NBIX - Earnings call 3 2023 | Neurocrine Biosciences, Inc.

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Operator

Good day, everyone, and welcome to the Neurocrine Biosciences Reports Third Quarter results. [Operator Instructions] Please note this call is being recorded and [Operator Instructions].

It is now my pleasure to turn the conference over to Todd Tushla, President of Investor Relations. Please go ahead.

Todd Tushla

Good morning. for Third thanks Call. XXXX and Halloween, joining Quarter Neurocrine's Earnings Happy Roberts, Officer; pleased Kevin Officer; and our Officer. Matt Eiry by be and Chief Chief our Officer; I'm Chief joined Strategy Officer; Kyle Gorman, Gano, to Business Chief Benevich, Eric our Chief our Executive Financial our Commercial Medical Development Abernethy,

you and prepared These of to SEC materially. to certain subject today's we call, are differ factors risk will During the going to filings. may and review be try our uncertainties, discussed statements I latest all results making get questions. and encourage remarks, forward-looking statements. our to actual risks your in we're After

away. Kevin, it So take

Kevin Gorman

going and It's any very Thank really a you, detail. everyone. morning, good Todd, go to into I'm been not very, good quarter.

to going think possible. to you the be want many just to from and I progress start medical with work INGREZZA regulatory today. clinical in standpoint by and your want the that having field much having approval rare we're will spend else I the from there. as with CAH a it's and call That's always, bringing questions talking the standpoint who's our then and a commercial patients success I with really Huntington's units outstanding to so all out with so time we to everyone announce will, is as as much to say What get on that

much So about. to talk

to now. it you. Thank what to So I'd to over I'd like right Matt is turn do like

Matthew Abernethy

had solid III sales an cash we results generation, Between in Phase CAH, and Good morning. incredible quarter. INGREZZA our flow positive record

INGREZZA excellent guidance XX% billion doing QX sales The at $X.XX our INGREZZA billion. growth. and commercial to we continuing dyskinesia develop build billion, range approximately were During and an to to medical market. With INGREZZA increasing $X.XX tardive year-over-year the teams the are million, through marketing $XXX reflecting are job quarter, $X.XX

per earnings end. and $X.X non-GAAP in resulting over at strengthened Our financial share QX, billion of in in diluted profile quarter cash $X.XX

both We continue advancing to prioritize pipeline. our our in capital growing expanding and INGREZZA towards

a hosting and As on agenda be will pipeline during strategy include preclinical will updates. Analyst we on mentioned X. recent Day we The be and focused clinical our December call, R&D an

panel all We also We adrenal New of of the congenital in a therapies feature caregivers clinicians. forward on discussion for hyperplasia you on to will challenges centered patients, you seeing look York. current and addressing

Commercial With this, Chief hand the over Benevich, I call will Officer. to . now Eric Eric? our

Eric Benevich

our the rollout to dyskinesia with growth. the and and prevalent from patients rates tardive around full TD diagnosis for confidence diagnosis a to XXXX and for half our living guidance the QX help initial X announced since I quarter the initial population. new treatment since low years to range team's Matt. our launch, later. of TD the of year HD rate impressed be chorea which It's strong we've continued indication, reflects In franchise was with the of Thanks, dozen improve years from grown been strong our continue to ability single XX% launch, both increase digits and growth INGREZZA just in discuss the our great with continued I'll

with FDA excited Huntington's a by patients August, uncontrollable the we have diagnosis chorea get approval treated. were INGREZZA. Net-net, to more with from much new about progress, we disease. do diagnosed movements is TD option help adults TD indication the that for and XXX,XXX with work great this means who the treatment VMATX of be to the patients not to a X/X inhibitor treated less their the of also of much have roughly In While for it clearly been suffer yet have like associated

who that patients the say early The short introducing I encouraging. need. help are have a to With feedback Now in those opportunity suffer ago, just today stages months INGREZZA untreated continue with yet many few to another But patient HD in has an community can community. early been thousands of we to approval HD we chorea. of occurring the

