Posts Tagged ‘nbix’

Neurocrine Biosciences, Inc. (NBIX) – Buzz Stock of the Day

Friday, October 8th, 2010

Shares of neurological and endocrine-related drug maker, Neurocrine Biosciences, Inc. (Nasdaq: NBIX) soared as much as 16 percent from Thursday’s closing price, in morning trading on Friday on news that Jefferies & Co. had initiated coverage of the stock with a buy rating. Neurocrine shares touched a high of $7.37 per share in morning trading, up from Thursday’s closing price of $6.34.

We covered Neurocrine Biosciences in early June 2010 after the company announced a development deal with privately held German drug maker, Boehringer Ingelheim. Prior to that, Neurocrine was a Buzz Stock of the Day in May2010 after the company announced “statistically significant and clinically meaningful” top-line efficacy results from its Daisy PETAL phase II study of elagolix, a treatment for patients with endometriosis.

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In mid-September, Neurocrine said that a potential treatment for major depressive disorder conferred no benefit on patients in a midstage study. The study on GSK561679 involved 150 patients and was conducted by partner GlaxoSmithKline. It compared the drug candidate with placebo. Neurocrine said it plans to meet with GlaxoSmithKline in the coming months after full clinical data are available to discuss next steps for the program. Other ongoing clinical trials on the drug are testing it against post-traumatic stress disorder, anxiety and alcoholism.

Despite the setback, shares of Neurocrine are trading near their 52-week high.

Neurocrine Biosciences, Inc. (NBIX) – Buzz Stock of the Day

Thursday, June 17th, 2010

We first covered Neurocrine Biosciences, Inc. (Nasdaq: NBIX) in late May 2010, when the stock was trading at $3.40 a share. About a week after our post, shares of NBIX climbed to a high of $5.20 a share. Neurocrine rallied again on Thursday, climbing almost 8 percent to a 52-week high of $5.79 a share in morning trading after the company announced a development deal with privately held German drug maker, Boehringer Ingelheim.

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The two companies will work together to research and develop small molecule GPR119 agonists for the treatment of Type II diabetes and other indications . Neurocrine will get a $10 million upfront payment and research funding to support discovery efforts. The company is also eligible to receive up to $225 million in milestone payments, according to Neurocrine.

A day before, Neurocrine licensed the worldwide rights to its experimental endometriosis drug to Abbott Laboratories. Under terms of the deal announced Wednesday, Abbott gains worldwide rights to elagolix in exchange for a $50 million upfront payment to Neurocrine. Abbott agreed to pay all future development costs for the drug. Neurocrine is eligible for up to $500 million in future milestone payments as well as royalties based on sales of elagolix if approved.

Neurocrine Biosciences, Inc. (NBIX) – Buzz Stock of the Day

Tuesday, May 25th, 2010

Shares of drug developer, Neurocrine Biosciences, Inc. (Nasdaq: NBIX) were up 54 percent in morning trading on Tuesday, after the company announced “statistically significant and clinically meaningful” top-line efficacy results from its Daisy PETAL phase II study of elagolix, a treatment for patients with endometriosis.

The San Diego-based company said the drug, elagolix, showed statistically significant reductions in pelvic pain during menstruation, and non-menstrual pelvic pain and dyspareunia, or painful intercourse, when compared to placebo. The US based Daisy PETAL study enrolled 137 endometriosis subjects into one of two treatment groups; elagolix 150 mg or placebo once daily for two months of treatment, in a double-blind design. Subjects are continuing for four months of open-label elagolix treatment and assessments. These top-line efficacy results are based on the ITT population of 132 women.

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Shares began rallying in after-hours trading on Monday, after the company issued its announcement.

“The Daisy PETAL study was successful, all primary and secondary efficacy endpoints were met, and provided exactly the information we need to move this program forward,” said Chris O’Brien, M.D., Chief Medical Officer at Neurocrine in a statement. “We now have confirmation that the daily scales for menstrual and non-menstrual pelvic pain, developed with extensive input from the FDA and patients, function well in a clinical trial setting. These daily endpoints reflect the way women with endometriosis experience their symptoms and also demonstrate improvement with elagolix.”

Shares of NBIX have been up as much as 58 percent in the past three months.