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Neurocrine Biosciences Reports Third Quarter 2013 Results
Date:10/29/2013

e and Boehringer Ingelheim during 2012, as scheduled.

Research and development expenses were $9.5 million during the third quarter of 2013 compared to $9.9 million for the same period in 2012. For the nine months ended September 30, 2013, research and development expenses were $30.3 million, compared to $28.1 million for the same period last year. The increase in year-to-date research and development expenses is primarily due to increased external development costs related to the Company's VMAT2 program (NBI-98854) as it continues through Phase IIb clinical development.

Updated 2013 Financial GuidanceThe Company expects to end 2013 with approximately $145 million in cash, investments and receivables. The net loss for 2013 is expected to be approximately $46 to $47 million, or approximately $0.70 loss per share based on 67 million basic common shares outstanding. The previous financial guidance for 2013 was a net loss of $50 to $55 million with year-end cash, investments and receivables exceeding $130 million.

Pipeline HighlightsElagolix UpdateAbbVie is currently conducting the Violet Petal Study, a Phase III study of elagolix for endometriosis. The study is a 24-week, multinational, randomized, double-blind, placebo-controlled study designed to evaluate the safety and efficacy of elagolix in 875 women, age 18 to 49, with moderate to severe endometriosis-associated pain. Approximately 160 sites in the United States, Puerto Rico and Canada are conducting this study.

AbbVie recently initiated the second Phase III study of elagolix for endometriosis. This study is similar in design to the Violet Petal Study and will assess 788 women, age 18 to 49, with moderate to severe endometriosis-associated pain at more than 200 sites globally.AbbVie is also currently conducting a Phase IIb study of elagolix in uterine fibroids. This study is assessing uterine blood los
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SOURCE Neurocrine Biosciences, Inc.
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