SAN DIEGO – November 02, 2026 -- Neurocrine Biosciences (Nasdaq: NBIX) grew third-quarter 2026 revenue 41% year over year to $1.1 billion, up from $795 million, and raised its full-year INGREZZA net sales guidance to $2.9 billion to $2.925 billion.
The prior INGREZZA range was $2.825 billion to $2.875 billion. Net product sales topped $1 billion for the first time, according to the company.
INGREZZA sales rise 17% to $801 million on double-digit volume growth
INGREZZA growth reflected record TRx and NRx and high persistency rates. CRENESSITY contributed $211 million, with approximately 80% reimbursement for dispensed prescriptions. VYKAT XR added $107 million.
Neurocrine acquired VYKAT XR through its purchase of Soleno Therapeutics, which closed in May 2026. The company recorded about $2.2 billion of VYKAT XR intellectual property on its balance sheet, to be amortized over an expected 16 years.
Non-GAAP EPS climbs to $3.29 while GAAP earnings slip
Non-GAAP net income reached $347 million, or $3.29 per share, versus $222 million, or $2.17, a year earlier. GAAP net income fell to $207 million, or $1.96 per share, from $210 million, or $2.04. Higher net product sales of $329 million drove the comparison.
GAAP operating expenses included Soleno acquisition costs that are excluded from Non-GAAP figures. The quarter also carried a $52 million loss from changes in fair value of equity investments, against a $31 million gain in the prior-year period.
R&D spending rose to support the osavampator Phase 3 program in major depressive disorder and the direclidine Phase 3 program in schizophrenia. Development milestone expense within R&D was $10 million, versus $1 million a year earlier. SG&A increased on the Q1 2026 expansion of INGREZZA and CRENESSITY sales teams and on VYKAT XR support.
Cash, cash equivalents and marketable securities totaled about $790 million at September 30, 2026.
Full-year guidance embeds $33 million in milestones and $95 million in deal costs
R&D guidance includes approximately $33 million of development milestone expense for in-licensed candidates. Non-GAAP guidance excludes about $115 million of stock-based compensation in R&D and $170 million in SG&A. That includes roughly $58 million tied to accelerated vesting of Soleno employee equity awards. It also excludes about $95 million of acquisition, integration and divestiture-related expenses.
Pipeline adds obesity and Alzheimer's programs
Neurocrine started a Phase 1 first-in-human study of NBIP-1968, a GLP-1/GIP/glucagon triple agonist for obesity. This follows the Q1 2026 Phase 1 start for NBIP-2118, a potential first-in-class CRF2 peptide agonist. Data from both will inform a co-formulated combination, including the optimal ratio, while NBIP-2118 will also be tested as a standalone obesity therapy.
The company also began a Phase 2 study of NBI-567, an M1/M4 selective muscarinic agonist, as adjunctive therapy for cognitive impairment in Alzheimer's disease.
Results of the KINECT-PRO Phase 4 open-label study, published in CNS Spectrums, showed once-daily INGREZZA delivered sustained gains in patient-reported quality of life and functionality, plus improved clinician-rated tardive dyskinesia severity. Gains held across psychiatric diagnoses and baseline severity, including mild TD.
Eiry W. Roberts, M.D., a former Chief Medical Officer and most recently Strategic Advisor, has rejoined as CMO. Neurocrine will host an R&D Day in New York on December 15, 2026.