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Tuesday, Dec 6, 2022
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Neurocrine Reports Big Gains

San Diego biotech Neurocrine reported a big increase in revenue following the launch of a nervous system drug in late spring, according to financial results released Feb. 13.

Revenue in 2017 was $161.6 million, a 974 percent year-over-year increase.

About $116.6 million of the total came from Neurocrine’s Ingrezza, which was released in May. Ingrezza is the first treatment for tardive dyskinesia (TD), a nervous system disorder that causes uncontrollable stiff, jerky movements in the face and body.

The remaining $45 million in 2017 revenue came from collaboration agreements with AbbVie and Mitsubishi Tanabe Pharma.

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Costs also rose as part of the commercialization bid. In 2017 selling, general and administrative costs were $169.9 million, up from $68.1 million in 2016.

Neurocrine reported a net loss of $142.5 million in 2017, slightly higher than the prior year. However, the company made big gains at the end of 2017 — net income in the fourth quarter was $6.9 million, compared to a net loss of $44.7 million in same period of 2016.

In addition, the company is well capitalized. Total assets in 2017 were $817.6 million, a 124 percent year-over-year increase.

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