TD, to benefits INGREZZA for chorea for high These community. and I'm the simple as differentiated confident HD tolerability, attributes offers support inhibitor translate efficacy, most comprehensive X once-daily selectivity these meaningful the prescribed reasons Just chorea INGREZZA and that will and including capsule, the and in dosing HD good sustained rapid patients, VMATX well are VMATX why programs. is

with to close like the faced hyperplasia pediatric on results with adult recent undesirable production and of treatment adrenal to believe dealing both for if excess crinecerfont, long-term complications. patients. outstanding. care Today, believe glucocorticoids positive the we or high-dose trade-off, in III and a with the production, That's effects GCs. androgen are Patients congenital utilizing terrible chronic I The effects the undesirable superphysiologic side option. of androgen excess crinecerfont of a suppress our crinecerfont trial can treatment diligently of value establish the care. the colleagues working standard we be a commercial approved, by to development bring I'd doses community. of high unwanted potential we'll and CAH paradigm-changing were perspective, crinecerfont has to to a clinical expect demonstrate From creates effects to Phase be the new congratulating results standard

exposure lowering been price, reducing speculate this with that it's discussions in excess While genetic and/or to bring the on to benefits with productive disorder. early patients have GC could inherited androgens payers living orphan recognizing premature

Medical time, call colleague, hand Dr. our over Eiry to this Chief my at Roberts, I'll the Officer. So

Eiry Roberts

Thank morning. you, and good

beginning During February, discuss to Today, with the call significant in I pleased the not on-time for milestones, could to earnings back that noted more with our of QX be we approval associated year pipeline INGREZZA for pipeline. which how that several I important XXXX I promised FDA will our featured be of fulfilling disease. Neurocrine address treatment chorea an are promise. further Huntington's

confident be change that noted, untreated, Eric I'm will to the attributes, patients given and with HD INGREZZA's are his and As majority of profile team product that. chorea differentiated Eric attractive vast currently able

alternative formulation, of we've INGREZZA, simply [indiscernible] and prefer potential for This a administration could option accepted tardive INGREZZA differentiate Huntington's capsule. which whole dyskinesia application the take a a who month. further as trouble to not or the serve FDA the have patients swallowing many preferred developed drug disease formulation new last as new To

over is There with conferences. the peer-reviewed Turning believe everyone line outstanding pediatric to either familiar statistically more journal will top Phase clinically much our I you articles and become with from studies. or adult crinecerfont. significant to in results data III and CAHtalystTM meaningful that scientific available time share is

During in hope by can caused the burden adrenal significantly with thus hyperplasia crinecerfont block of deficiency replace our this the with congenital the strategy simple by cortisol with steroids. levels providing access Dr. summarize by CAH [indiscernible] the managed and [indiscernible] more be that alleviated of lower treating by androgen caused call earlier CAH a flexibility a month, exogenous treatment clinicians someday

Matt a significantly the Analyst panel on discussion mentioned, disease upcoming burden as and caregivers ease crinecerfont for we focused our patients, that how Day, are in of could current and approved, burden potentially clinicians. CAH planning In if

muscarinic Phase front, our lead asset, XXX II the in very schizophrenia. On NBI- the in enroll continues study to well

X dosing coming be months. compounds and MX/MX for NBI-XXX, Phase clinical that study. compounds the into In will muscarinic These a the represent is that several agonist accepted, was dual of in application just first trial over we addition, the advancing program I currently our the clinic

for both in NBI-XXX on in line major data coming focal top and the anhedonia stop day. been remain for past over with I'll pipeline our exciting you times this has depressive Kevin. discussing our to programs track we NBI-XXX seizure forward Neurocrine weeks. truly at to Finally, at it onset deliver I It in to turn look here and year, back many of and disorder

Kevin Gorman

you, Nikki, your we're Thank now. questions think ready Eiry. I for

Operator

[Operator take Instructions] Cowen. our question with first TD I Philip will Nadeau from

Philip Nadeau

reduction a expanded on Eric, Did the sales bit such A telemedicine more sales the use. could to quarter? been Was you very question Has strong . help. about for in Congratulations factors Huntington's productive talk there was the detail a of result force? that INGREZZA. driving any quarter? on in growth it led label expanded the Eric a What were quarter. what strong the the in in

