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Neurocrine Biosciences Reports First Quarter 2008 Results
Date:4/30/2008

ver accomplished. With respect to its pipeline overall, the Company faces risk that it will be unable to raise additional funding required to complete development of all of its product candidates; risk relating to the Company's dependence on contract manufacturers for clinical drug supply; risks associated with the Company's dependence on corporate collaborators for commercial manufacturing and marketing and sales activities; uncertainties relating to patent protection and intellectual property rights of third parties; risks and uncertainties relating to competitive products and technological changes that may limit demand for the Company's products; and the other risks described in the Company's report on Form 10-K for the year ended December 31, 2007. Neurocrine undertakes no obligation to update the statements contained in this press release after the date hereof.

NEUROCRINE BIOSCIENCES, INC.

Condensed Consolidated Statements of Operations

(in thousands, except for loss per share data)

Three Months Ended

March 31,

2008 2007

(unaudited) (unaudited)

Revenues:

Sponsored research and development $12 $86

License fees and milestones 1,730 -

Grant revenue 9 18

Total revenues 1,751 104

Operating expenses:

Research and development 14,227 19,061

General and administrative 8,286 8,317

Total operating expenses 22,513 27,378

Loss from oper
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SOURCE Neurocrine Biosciences, Inc.
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