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Neurocrine Announces Sale of 4,784,689 Shares of Common Stock, to Raise Proceeds of $10 Million
Date:12/17/2009

SAN DIEGO, Dec. 17 /PRNewswire-FirstCall/ -- Neurocrine Biosciences, Inc. (Nasdaq: NBIX) today reported that it has entered into a privately negotiated transaction to sell an aggregate of 4,784,689 primary shares of its common stock to affiliates of Venrock at a price of $2.09 per share, raising aggregate gross proceeds to Neurocrine of approximately $10 million. Neurocrine expects the financing to close on or about December 22, 2009, subject to customary closing conditions.

A shelf registration statement relating to the shares of common stock to be issued in the offering has been filed with the Securities and Exchange Commission (the "SEC") and has been declared effective. A prospectus supplement relating to the offering will be filed with the SEC. Copies of the prospectus supplement and accompanying prospectus may be obtained directly from the Company by contacting Neurocrine Biosciences, 12780 El Camino Real, San Diego CA 92130 or through the SEC's electronic data system at www.sec.gov.

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 or other jurisdiction which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. Any offering of Neurocrine's common stock under the registration statement referred to above will be made only by means of a prospectus.

About Neurocrine Biosciences

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 prostat
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SOURCE Neurocrine Biosciences, Inc.
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