Eric Benevich

Phil. Thanks,

team. forward momentum of the we've the neurology, in, segments LTC. psychiatry that we're business carrying seeing now we're and benefits we're throughout just X say growing sales that Obviously, the in frankly, can experiencing really it's expanded been that And nicely think the of all the I year. I

growth excited that last the the thing Our to perform continues based patients of DTC about the on HD rollout, I'll regards for And population, majority is fact The the campaign that and difference make impact remain on we're patient just while to in the opportunity well. minimal. that as current opportunity undiagnosed there's yet a a lot is say quarter untreated. TD of the still with chorea with to

Operator

with We'll Goldman move next Chris Sachs. Shibutani with

Chris Shibutani

higher is TV potential the . of have this noticed overall to in you do going the the increasing How of population. like you look a terms slides, updated from pace I rate go? can much forward? XX% And the growth what might XX% of that think in diagnosis

Eric Benevich

Yes.

guidance personally, the peak say think X launch the the We diagnosed TD of now, Though I digits. from far single we where that's net XX% in we're about can think and time the given a the have patients low are of will baseline terms where ultimately out. been diagnosis of rate haven't years in starting from we that really we at in,

X/X the with really diagnosis, we've So rate progress research of we But and is made. approximately time patient undiagnosed. that a good continue TD inhibitor. the VMATX a they of patients about when half treatment TD, remain or about offer to only increase with the our And indicates feel still, that I diagnosed

the in both the terms And in patient the improvement, terms population. frequency have of diagnosis for in INGREZZA of of use so we rate room and that of

still despite room progress. lots improvement the of for So

Operator

from with next Paul Matteis Our comes Stifel. question

Paul Matteis

the Phil's just net Or not any in as expected? it benefits it the then the just data what's ask a want like asset? quarter this And forward an question, how right for And taking do to moving but win tracking this forward, is clarify to were a inventory more either driven? it open here, get there is III? about price not I of criteria to one-off program, study? this then from Like to think focal or you qualitative? what's you about are excited wanted Phase just for on close the And just criteria, into p-value I better we how question kind than

Unknown Executive

quarter nothing The growth, very from was to nice hear you. clean, Paul, significant inventory. underlying nice note very, on to

reflects the to really job with treated really getting team, an neuro and drive patients INGREZZA. LTC diagnosis both doing excellent continuing So site,

very a So for us the overall, up . quarter good year Eiry? the XXXX. nicely of heading into and sets rest

Eiry Roberts

thing know, the about excited very focuses the first we release XXX remain that, to to data you a for study, in terms of And be selective the asset able to with patients study study. from bring we're potential concept quarter. agent. benefit that onset This NAVX.X of the in on can as proof for Paul, track this It's it is seizures. focal however, obviously,

who that think So focal high. the it in the [indiscernible] onset And response initial other X is we obviously dose-finding molecule. to patients the context to on a this bar setting at can face the necessary will inadequate seizure frequency in up looking have of an of treatments. is the in be we in seizure this But reduction program see I it be study

our based We terms understand be relates want and there, this what obviously, is to signal. given that selectivity, in as the in we proof-of-concept And robust mechanism to we'd this haven't about of going see about on specifically important tolerability talked a study, well. a targets is that how decision-making efficacy but the

Operator

from Our comes next with Bank question Ahmad of America. Tazeen

Tazeen Ahmad

me. secondly, things, this of as couple part that's grand update. opportunity very you opportunity that, chorea. I just you on going the of do the so how questions of And just for Eiry, know make to does want think I be then in not data much of onset focal be Huntington's, will it to sure from freedom the be contribution. line. an about top big to showing year's seizure guide to clarify, for A But INGREZZA the in include in that seizure expect you scheme

Eiry Roberts

tolerability actually seizures Thanks, frequency Tazeen. the of will related is to study, input as primary we With safety, issues the be but and well. reporting out this concept study

any in information frequency, percentage both of overall getting [indiscernible]. have So of to reduction a around patients terms seizure XX% and also in we seizure reduction

Tazeen Ahmad

Okay. patients And how . would of many be? that data worth

Eiry Roberts

dose X active there but study. X placebo patients, X XXX group levels, the It's and in are

Tazeen Ahmad

the then Huntington Okay. on And ?

