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Neurocrine Biosciences Reports First Quarter 2012 Results
Date:5/2/2012

es. In addition, the Company faces risks and uncertainties with respect to the rest of the Company's R & D pipeline including risk that the Company's clinical candidates will not be found to be safe and effective; risk that the Company's urocortin 2 and VMAT2 clinical candidates will not proceed to later stage clinical trials; and risk that the Company's research programs will not identify pre-clinical candidates for further development. 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, 2011. 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 per share data)Three Months Ended

March 31,20122011(unaudited)Revenues:Sponsored research and development

$ 2,029$ 3,274License fees and milestones

9,2389,238Total revenues

11,26712,512Operating expenses:Research and development

9,3887,317General and administrative

3,6713,156Cease-use expense

-100Total operating expenses

13,05910,573(Loss) income from operations

(1,792)1,939Other income:Interest and other income

123127Gain on disposal of assets

783816Total other income

906943Net (lo
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SOURCE Neurocrine Biosciences, Inc.
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