Opinions on Neurocrine Biosciences, Inc.’s top-line Phase II data for schizophrenia candidate NBI-1117568 were anything but clear cut on 28 August, as the company expressed strong optimism about the data on a same-day call, but its share price fell sharply. Analysts called the data disappointing yet viable for advancing the candidate into Phase III.
Key Takeaways
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Neurocrine showed efficacy with its selective M4 agonist NBI-1117568 in schizophrenia, but only with the lowest dose tested.
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Analysts questioned the drug’s viability against competitors from BMS and AbbVie that seem to offer better efficacy, while investor doubts led to a 19% share price drop for Neurocrine
The San Diego biotech’s selective muscarinic M4 receptor agonist met its primary endpoint of placebo-controlled change from baseline in the Positive and Negative Syndrome Scale (PANSS), but only the smallest of the four doses in the 210-patient study demonstrated efficacy
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