Neurocrine Biosciences Reports Second Quarter 20...(he six months ended June 30 2009 general...)

Date:7/29/2009

he six months ended June 30, 2009, general and administrative expenses were $9.0 million, compared to $13.0 million for the first half of 2008. We incurred a $2.2 million restructuring charge in the first half of 2008 compared to a $0.7 million charge in the first half of 2009. Additionally, other non-personnel cost savings have resulted in six month over six month savings of approximately $1.2 million.

The Company's balance sheet on June 30, 2009 reflected total assets of $86.9 million, including cash and investments of $74.0 million compared with balances at December 31, 2008 of $118.2 million and $101.5 million, respectively.

"We are in a very good financial position with our burn well controlled and within the guidance we gave at the beginning of the year," said Kevin C. Gorman, President and Chief Executive Officer. "At the same time, we are moving forward with our clinical programs, the most advanced of which is elagolix, and have just put another compound, VMAT2 inhibitor into Phase I trials. We also continue to make progress on several preclinical projects."

Pipeline Highlights

Elagolix Update

The Week 24 results of the recently completed Lilac Petal Study (0702) were released earlier today. This study assessed elagolix in subjects with confirmed endometriosis over a six-month period. The first three months of the study included three arms; elagolix 150 mg, elagolix 250 mg, and placebo. After the initial three months, the placebo arm was re-randomized into one of the two elagolix arms. These 24 Week results of the Lilac Petal Study again confirmed that elagolix has clinically meaningful efficacy coupled with a favorable safety profile.

The Tulip Petal Study (0703) has completed subject randomization in Central Eastern Europe (n=174). This study is designed as a randomized, double-blind, placebo and active controlled trial
'/>"/>

SOURCE Neurocrine Biosciences, Inc. Copyright©2009 PR Newswire. All rights reserved

0 GOOD

Page: 1 2 3 4 5 6 7
Related biology technology :

1. Neurocrine Biosciences to Present at the BioCentury: Newsmakers in the Biotech Industry Conference
2. Neurocrine Biosciences to Present at the Thomas Weisel Partners Healthcare Conference
3. Neurocrine Biosciences to Present at the Bear Stearns Healthcare Conference
4. Neurocrine Biosciences to Present at the A.G. Edwards Annual Emerging Growth Conference
5. Neurocrine Biosciences to Present at the UBS Global Life Sciences Conference
6. Neurocrine Biosciences Announces Conference Call and Webcast to Present Third Quarter 2007 Financial Results
7. Neurocrine Biosciences and Dainippon Sumitomo Pharma (DSP) Announce Agreement to Develop and Commercialize Indiplon in Japan
8. Neurocrine Biosciences Announces Conference Call and Webcast to Provide Indiplon Update
9. Neurocrine Receives Approvable Letter for Indiplon Capsules with Additional Safety and Efficacy Data Required by FDA
10. Neurocrine Announces Work Force Restructuring
11. Neurocrine Announces Appointment of Kevin Gorman, Ph.D., as President and Chief Executive Officer