Eric Benevich

I'll Yes, that question. tackle

the and inhibitor. addressable a on is get XX% about a disease the people relative basis, chorea living with estimate VMATX than opportunity XX%, obviously Huntington's smaller to around of currently So We only TD. treated Huntington's population with XX%

and to and growth that continue the increase especially a to to to patient make And on it's so while into TD still population smaller be relative opportunity opportunity a a than significant TD future. is difference is commercial a in the there driver going going treatment rate basis, our

Operator

RBC Capital Question comes with from Markets. Brian Abrahams

Brian Abrahams

talk your of de most growth novo Neurocrine or commercial it the sheet Hunt's. can latest Curious use external of maybe update and about there. you're strategic dynamics about -- just internal the uptake in on sort just to bit the balance or your seeing continuing you focus the you're an outside on on views? those So that initial expand us but investment Can terms you that of and there? maybe the any INGREZZA on secondarily, and a you and you've past, on the you've remains latest primary give focusing patients where maybe optionality give your kind thinking segments of then collaborations your versus opportunities been see capital, maybe switchers? seeing And like in on talked of little sounds might pipeline, other on expecting

Unknown Executive

and that's Brian, worked so many comes and to, growth. it us. in out why been foremost, as for to quite to And use our changes see continue good and We're strategy, don't this drug it's possible. continued you bring invest first think is capital, to any going this very there's INGREZZA as I of dramatic to in well when

and the going see as to at company in a finally, some in from we into multiple that Second, our at areas on that's the we'll pipeline what our and which then Day, therapeutic we're R&D research doing, in focusing the ourselves neuropsychiatry, standpoint neuroendocrinology point transition in we modalities on, is near a and is be very be concentrate of the length as neuroimmunology. have neuroscience, you discussing that here. some future, can currently And investment

we into quarter going in have year. investing to probably a ADCOM be XX next year. it's and knock We and going to is for be and is to then for going readouts will continue Getting therapy products this crinecerfont not ready next invest for these what the those number patients to of We're on believe in submission the first launch. for a since since plus with ultimately what we the years drug an be

priorities, there's use there's our So our of capital.

Eric Benevich

chorea. question Yes. around patient in types comment And can the I on Huntington's

And these through on to for an specialists calling neurologists neurology excellence is disease, the our is centers this primarily that So opportunity of movement Huntington's going patients. as be as driven force. sales they're general well that treat

with secondarily the movements. time in think I primarily about being and earlier roughly potentially you XX% the population treated patient the not about If the of with getting getting half that the with inhibitor. antipsychotics about you're About of time, improve for eligible described treated anything VMATX dynamics to with currently help the only are treated X/X

of be de the diagnosed to about as they in getting started launch. I have declined have reasons So the have, to didn't very treatment and of feedback that or reason, some INGREZZA majority the for are I if maintenance addressable at novo tetrabenazine very or think pool. far positive. But outset various And tried types really you able past, deutetrabenazine them as either chorea. then we're is here our the achieve dose. said, for weren't that's And yet. on effective responded it's that patients that whatever Obviously, the there patient of patients they days patients patients are that well and newly with early mentioned Certainly, the tolerate getting an so earlier, would

for The considered really treatment on are well patient INGREZZA. that with doing all group patients not that is currently would are that we're for treatment. these one be candidates types pushing So

months a So I new lot opportunity within make difference coming here of and in think and that this years. a growth excited to there's indication we're the

Operator

Your Akash next Jefferies. from comes Tewari question with

Akash Tewari

This has[indiscernible] Akash. for on

what modeling sales both Now the pediatric be population larger for be have for we duration [indiscernible] or opportunity? crinecerfont, that you data And will of sets adults which should

Eiry Roberts

start. me Let

significant the we reading in of pediatric terms unmet adult with that crinecerfont. the and out, patients So in need believe programs both is

been terms population no medication for to, has types for alluded patient related XX new medication XX, Kevin this are that the nonsteroid there in last As years. of

we believe, strength fundamentally to this program change generated that in based do approved, that of if for an the is and we've the on And quality crinecerfont, so opportunity paradigm data the treatment there patients. these for

I educational in fall setting. patient so adult think of and will areas. And and will patients on we the actually and And both that focused the pediatric be caregivers we both can, both support our every processes in of reaching the those clinicians, that

