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Neurocrine Biosciences Reports Second Quarter 2011 Results
Date:7/28/2011

General and administrative expenses were $2.8 million for the second quarter of 2011 and $3.1 million during the same period last year. For the six months ended June 30, 2011, general and administrative expenses were $6.0 million, compared to $6.3 million for the first half of 2010. The decrease in general and administrative expenses is primarily due to lower facility related costs.

Other income increased to $0.9 million during the second quarter of 2011 from $0.7 million of income for the second quarter of 2010. Other income decreased from $2.3 million of income during the first half of 2010 to $1.8 million of income for the first half of 2011. The decrease in year-to-date other income resulted from a $0.5 million realized gain on the sale of auction rate securities in the first quarter of 2010.

Pipeline HighlightsElagolix UpdateElagolix Phase III trials for endometriosis are planned to start in the fourth quarter of 2011, with Phase II trials assessing elagolix in uterine fibroids expected to start in the third quarter of 2011.

Additionally, multiple abstracts and datasets from the development program of elagolix for endometriosis will be presented at the 2011 World Congress on Endometriosis to be held September 4-7, 2011 in Montpellier, France.

VMAT2 UpdateThe Company's VMAT2 inhibitor, NBI-98854, successfully completed two Phase I safety studies in healthy male volunteers and a Phase IIa study in tardive dyskinesia patients. Based on these three Canadian studies, the Company filed an Investigational New Drug Application with the FDA Division of Psychiatry.

A second Phase II study is expected to be initiated in the United States in September of this year to further assess NBI-98854 in tardive dyskinesia patients. The design of this Phase II study is a randomized, double-blind, placebo controlled, cross-over trial, using a within-subject comparison for safety and efficacy evaluation. This 32 patient study will as
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SOURCE Neurocrine Biosciences, Inc.
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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
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10. Neurocrine Biosciences, Inc. Announces Exercise of Over-Allotment Option for Common Stock Offering
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