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Neurocrine Biosciences Secures Committed Equity Financing Facility
Date:9/15/2009

subject to certain conditions, including a minimum share price threshold and the requirement that no individual tranche exceed $15 million. Kingsbridge may purchase shares of common stock pursuant to the CEFF at discounts ranging from 5 to 10 percent, depending on the average market price of Neurocrine's common stock during the applicable pricing period.

The CEFF does not impose any restrictions on Neurocrine's operating activities or capital raising alternatives, other than with respect to financings similar to the CEFF. During the term of the CEFF, Kingsbridge is prohibited from engaging in any short selling or derivative transactions related to Neurocrine's common stock.

The securities issuable pursuant to the CEFF have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration under the Securities Act of 1933 and applicable state securities laws or available exemptions from registration requirements. Neurocrine has agreed to file a registration statement with respect to the resale of shares issued pursuant to the CEFF within 60 days of the date of the CEFF agreement.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. Any offering of Neurocrine's common stock under the registration statement referred to above will be made only by means of a prospectus.

Neurocrine Biosciences, Inc. is a biopharmaceutical company focused on neurological and endocrine diseases and disorders. Our product candidates address some of the largest pharmaceutical markets in the world including endometriosis, anxiety, depression, pain, diabetes, benign prostatic hyperplasia (BPH), irri
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SOURCE Neurocrine Biosciences, Inc.
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