What Investors Expect From Neurocrine Biosciences' Next Drug Announcement
Neurocrine Biosciences, Inc. (NASDAQ: NBIX) focuses on developing therapies for neurological and endocrine diseases with high unmet medical needs.
Last January, Neurocrine stock jumped up near 75 percent on the announcement that its drug, NBI-98854, produced positive clinical trial results in patients with tardive dyskinesia.
This January, Neurocrine is set for another binary event -- the release of Phase 3 data for a different drug in its pipeline labeled Elagolix for Endometriosis. Elagolix is the company’s drug furthest along in development and is partnered with AbbVie Inc (NYSE: ABBV).
According to Neurocrine Chief Medical Officer Chris O’Brien, AbbVie was in the process of cleaning the data in December, and the results should be announced in the first half of January.
Thus, many analysts are expecting data to be released during the week of January 5 or January 12.
This trial, called the Violet Petal Study, is the first of two Phase 3 trials. The second trial has a global focus; its results are expected in the second half of 2015.
More broadly, 2015 should be a binary year for Neurocrine, as the company is announcing several other data points later this year.
Neurocrine CEO Kevin Gorman recently stated: "We look forward to multiple clinical trial readouts in 2015 including Phase III topline efficacy data for elagolix in endometriosis and Phase IIb efficacy data for elagolix in uterine fibroids reported by our partner AbbVie, as well as Kinect 3 Phase III topline efficacy data and Phase Ib data in Tourette from our VMAT2 inhibitor."
Neurocrine stock was up about 45 percent in the fourth quarter and 140 percent in 2014.
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