Neurocrine falls as investors question schizophrenia drug's trial data

Neurocrine Biosciences

28/08/2024 14:12

** Shares of drugmaker Neurocrine Biosciences  NBIX.O  fall
15.5% to $128.9 premarket
    ** Co says during a mid-stage trial, the lowest 20-milligram
dose of its schizophrenia drug NBI-1117568 achieved a 7.5 points
reduction in a scale used to measure the severity of symptoms,
compared with a placebo
    ** The lowest dose outperformed higher doses of the drug - a
result that prompted investor questions over whether or not the
data could be reproduced in larger trials
    ** The outperformance was "not something that is necessarily
typical in this class - and something that is likely to call
into question the replicability of the results in phase III
(trials)," said RBC Capital analyst Brian Abrahams
    ** Several analysts also compared the trial results to
Bristol Myers Squibb's  BMY.N  schizophrenia drug KarXT
    ** "Results underperform previous 11.6 point reduction seen
by KarXT" - BMO Capital Markets
    ** Up to last close, NBIX stock up 15.8% YTD

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))