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Neurocrine Biosciences Reports Fourth Quarter and Year End 2010 Results
Date:2/10/2011

clinical candidates will not proceed to later stage clinical trials; and risk that the Company's research programs will not identify pre-clinical candidates for further development. With respect to its pipeline overall, the Company faces risk that it will be unable to raise additional funding required to complete development of all of its product candidates; risk relating to the Company's dependence on contract manufacturers for clinical drug supply; risks associated with the Company's dependence on corporate collaborators for commercial manufacturing and marketing and sales activities; uncertainties relating to patent protection and intellectual property rights of third parties; risks and uncertainties relating to competitive products and technological changes that may limit demand for the Company's products; and the other risks described in the Company's report on Form 10-K for the year ended December 31, 2009 and Form 10-Q for the quarter ended September 30, 2010. Neurocrine undertakes no obligation to update the statements contained in this press release after the date hereof.NEUROCRINE BIOSCIENCES, INC.Condensed Consolidated Statements of Operations(in thousands, except for per share data)Three Months Ended
December 31,Year Ended
December 31,2010200920102009(unaudited)(unaudited)Revenues:Sponsored research and development

$ 4,419$   11$10,938$
34License fees and milestones

9,23872922,5632,919Total revenues

13,65774033,5012,953Operating expenses:Research and development

8,0656,75331,15133,722General and administrative

3,3232,84113,27314,360Cease-use expense

2,3981262,7995,984Restructuring expense

———2,557Total operating expenses

13,7869,72047,22356,623Loss from operations

(129)(8,980)(13,722)(53,670)Other income:Gain on sale of fixed assets

92108294841Other income, net

2,5249565,4601,791Total other income

2,6161,0645,7542,632Net income (los
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SOURCE Neurocrine Biosciences, Inc.
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