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Neurocrine Biosciences Reports Third Quarter 2010 Results
Date:10/28/2010

ependence 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, 2009 and Form 10-Q for the quarter ended June 30, 2010. 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 loss per share data)Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2010200920102009(unaudited)(unaudited)Revenues:Sponsored research and development

$  5,210

$  3

$  6,519

$  23License fees and milestones

9,238

730

13,325

2,190Total revenues

14,448

733

19,844

2,213Operating expenses:Research and development

8,227

7,401

23,086

29,057General and administrative

3,635

2,966

9,950

11,988Cease use expense

120

89

401

5,858Total operating expenses

11,982

10,456

33,437

46,903Income (loss) from operations

2,466

(9,723)

(13,593)

(44,690)Other income and (expense):Interest income and other income (expense)

118

281

791

(1,249)Gain on disposal of assets

749

1,265

2,347

2,817Total other income (expense) net

867

1,546

3,138

1,568Net income (loss)

$  3,333


SOURCE Neurocrine Biosciences, Inc.
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