Matthew Abernethy

as safety should out. well data to to -- the but we the this we chronic as patient the expect a would be something So [indiscernible] is will profile that and on be expect saw and treatment benefit control safe would that see chronic as that them the would given we that to show efficacy, get have treatment,

Eiry Roberts

to data have using additional just the be support And we think that many now several generating safety And I years way ongoing is flexibility medication of in goal this allow information if open-label worth data that, to obviously would of a in approved. patients. chronic the

Operator

Joshua comes Schimmer Cantor. with from Question

Joshua Schimmer

strong earlier Congrats off think very on the On effort care just past, facility even this I ground. year, indicated that was a the still INGREZZA, long-term the in you quarter.

of there meaningful that a dynamics little was think become this you good is the over bit year to last starting whether I indicated transpired Can on revenue? and . what's quarter, course more that the momentum contributor to about segment. there and you that in talk the a

Eric Benevich

into going the spring that sales a it's well, just year, of contributor mentioned it's LTC XXXX. as this our force I revenue that growing think certainly Certainly, launched think and do I we I in to Yes. earlier. meaningful remember

effort. getting long-term laying towards And driving TD first into that the few targeting essentially that is were in so we're quarters our for this Remember about in And this the foundation really, X.X years care. new down space.

team done really has and so pharmacies dynamics of teams LTC in of nice driving the with in done long-term with segment. facilities, care think, have job, long-term really a now I the And care INGREZZA and job our nice understanding care a the the diagnosis educating treatment

mentioned So the really nicely, reason nice before, a it's QX. such it's that had growing of and as we've I part

Operator

comes Question Carter with Barclays. from Gould

Carter L. Gould

on Congrats This is quarter. a Carter. for great Leon on

meeting medical year, Essentially, the ahead end of Our an question data. Wondering or share expect we just could CAH. . to perhaps around relating this we -- this publish appropriate middle maybe we the be would to though publication should see of do time?

Eiry Roberts

couple A on that. comments of Yes.

First less of or we when we the we were information probably or shared a now, than so the showed all, data month of XX% X% approximately ago that generating.

working now, then do generated. as publication information possible our the together we the of all data presentation And next NDA be that for parallel, with preparing pulling rapidly goal obviously, all we year. so right will that we're in [indiscernible] submission, on together which And pull the for as and remaining will

fall the so meetings pediatric in And would that. space endo include targeting in to, publication the and likely of meetings key key you with a April the Most running the to that the from endo are additional be we with in around presentation U.S. I for those those that both most parallel alluded with And meetings year. next together -- time think Europe. in be full

Operator

Rama from JPMorgan. comes Anupam question next Our with

Anupam Rama

quarter. on the Congrats

Healthcare preannounce INGREZZA Conference. forward XQ provide guys you last or guidance didn't at the year year while sales JPMorgan So

the strategy taken in have past. this You

what the just So in conference. expecting this be we terms should year wondering of

Matthew Abernethy

from hear to nice Anupam, you.

But with including you with seeing pipeline. covering financial are associated INGREZZA provide XXXX. guidance, a February conference sales from January. similar expect we're at a to what we'll the not should providing we ongoing information spending year and earnings QX call, we'll last a perspective looking JPMorgan be going update an where to during lot and you You sales that forward performance picture INGREZZA be expect that full we for our in And time and of QX providing to our

Operator

Question comes from Oppenheimer. Jay Olson was

Jay Olson

indications life XXXX beyond there talk might on Teva have about INGREZZA, estimates? go management for Sanofi considering could consensus clinical and additional Could you development. well currently new you for and . with indications you in which another Congrats you since quarter. pursue Are especially INGREZZA settled inflative cycle new for X the plans runway,

Eiry Roberts

Jay. Thanks,

team ongoing We we opportunities serving both field our basis, out and the continue INGREZZA to the on in look obviously clinical in that from patient groups development an different also gain at insights the in for setting. from medical

are taking you focused moment, of in that we've as key being on breadth focused highest the at given which we those cerebral going dyskinetic they and successful our on have is However, given of the two we cerebral palsy palsy. that dyskinetic X adjunctive [indiscernible]. else schizophrenia, everything of And treatment likelihood mentioned, the on pipeline, have indications,

target Huntington, think I dyskinesia really both cerebral that being in in we and palsy the of the movement United context with common most data disorder strong generated the the dyskinetic States. in now in childhood the chorea

