for gynecologic conditions, and a diversified pipeline spanning small molecules, peptides, proteins, antibodies and gene therapies. Key operations include commercial sales, clinical development, outsourced manufacturing oversight, patent management and strategic collaborations. Products are marketed primarily in the U.S., with partner-led launches and royalty arrangements in Japan, select Asian and other international markets, using specialty pharmacies, distributors and dedicated specialty sales teams.

Summary from filing dated 2025-02-10

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	2,861	2,355	1,887	1,489	1,134
Cost of revenues	52	34	40	23	14
Research and development	1,016	731	565	464	328
Acquired in-process research and development	17	13	144	0	105
Selling, general, and administrative	1,156	1,007	888	753	583
Total operating expenses	2,241	1,785	1,636	1,240	1,031
Operating income	619	571	251	249	103
Unrealized (loss) gain on equity investments	−4	−37	28	31	21
Charges associated with convertible senior notes	0	−138	0	−70	—
Investment income and other, net	90	91	53	4	4
Total other income (expense), net	86	−85	81	−35	−1
Income before provision for income taxes	705	486	332	214	101
Provision for income taxes	227	145	82	59	12
Net income	479	341	250	155	90
Foreign currency translation adjustments, net of tax	4	−1	2	3	0
Unrealized gain (loss) on available-for-sale debt securities, net of tax	4	−100,000	13	−9	−4
Comprehensive income	486	340	265	148	86
Earnings per share, basic (in USD per share)	4.81	3.4	2.56	1.61	0.95
Earnings per share, diluted (in USD per share)	4.67	3.29	2.47	1.56	0.92
Weighted average common shares outstanding, basic (in shares)	100	100	98	96	95
Weighted average common shares outstanding, diluted (in shares)	103	104	101	99	98

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	713	233	251	263	341
Available-for-sale debt securities	767	843	781	726	371
Accounts receivable	687	479	439	350	186
Inventory	69	57	38	35	31
Prepaid expenses	171	49	—	—	—
Other current assets	116	64	98	79	46
Total current assets	2,523	1,725	1,607	1,454	973
Deferred tax assets	320	486	363	306	315
Available-for-sale debt securities	1,063	740	688	299	—
Right-of-use assets	455	509	277	87	97
Equity investments	121	125	162	102	—
Property and equipment, net	90	83	71	59	59
Other noncurrent assets	60	52	50	25	4
Total assets	4,632	3,719	3,251	2,369	2,073
Accounts payable and accrued liabilities	674	462	449	348	226
Other current liabilities	69	46	36	21	20
Total current liabilities	743	508	655	538	246
Noncurrent operating lease liabilities	415	455	258	94	105
Other noncurrent liabilities	220	166	106	30	12
Total liabilities	1,378	1,129	1,019	661	699
Preferred stock, $0.001 par value; 5.0 shares authorized; no shares issued and outstanding	0	0	0	0	0
Common stock, $0.001 par value; 220.0 shares authorized; 100.1 and 99.4 shares issued and outstanding, respectively	100,000	100,000	100,000	100,000	100,000
Additional paid-in capital	2,792	2,555	2,382	2,122	2,011
Accumulated other comprehensive income	13	6	7	−8	−2
Retained earnings	448	29	−157	−407	−636
Total stockholders equity	3,253	2,590	2,232	1,708	1,374
Total liabilities and stockholders equity	4,632	3,719	3,251	2,369	2,073

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation	218	196	194	173	134
Impairment charges associated with leased properties	700,000	14	0	—	—
Depreciation	26	24	18	15	11
Accretion of discount on available-for-sale debt securities, net	−13	−26	−18	4	7
Amortization of acquired intangible assets	4	4	4	500,000	0
Deferred tax assets	165	−123	−57	19	4
Non-cash lease expense	27	10	−900,000	—	—
Other	700,000	100,000	700,000	2	−3
Accounts receivable	−211	−40	−89	−162	−28
Inventory	−15	−19	5	−3	−3
Accounts payable and accrued liabilities	160	43	49	115	57
Income tax assets and liabilities	−19	50	92	—	—
Other assets and liabilities, net	−44	−54	−29	−17	−9
Cash flows from operating activities	783	595	390	339	257
Purchases of available-for-sale debt securities	−1,320	−1,056	−1,380	−621	−800
Sales and maturities of available-for-sale debt securities	1,089	968	972	511	698
Purchases of equity investments	0	0	−31	−8	−5
Capital expenditures	−34	−38	−28	−17	−23
Cash flows from investing activities	−264	−127	−467	−177	−130
Issuances of common stock under benefit plans	129	122	65	45	28
Repurchases of common stock	−168	−300	0	0	—
Payments to settle convertible senior notes	0	−309	0	−279	−100,000
Cash flows from financing activities	−38	−487	65	−234	27
Effect of exchange rate changes on cash and cash equivalents	0	0	300,000	−1	0
Change in cash and cash equivalents and restricted cash	480	−18	−12	−73	154
Accrued capital expenditures	2	2	3	700,000	2
Right-of-use assets acquired through operating leases	0	272	201	0	23
Cash paid for interest	0	2	4	7	9
Cash paid for income taxes	81	218	52	14	5

Filings

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