Neurocrine Biosciences Looking At A Year Of Heavy Lifting

 

Investors hoping for a quick return to the glory days at Neurocrine Biosciences (NBIX) are likely to be disappointed. Barring the possibility of a buyout, 2022 is going to be a year of hard work and heavy lifting, as the company invests more resources into growing Ingrezza. While 2023 is shaping up to be a year of some important clinical read-outs, pipeline developments in 2022 are more likely to be Phase II proof-of-concept - not bad, but likely not enough to energize the shares.

I'm still bullish on Neurocrine, and I think the shares are undervalued, but I can very much appreciate that this is not going to be every biotech investor's cup of tea. Ingrezza is clearly not a drug that can sell itself, and Neurocrine has chosen to focus its clinical development on high-potential, high-risk projects across neuro and psychological disorders. While there could be some major winners in the pipeline, the likelihood of early-stage failures is commensurately higher.

 

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Neurocrine Biosciences Looking At A Year Of Heavy Lifting