Wednesday, June 10, 2015

Seeking Alpha: A Small Stumble For Neurocrine Biosciences Changes Little

The only biotechs that never report bad news are those lucky enough to be acquired early in their corporate lives or those run by inveterate liars that always manage to see "positive signals" in clinical data trainwrecks. Neurocrine Biosciences (NASDAQ:NBIX) has certainly had a few challenges in its past, but the news late Monday of a halt to the congenital adrenal hyperplasia program is really not the sort of news that should upset investors.

I do expect that some will regard this as an excuse to sell what has been a pretty strong stock (sometimes even professional investors need permission to dismount a winning horse). I also do acknowledge that Neurocrine needs to show a better track record of generating viable clinical candidates from its base R&D activities. All of that said, at most this looks like a $2 event to me and not a very good reason to exit a position ahead of far more significant data on its two lead programs later this year.

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A Small Stumble For Neurocrine Biosciences Changes Little

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