Macro Tsimmis

intelligently hedged investment

Neurocrine Biosciences (NBIX) update #6

Posted by intelledgement on Wed, 30 Apr 08

Neurocrine Biosciences (NBIX) may have spectacularly failed to get the FDA to approve their sleep remedy indiplon, but for those of us who own their stock anyway, following the progress of the company may be just as effective at lulling us into a doze. The company reported their 1Q08 results today, and the report was thin on real news. With no products in the market, they continue to generate red ink at the rate of $80MM/year or so. There is still no news on the the GnRH partnering front (“We will not speculate on a timeline for the completion of this deal,” says CEO Kevin Gorman, which is an improvement over the promises of his predecessor to wrap up a deal by the end of 2007). Three phase 2 trials continue apace. The long lamented post mortem meeting with the FDA to discuss indiplon has now been postponed until July. We are deeply under water here, but still hopeful that a GnRH partner announcement will cut our losses sometime this decade.

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One Response to “Neurocrine Biosciences (NBIX) update #6”

  1. Just noticed there is a transcript of the 1Q08 conference call posted on Seeking Alpha:

    http://seekingalpha.com/article/76775-neurocrine-biosciences-inc-q1-2008-earnings-call-transcript

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