Biotech stocks will drive an investor crazy, as there's a
seemingly never-ending supply of worries and negative developments to
offset the occasional major steps forward. Such is the case (again) with
Neurocrine Biosciences (NASDAQ:NBIX).
Fresh off some momentum from the FDA approval of Ingrezza in tardive
dyskinesia and a surprisingly robust pricing decision, as well as
encouraging Phase IIb data from AbbVie (NYSE:ABBV)
on the company's drug Elagolix in uterine fibroids, Neurocrine
announced disappointing results from its Phase II T-Force GREEN study of
Ingrezza in pediatric Tourette's.
Neurocrine shares
are, not surprisingly, down on the news, though the decline seems to be
a little excessive relative to the likely real-world contribution of
the drug to the company's profits. What's more, Neurocrine is not giving
up on this drug/indication, and a better-designed Phase II study could
restore much of the optimism that has packed its bags today. With the
shares still below my fair value and two valuable commercial/late-stage
compounds (and a third that is more of a wild card), I believe these
shares are worth considering on this disappointment sell-off.
Click here for more:
Neurocrine Stumbles With Ingrezza In Pediatric Tourette's
No comments:
Post a Comment