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.
Busy Neurocrine Biosciences Faces A Phase II Setback