Although Neurocrine Biosciences (NASDAQ:NBIX)
shares have been getting buffeted around as investors worry about the
potential impact of the incoming administration's policies on drug
pricing and the potential for competition to the company's major
programs, management has been doing a respectable job of handling what
they can. In particular, the company continues to focus its efforts on
building awareness and establishing the initial launch plans for its
lead wholly-owned drug valbenazine in tardive dyskenesia.
Clinical
trial results fall outside of the spectrum of what biotech management
teams can control, though, and Neurocrine disappointed the Street
Tuesday night with negative results from its Phase II T-FORWARD study of
valbenazine in adults with Tourette's. Although this particular
indication was not a meaningful contributor to the stock's fair value,
and there may still be a path forward, it's more bad news at a time when
the shares and market sentiment toward biotechs are already weak.
Continue here:
Busy Neurocrine Biosciences Faces A Phase II Setback
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