Key Highlights

  • NBIX reported third quarter 2026 total Revenue of $1,122.7 million, up 41.2% from $794.9 million.
  • INGREZZA net product sales were $801.5 million, and full-year INGREZZA guidance rose to $2.9 billion to $2.925 billion.
  • CRENESSITY sales reached $210.8 million, compared with $98.1 million a year earlier.
  • VYKAT XR contributed $106.7 million of net product sales in its first full quarter after the Soleno acquisition.
  • Net income was $206.5 million, or $1.96 per diluted share, versus $209.5 million, or $2.04.

Three Products Lift Revenue 41.2% to a Record $1.1 Billion

Neurocrine Biosciences (NASDAQ:NBIX) reported total revenue of $1,122.7 million for the third quarter ended Sep 30, 2026, up 41.2% from $794.9 million a year earlier. Net product sales were $1,119.0 million. The results were released on Nov 2, 2026.

Neurocrine is a biopharmaceutical company focused on neurology, psychiatry and endocrinology. INGREZZA, its treatment for tardive dyskinesia, generated $801.5 million, up from $686.6 million, on record new and total prescriptions. CRENESSITY, approved for classic congenital adrenal hyperplasia, more than doubled to $210.8 million, and management estimated that over 15% of diagnosed patients have now been prescribed the therapy.

VYKAT XR, acquired through the May 2026 purchase of Soleno, added $106.7 million. Management noted that INGREZZA sales included a $20 million benefit from customer order timing that is expected to reverse in the fourth quarter.

Higher R&D and Equity Losses Leave Net Income Slightly Below Last Year

Operating income rose to $331.3 million from $239.0 million. Net income was $206.5 million, or $1.96 per diluted share, compared with $209.5 million, or $2.04, a year earlier, as a $52.3 million unrealized loss on equity investments replaced a $30.6 million gain. Management said non-GAAP Earnings Per Share exceeded $3.

Research and development expense climbed to $351.8 million from $250.0 million, driven by the Phase 3 programs for direclidine in schizophrenia and osavampator in major depressive disorder. Selling, general and administrative expense was $366.3 million versus $291.6 million, and amortization of acquired intangibles rose to $35.0 million from $1.0 million.

Cash, cash equivalents and marketable securities were $789.7 million at quarter end, versus $2,543.4 million at the end of 2025, after the Soleno acquisition. Management cited about $400 million of Operating Cash Flow in the quarter and roughly $100 million of share repurchases, with $174.2 million left under the 2025 program.

Raised INGREZZA Guidance and a Slower VYKAT XR Path Shape the Outlook

The company lifted its 2026 INGREZZA sales guidance to $2.9 billion to $2.925 billion, after starting the year at $2.7 billion. For 2027, management expects double-digit INGREZZA Volume growth to more than offset mid- to high single-digit net price concessions, with formal guidance due in February. Management said only about 10% of the prevalent tardive dyskinesia population is on a VMAT2 inhibitor today.

On VYKAT XR, management said it expects a return to growth but that the timing could be delayed given recent external events. It plans a 2027 study in people with Prader-Willi syndrome and complex health issues, and pointed to sequential growth driven by net patient additions in the third quarter.

December R&D Day and 2027 Phase 3 Readouts Are the Next Milestones

Neurocrine will host its R&D Day in New York on Dec 15, 2026, with a pipeline update and a panel on VYKAT XR. Phase 3 data for osavampator and direclidine are expected in 2027, and the INGREZZA guidance for that year is due in February.