Neurocrine Biosciences, Inc. Q3 2026 Earnings Recap

Neurocrine’s shares rose 13.4% after earnings, with investors responding to record product sales above $1.1 billion and a raised full-year INGREZZA outlook. INGREZZA’s 17% year-over-year sales growth and continued double-digit volume growth expectations led the positive read-through, alongside record profitability.

Key Takeaways

• Net product sales exceeded $1.1 billion, up more than 40% year over year; non-GAAP earnings were above $3 per share.
• INGREZZA sales were $801 million, up 17%; the company raised 2026 guidance to $2.9 billion–$2.925 billion. Q3 included a $20 million customer-order timing benefit expected to reverse in Q4.
• Management expects INGREZZA’s double-digit volume growth in 2027 to more than offset anticipated mid- to high-single-digit net pricing headwinds.
• CRENESSITY generated $211 million in sales, with more than 15% of the estimated diagnosed classic CAH population prescribed the drug. VYKAT XR sales were $107 million, driven by new patient demand.
• Neurocrine reported record operating profitability, about $800 million in cash, and $400 million in operating cash flow; Phase III readouts for osavampator and direclidine are anticipated in 2027.