| HOME >> BIOLOGY >> TECHNOLOGY |
SAN DIEGO, July 28, 2011 /PRNewswire/ -- Neurocrine Biosciences, Inc. (NASDAQ: NBIX) today announced its financial results for the quarter ended June 30, 2011. For the second quarter of 2011, the Company reported net income of $2.0 million, or $0.04 per share, compared to a net loss of $5.2 million, or $0.09 loss per share, for the same period in 2010. For the six months ended June 30, 2011, the Company reported net income of $4.9 million, or $0.09 per share, as compared to a net loss of $13.8 million, or $0.27 loss per share, for the first half of last year.
The Company's balance sheet at June 30, 2011 reflected total assets of $127.4 million, including cash, cash equivalents, investments and receivables under collaboration agreements of $118.1 million compared to balances at December 31, 2010 of $144.4 million and $135.1 million, respectively.
"Our financial results for the second quarter of 2011 were consistent with our budget, and our cash target for the quarter was met," said Kevin Gorman, Ph.D., President and Chief Executive Officer of Neurocrine Biosciences. "Our partner Abbott continues to advance the elagolix program in both endometriosis and uterine fibroids, our VMAT2 program also took two significant steps forward during this past quarter. In June, we met with the FDA in a pre-IND meeting for our VMAT2 inhibitor, and based on that successful meeting we submitted our IND in July. Additionally, at the end of the second quarter we were notified that the United States Patent and Trademark Office had approved our composition of matter patent application for NBI-98854, our VMAT2 inhibitor."
Revenues for the second quarter of 2011 were $12.2 million, compared to $4.6 million for the same period in 2010. Revenues for the six months ended June 30, 2011 were $24.7 million, compared to $5.4 million for the first half of 2010. The increase in revenue from 2010 t
'/>"/>
| SOURCE Neurocrine Biosciences, Inc. Copyright©2010 PR Newswire. All rights reserved |
Related biology technology :
1. Neurocrine Biosciences Announces Notice of Allowance for Composition of Matter Patent on VMAT2 Inhibitor
2. Neurocrine Biosciences Announces Successful Phase IIa Clinical Trial for VMAT2 Inhibitor
3. Neurocrine Biosciences to Present at the Cowen & Co. 31st Annual Health Care Conference
4. Neurocrine Biosciences Reports Fourth Quarter and Year End 2010 Results
5. Neurocrine Biosciences Announces Conference Call and Webcast to Report Third Quarter 2010 Financial Results
6. Abbott and Neurocrine Announce Global Agreement to Develop and Commercialize Elagolix for the Treatment of Endometriosis
7. Neurocrine Biosciences Announces Conference Call and Webcast on Worldwide Agreement With Abbott on Elagolix
8. Neurocrine Biosciences to Present at the Jefferies 2010 Global Life Sciences Conference and the 9th Annual Needham Healthcare Conference
9. Neurocrine Biosciences Announces Conference Call and Webcast to Present First Quarter 2010 Financial Results
10. Neurocrine Biosciences, Inc. Announces Exercise of Over-Allotment Option for Common Stock Offering
11. Neurocrine Biosciences to Present at the Roth 22nd Annual OC Growth Conference
| Copyright © 2003-2012 Bio-Medicine. All rights reserved. ABOUT | CONTACT US | DISCLAIMER | PRIVACY POLICY | TERMS AND CONDITIONS |  |