NASDAQ$NBIX
Neurocrine Biosciences Inc · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Neurocrine Biosciences reported Q4 2020 financial results with total annual revenues growing 33% to over $1 billion and INGREZZA net product sales reaching $993 million.
Neurocrine Biosciences announced its Q4 and full-year 2020 financial results, highlighting a non-cash tax benefit of $296 million. INGREZZA net product sales for the fourth quarter were $240 million. The company is planning to initiate eight mid-to-late stage clinical studies in 2021.
- Total revenues for the fourth quarter were $247.9 million, compared to $244.1 million for the same period in 2019.
- GAAP net income for the fourth quarter was $347.9 million, or $3.58 per share, compared to $34.0 million, or $0.35 per share, for the fourth quarter of 2019.
- Non-GAAP net income for the fourth quarter was $88.1 million, or $0.91 per share, compared to $102.2 million, or $1.05 per share, for the fourth quarter of 2019.
- INGREZZA net product sales for Q4 2020 were $240 million, a 1% increase compared to Q4 2019.
Headline financials
Revenue & EPS history
Neurocrine Biosciences · Revenue · Quarterly
$248M
Revenue by segment
Neurocrine Biosciences · $240M total across 1 segment · Q4 2020
- INGREZZA Net Product Sales$240M+0.8%100.0%
Forward guidance
Neurocrine Biosciences provided full-year 2021 financial expense guidance, anticipating increased investment in R&D and marketing costs. The company expects combined GAAP R&D and SG&A expenses to be between $800 million and $850 million.
Tailwinds
- Increased investment in R&D expense, including collaboration programs.
- Planned initiation of eight mid-to-late-stage clinical studies.
- Increased investment in INGREZZA and ONGENTYS marketing costs.
- No federal cash tax is expected in 2021 based upon a net operating loss position of approximately $500 million entering 2021.
- Marketing Authorization with Ministry of Health and Welfare in Japan for Tardive Dyskinesia.
Headwinds
- GAAP-only guidance includes approximately $125 million of share-based compensation.
- GAAP-only guidance does not include any potential milestones or in-process research and development costs associated with current collaborations or future business development activities.
- Potential impact of COVID-19 on business operations.
- Dependence on third parties for development and manufacturing activities.
- Risks that clinical development activities may not be initiated or completed on time or at all.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2020
-0.3%
Avg return
Earnings day
+1.1%
Avg return
5 days after
+1.6%
Avg return
30 days after
45%
29 / 65 earnings
Positive
+17.2%
Q3 2017
Best reaction
-18.5%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.8% | +11.5% | +21.3% | |
| Q4 2025 | -10.4% | -7.0% | -5.6% | |
| Q3 2025 | -6.3% | -3.7% | +3.2% | |
| Q1 2025 | +8.3% | +5.4% | +13.5% | |
| Q4 2024 | -18.5% | -22.1% | -24.9% | |
| Q3 2024 | +3.5% | +3.7% | +9.1% | |
| Q2 2024 | +8.2% | +2.9% | -10.2% | |
| Q1 2024 | +1.7% | +3.0% | -1.5% | |
| Q4 2023 | -6.0% | -8.8% | -2.6% | |
| Q3 2023 | +4.1% | +5.0% | +8.8% | |
| Q2 2023 | +2.2% | -0.3% | +6.9% | |
| Q1 2023 | -7.4% | -5.4% | -10.8% | |
| Q4 2022 | -5.6% | -6.2% | -11.1% | |
| Q3 2022 | +6.0% | +5.8% | +9.7% | |
| Q2 2022 | +10.6% | +14.5% | +9.5% | |
| Q1 2022 | -3.9% | -14.6% | +7.7% | |
| Q4 2021 | +8.7% | +7.9% | +12.2% | |
| Q3 2021 | -9.3% | -11.6% | -23.4% | |
| Q2 2021 | -2.8% | -6.6% | +0.4% | |
| Q1 2021 | -2.3% | -0.3% | +3.2% | |
| Q4 2020 | +3.1% | +2.6% | -17.3% | |
| Q3 2020 | -9.1% | -4.5% | -4.5% | |
| Q2 2020 | -0.2% | -4.4% | -3.7% | |
| Q1 2020 | +7.0% | +11.6% | +13.8% | |
| Q4 2019 | +2.0% | +3.5% | -5.4% | |
| Q3 2019 | -1.2% | +6.9% | +14.4% | |
| Q2 2019 | +9.7% | +7.5% | +11.3% | |
| Q1 2019 | -6.7% | +2.0% | +1.4% | |
| Q4 2018 | -4.6% | -4.6% | -12.9% | |
| Q3 2018 | -8.0% | -9.0% | -25.5% | |
| Q2 2018 | +14.7% | +17.2% | +23.3% | |
| Q1 2018 | +3.3% | +1.5% | +17.1% | |
| Q4 2017 | +3.9% | +3.7% | +11.6% | |
| Q3 2017 | +17.2% | +20.0% | +18.5% | |
| Q2 2017 | +10.2% | +10.5% | +17.4% | |
| Q1 2017 | +3.4% | +3.8% | -15.3% | |
| Q4 2016 | +0.7% | +4.5% | +7.2% | |
| Q3 2016 | -10.0% | -1.1% | -3.1% | |
| Q2 2016 | -0.7% | -3.6% | -2.0% | |
| Q1 2016 | -0.1% | — | — | |
| Q4 2015 | +6.9% | — | — | |
| Q3 2015 | -4.5% | — | — | |
| Q2 2015 | -3.7% | — | — | |
| Q1 2015 | -4.4% | — | — | |
| Q4 2014 | +5.7% | — | — | |
| Q3 2014 | -4.9% | — | — | |
| Q2 2014 | -2.3% | — | — | |
| Q1 2014 | -3.5% | — | — | |
| Q4 2013 | +1.3% | — | — | |
| Q3 2013 | -6.3% | — | — | |
| Q2 2013 | +0.5% | — | — | |
| Q1 2013 | +2.3% | — | — | |
| Q4 2012 | +6.5% | — | — | |
| Q3 2012 | -1.7% | — | — | |
| Q2 2012 | -9.6% | — | — | |
| Q1 2011 | -3.2% | — | — | |
| Q1 2012 | -3.2% | — | — | |
| Q4 2011 | -8.0% | — | — | |
| Q4 2009 | -8.0% | — | — | |
| Q3 2010 | +13.7% | — | — | |
| Q3 2011 | +13.7% | — | — | |
| Q4 2010 | -6.5% | — | — | |
| Q2 2010 | -6.5% | — | — | |
| Q2 2011 | -6.5% | — | — | |
| Q1 2010 | -1.5% | — | — |
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