Macro Tsimmis

intelligently hedged investment

Neurocrine Biosciences (NBIX) update #8

Posted by intelledgement on Thu, 31 Jul 08

Another quarter, another non-eventful $20MM loss (well, actually $21MM)…still no word on a GnRH Antagonist partnership—it wasn’t even mentioned in the conference call—and while the long-delayed post mortem meeting with the FDA staff on indiplon finally did happen in July, it amounted (as expected) to an anticlimax. Here is what CMO Chris O’Brien had to say on that subject: “We did get our chance to sit down with the neurology division in July earlier this month, and the meetings were cordial…. We are waiting for the official meeting minutes…. Typically, the agency provides their official minutes 30 to 60 days after this end of review meeting. So obviously we’ll give an update once that’s available.” In other words, “no news is no news”—the indiplon program is brain dead; the body is being maintained on life support.

For more details, refer to yesterday’s 2Q08 result press release.

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