By Kelly Cloonan
Shares of Neurocrine Biosciences fell after the company's first-quarter revenue beat Wall Street's expectations amid rising sales of its Ingrezza treatment.
The stock rose 12% to $122.92 on Tuesday. Shares have declined 13% over the past 12 months.
The San Diego biopharmaceutical company on Monday evening posted a profit of $7.9 million, or 8 cents a share, compared with $43.4 million, or 42 cents a share, a year earlier.
Adjusted earnings per share were 70 cents, below estimates of $1.18 a share according to analysts polled by FactSet.
Revenue rose to $572.6 million compared with $515.3 million a year earlier. Analysts expected $559.6 million.
Sales of Ingrezza, the company's treatment for tardive dyskinesia and chorea associated with Huntington's disease, rose 8% from the prior year to $545.2 million.
"We delivered a record number of new patient starts for Ingrezza, which is especially impressive given the typically challenging first quarter," Chief Executive Kyle Gano said.
For the full year, the company reaffirmed its previous outlook, guiding for Ingrezza sales of $2.5 billion to $2.6 billion.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
May 06, 2025 11:00 ET (15:00 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。