it program And We it And appropriate indication things a both of III U.S. for the schizophrenia, a indication. to us X Phase adjunctive drove was believe for setting. us have the that pursuing to in U.S. combination that was of outside an and be treatment in then currently we that ongoing

our obviously for program The first tolerability schizophrenia experience. profile we already had from that the patients dyskinesia INGREZZA in key target was safety and with very

data preclinical And thirdly, some synergistic perspective therapy what potential the beneficial had then were be showing might adjunctive on we or we that an obviously, field. with hearing from Secondly, additive efficacy. from

in data opportunities, are each an ongoing So at to we of those on basis. getting programs continue other right obviously, we those, focused possible rapidly do now as as to but and look on

Kevin Gorman

mid-XXXXs. least XXXXs would as negotiations the them. the parties, And of into got end said, with with we confident X with is to our out seen this we And patent that, feel position of our we've that runway long to with what settled a I in add late medication. We you've as that X at

runway that still the add I is a left while thing So to very only would INGREZZA, as other long I it. said,

tardive our group and focused dyskinesia. in Our leadership movement in disorders is maintaining research on highly

Operator

with comes Skorney Your Baird. next question Brian from

Brian Skorney

on Charlie Brian. for is This

track the we give anhedonia asset, wanted and here exactly generated previous struggled that believe clinical the looking assets confidence still this be in differentiated so strong I to efficacy that get What data of gives in it's a have the far to what fourth So signal?. on that bar you which are have should terms you data asset in ask you quarter. us from about to I at

Eiry Roberts

So yes, we to II out molecule. are this this actually in an GPCR This study Phase read anhedonia [indiscernible] on from track quarter. GPR-XXX is data the

about this of potential we the So the a the in although range little in is great use And target understand symptoms biology it's of major research patients that's deal anhedonia. where set experienced difficult anhedonia. been depressive disorder. a by been very field the confidence a very around there's Obviously, within symptom with of successful

so that patients Phase on this on but context, only the the scales. proof-of-concept also at II not anhedonia scales the is potential in And impact focused study on initial themselves, of XX XXX depression the in looking in [indiscernible] skills

whether effect to interested be data we out XXX,XXX predominantly understand antidepressive scales anhedonia. on that alone will of we or read whether so is And effect the when the

In setting and it to is sharing will look have bar, a efficacy terms we information and when the of be the data, totality we at from study safety a the available. perspective, looking signal-seeking proof-of-concept this forward both an we of

Operator

comes Your Partners. with next from Leerink question Marc Goodman

Marc Goodman

level be there. at to expecting still I XXXX? event. R&D of I are about just you to And be us we talk SG&A XX% should mean the curious ?. XXXX going [indiscernible] was that into can guiding how much given leverage Matt, kind leverage you

Matthew Abernethy

that Yes. SG&A XXX the From team continues we're of we you this a and and the leverage an basis perspective, see sales drove investments points to year making testament around can how potential year as And growth. you in the XXXX. CAH be starting INGREZZA behind drive medication. revenue most sales launch investing to next mentioned, likely prepare of for to a clearly We'll

and will that our when year that some pressure I put leverage, get SG&A but on a should say you SG&A provide call. we'll would healthy February we specifics little leverage our earnings anticipate So to more of bit next

for upon XX% assets R&D thinking capital said spending really we've on those a R&D shareholders, as December. that on that Day perspective. we in a around is in But for On front, quality making we're difference ultimately be we're some and then investments more dependent of yes, think that R&D what during the before, allocation is providing from insight having can our make we'll early patients and our those

Operator

Our comes Morgan next Stanley. question with Hung from Jeffrey

Lee Hung

for walk differentiated I us is the I? like selective Could [indiscernible] Reed guess This recent CNS you NBI-XXX agonist X. through versus just X, dual MX/MX in or maybe what touch Michael for to on I X, the makes wanted are [indiscernible] Hung. the strength Phase it Jeff what on

Eiry Roberts

Michael. Thanks, Yes.

