Short answer
Neurocrine Biosciences Inc (NBIX) filed its fiscal 2017 10-K annual report with the SEC on Feb 13, 2018. It reported revenue of $162M (+977.5% year over year) and net income of −$143M.
- Top risk flagged: FDA post-marketing requirements for INGREZZA, approved April 2017, with noncompliance risking withdrawal
FY2017 key financial metrics · XBRL
- Revenue
- $162M
- +977.5% YoY
- Net income
- −$143M
- −1.0% YoY
- Operating margin
- -81.3%
- +901.2 pp YoY
- EPS (diluted)
- −$1.62
- +0.6% YoY
- ROE
- -38.3%
- +6.5 pp YoY
- Operating cash flow
- −$94M
- +11.2% YoY
Source: XBRL data from the Neurocrine Biosciences Inc (NBIX) FY2017 10-K on SEC EDGAR. USD.
Neurocrine Biosciences Inc FY2017 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Biopharmaceutical model: discovery, development and commercialization of neurological and endocrine medicines for high unmet needs
- INGREZZA FDA-approved for tardive dyskinesia, first FDA-approved TD drug, with U.S. launch May 1, 2017
- Strategic expansion: exclusive BIAL license added U.S. and Canadian opicapone rights, advancing toward potential NDA submission
- Commercial buildout: approximately 160-person specialty sales force and approximately 400 full-time employees at year-end
- R&D investment reached $121.8 million, up from $94.3 million in 2016, supporting INGREZZA, elagolix, opicapone and NBI-74788 programs
Management Discussion & Analysis
- Revenue $161.6M, up $146.6M YoY, driven by $116.6M INGREZZA sales and $45.0M collaboration revenue
- Net loss $142.5M vs $141.1M, with operating expenses rising $130.6M
- Best performer INGREZZA: $116.6M product sales; worst segment unavailable, no segment reporting disclosed
- Operating cash use $94.3M; financing provided $516.6M, including $502.8M convertible-debt proceeds
- 2018 outlook: higher sales but net loss, with increased R&D and commercialization costs; additional funding may be required
Risk Factors
- FDA post-marketing requirements for INGREZZA, approved April 2017, with noncompliance risking withdrawal
- ACA pricing pressure, including 23.1% Medicaid rebates and 50% Medicare Part D coverage-gap discounts
- Single-source suppliers for INGREZZA and its active pharmaceutical ingredients, with FDA approval required for replacements
- Teva’s AUSTEDO approval in August 2017, intensifying competition in tardive dyskinesia
- $517.5 million 2.25% convertible senior notes due 2024, creating liquidity and potential dilution risk
Generated from the filing text; verify against the original. How to read a 10-K
Other Neurocrine Biosciences Inc annual reports
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.