2011 Financial GuidanceThe Company expects to have a net cash burn from operations of approximately $3 to $6 million in 2011. Revenue is expected to increase to approximately $75 to $80 million which includes amortization of up-front license fees of approximately $36 million and anticipated milestones earned under collaboration agreements of approximately $30 million. Expenses for 2011 should approximate $44 to $48 million. Net income for 2011 is expected to be $34 to $39 million, or $0.62 to $0.71 cents per share based on 55 million basic shares outstanding. The Company expects to end 2011 with approximately $130 million in cash, investments and receivables.
Pipeline HighlightsElagolix UpdateAbbott and Neurocrine requested an end of Phase II meeting last year and the companies are scheduled to meet with the FDA in March 2011. The Companies are currently preparing the briefing document for the FDA meeting. This document will encompass the entirety of the elagolix endometriosis program thus far including, twelve Phase I studies and six Phase II studies in over 1,000 subjects for up to six months of continuous treatment. Upon receipt of the written minutes of the March 2011 meeting, the Company will provide an update as to the timing around the elagolix clinical program.
Urocortin 2 UpdateThe Christchurch Cardioendocrine Research Group at University of Otago, Christchurch School of Medicine and Health Sciences, New Zealand, in collaboration with the Company, is enrolling patients with Acute Decompensated Heart Failure in a Phase II study of urocortin 2, and has enrolled 39 patients as of mid-January, of a planned total patient population of 50.
Additionally, urocortin 2 studies are underway at the Centre for Cardiovascular Sciences at The University of Edinburgh through a British Heart Foundation grant. Nine studies are expec
|SOURCE Neurocrine Biosciences, Inc.|
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