clinical into clinic. XXX, just very portfolio we our our program initiated of to obviously, So to Phase on take I we're of agonist and excited second the able be muscarinic the

mean would biology for I agent strongly we of psychosis MX neuropsychiatric is both treating by approach muscarinic obviously, in and that cognition, beyond and actually opportunities successful treating have enter obviously, targeted the to clinic. with MX in on necessary still So we now think the asset, to it the those assets. potential directly don't as in neurological mechanism agonist including add XXX yet, feel for patients. very set very of toxicology but alone in moving MX conditions, broad I data that provide this selective our clinical clinic value and regard, of a agonism room is although lot both was that in navigating very preclinical [indiscernible] validated the schizophrenia, potential There patients forward is impacted to all a and

indications for studied. with taking the as broaden into first, be that and to this psychosis-related MX to being could able selectivity that well drug those this view we so impacting the MX in And cognition are indications a considered range we've as already of

Operator

Our William Blair. question with comes Minter next from Myles

Myles Minter

into are than previously you've the of the better to penetrating XX% [indiscernible] think you an that I facility XX% market. expected that is Seems market. you previously opportunity like additional mentioned longer

that was XX% at additional So from number? expectation all that changed TAM XX% to .

Eric Benevich

last Our just mentioned, approximately year. currently that care facilities. to people in as living with XX% segment And TD are XX% long-term we launched estimate of is I living that into

or we years. delivering a relative exceeding developed, opportunity expectations. say, X-plus it's we've for are had is on high neurology job than segments expectations We in the on on expectations. psychiatry I let's been a So that it's for where doing those the basis, growing nicely. But the less always the say team LTC great and wouldn't

Operator

from Suneja next question Guggenheim comes Partners. Yatin with Our

Yatin Suneja

Just study. FOS the a clarification on

in [indiscernible] shy the but of that I reduction is sort have about in the past, to that like from did numbers, basically articulated placebo should high the effect, robust. of putting efficacy doubling think those away to or of bar would in of you implying see seizure about XX% today be you the say sort the you but XX% the

So is curious close what would by provide what be XX%? color that it to I'm like is Or you Any you helpful?. mean can robust? XX%? do -- just Is

Eiry Roberts

a with been placebo other XX% active top therapies. an XX trial at of with what's That would about recent with be rate end the range of is of treatment Yes, seen the some readouts.

And that's think so This study, I a a though. is proof-of-concept bar. reasonable

the just we robust be looking the the understand Phase for because selective of reduction this an that aiming it's of is. risk to profile. safety data into benefit frequency information the so beyond II improvement Also, at and is for our the very other end day, importantly, individuals. And seizure And of will we're study, elements tolerability how in first and in mechanism context these just the

Operator

Chico Securities. Laura with from comes Wedbush question next Our

Laura Chico

point. this going what antipsychotic continued assumptions usage grow related Just on one your growth of duration at to on continued forward? And INGREZZA. then that, to the are Has . on treatment

Eric Benevich

first your the part about . I repeat didn't that? treatment. Can you of question catch

Laura Chico

point?. continuing Sure. to the treatment this expand duration Is INGREZZA of on at

Eric Benevich

the INGREZZA of we steady the been had compliance We've persistency through days early been early persistency had launch fortunate rates XXXX. with And that through since have the and -- of of -- compliance. of the we've days really very Yes. the good from very quite really launch

to And big already with. changes any so quite they there, we're were not seeing but begin high

one I growth of So the for that's of drivers think INGREZZA. continued

Operator

Canaccord. Kulkarni from with comes question Next Sumant

Sumant Kulkarni

for that anything U.S. a antagonist combination crinecerfont CH, is use perhaps And assuming with market all expect of the ACTH well goes in launched So CRFX receptor how you've for precludes approval on play that antagonist, an to you a out the of in [indiscernible] couple example. years there after and do

Eiry Roberts

on the and there. similar has not can't With part to I second therapy that respect crinecerfont studied so antagonist. I in is result think in on want ACTH in of And CRFX of the need might can the and we terms that implication relevant the Yes, treatment to make to Eric of clinically reduction before would really comment been happen a combined data mean, question, seen with market, and would androgen comment your a for inhibitor together I what far maybe can androgens combination comment somewhat make an of [indiscernible] though, be that any very reduction in both and clinical we've action substantial our direct alone.

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Neurocrine Biosciences (NBIX) 31 Oct 232023 Q3 Earnings call transcript