As I've said before, quarterly earnings reports from pre-revenue
biotechs are of only limited value, though they can provide some
worthwhile insights and detail. Neurocrine (NBIX)
is technically no longer pre-revenue, though, and the company's first
commercial sales of Ingrezza suggest a good start to this important new
drug. What's more, Neurocrine management laid out a credible path for
ongoing development of Ingrezza for pediatric Tourette's after a disappointing Phase II result
earlier this year, not to mention updates on other early-stage clinical
programs. While I suppose I'm a little more comfortable with the
Ingrezza launch now, I'm not changing any of my basic modeling
assumptions, and my fair value remains in the mid-$60s.
Follow this link for more:
Neurocrine Biosciences Off To A Good Start With Ingrezza
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