Maybe. it often moves double the bio indexes up or down. so I don't know if it got ahead or not. I think technically it was overbought. Maybe the drop will help the charts some. mongus might be better able to answer that. It does seem like the selling pressure subsided today as we finished green.
i'll take what we can get. it was an ugly couple days trading down while the market and biotech was up.
From Leerink: For NBIX, the data, as well as the company's
APA event in the evening, offered incremental positives relative to the
American Academy of Neurology (AAN) presentation. Meanwhile, for
TEVA, the APA poster represents the first time that SD-809 TD data
were presented beyond the prior top-line release last summer. While
our TD revenue model continues to assume a 50/50 market share split
which reflects TEVA's significant commercial advantage in neurology, the
APA presentations reaffirm our confidence that despite the compounds'
identical mechanisms-of-action, valbenazine may have an incrementally
better product profile.
Are we really looking at a year plus for an FDA decision under Fast Track Status? i don't really know, but I was hoping for a quicker decision.
Frogs, I thought you used to be in the $90+ camp for a buyout? What happened? General biotech atmosphere not as favorable?
Kevin said at conference today that there is a six month continuation period for 2nd endo trial plus another year of safety data and that the FDA said they wanted it all before filing an NDA. Sounds like NDA won't be until 2nd half of 2017 if this schedule is accurate.
A 100% premium from the current price for buyout seems a bit a rich to me. Would love it, but I think I'm closer to $70 for a near term buyout (next couple of months) given the current biotech landscape.
Trading down with biotech in general which is being slaughtered. NBIX's future depends on VMAT results due out in the next week or two. If positive (which many expect with no guarantees), all will be fine.
Bier, careful on Linn. Don't know alot about it, but see this article today:
I think NBIX has the potential to run up some to Fibroid results in Sept/Oct time frame. It always seems like NBIX has a good run prior to results being released. Assuming the overall market doesn't take a big downturn, i could see this thing run to $60 or higher by September/October. JMO
Not bad. Europe to follow?
Neurocrine Biosciences and Mitsubishi Tanabe Pharma Announce Agreement to Develop and Commercialize VMAT2 Inhibitor NBI-98854 for Movement Disorders in Japan and Other Select Asian Markets
SAN DIEGO, March 31, 2015 /PRNewswire/ -- Neurocrine Biosciences, Inc. (Nasdaq: NBIX) today announced that it has entered into an exclusive collaboration and licensing agreement for the development and commercialization of its VMAT2 inhibitor, NBI-98854, in Japan and other select Asian markets with Mitsubishi Tanabe Pharma Corporation (TSE: 4508). Mitsubishi Tanabe intends to initially develop NBI-98854 in Japan for the chorea associated with Huntington's disease and tardive dyskinesia. Neurocrine retains full commercial rights to NBI-98854 in North America, Europe and other countries outside of Asia.
Under the terms of the agreement, Neurocrine will receive an initial payment of $30 million and is eligible to receive up to $85 million in additional milestone payments associated with the development and commercialization of NBI-98854 in Asia. Upon commercialization, Neurocrine will receive royalties on product sales from Mitsubishi Tanabe territories in Asia. Neurocrine will also support Mitsubishi Tanabe's clinical efforts in developing NBI-98854 for patients suffering from the chorea associated with Huntington's disease and tardive dyskinesia.
"We are excited to have one of the leading pharmaceutical companies in Japan as our commercialization partner for NBI-98854 in Asia. Importantly, Mitsubishi Tanabe has a proven track record of developing innovative pharmaceuticals, which we believe will optimize NBI-98854's full potential in the growing Asian movement disorders market," said Kevin Gorman, President and Chief Executive Officer of Neurocrine Biosciences. "We have recently initiated the build of our North American commercial infrastructure and the signing of this international partnership meaningfully extends that commercial reach. Additionally,
It is not like it wasn't expected and broadcasted at prior conferences. So I don't think the announcement is that significant and some might say the announcement is late (weren't they supposed to start in September?).
I used to post on this board a liltle while back and held a ton of shares. Back when it was in the 30s and down when it was in the 12s. No telling if I'm up or down at this point. now I mostly lurk. I just trade it now with a few thousands shares. I'm buying some after hours. Down 7% seems a bit much to me after this kind of report, but I've been wrong before. GLTA.
Not dead money. The run up to Endo results in 4th quarter will be nice. I would not be surprised to see $18 to $20 before results are announced, if not higher. Biotech and the overall market in general can obviously affect it, but the anticipation for Endo results will be great.
doc, it depends on what happens to Elagolix for Fibroids and Endo in July to September this year. If either of those fail, you will see low teens and more likely, single digits. If both are successful, $30+ will come fairly easily IMO. In the near term, I anticipate we will see $20 to $25 leading up to those results (much like the massive run up to VMAT phase II results in September). Phase III results for VMAT is probably a year away, at least.