SAN DIEGO - Neurocrine (NASDAQ:NBIX) Biosciences, Inc. (NASDAQ:NBIX), a neuroscience-focused biopharmaceutical company, announced today the commencement of a Phase 1 clinical study for its new investigational compound, NBI-1065890. The study aims to assess the safety, tolerability, pharmacokinetics, and pharmacodynamics of the compound in healthy adult participants.
NBI-1065890 is an oral selective inhibitor of the vesicular monoamine transporter-2 (VMAT2), a protein critical in the regulation of neurotransmitter release from synaptic vesicles. This compound is being developed for potential use in the treatment of various neurological and neuropsychiatric conditions.
Neurocrine Biosciences has previously demonstrated its capability in this area with the successful development of valbenazine, another selective VMAT2 inhibitor, which gained FDA approval in 2017 for the treatment of tardive dyskinesia. Valbenazine was also approved in 2023 for treating chorea associated with Huntington's disease.
The initiation of this Phase 1 trial represents Neurocrine's continued investment in the development of treatments for disorders with unmet medical needs. "We're excited to bring this next-generation, internally discovered, highly potent, oral, selective VMAT2 inhibitor into the clinic," said Eiry W. Roberts, M.D., Chief Medical Officer at Neurocrine Biosciences.
The company has a history of focusing on neurological, neuroendocrine, and neuropsychiatric disorders, with a portfolio that includes FDA-approved treatments for tardive dyskinesia, chorea in Huntington's disease, endometriosis, and uterine fibroids, in addition to multiple compounds in various stages of clinical development.
The information in this article is based on a press release statement from Neurocrine Biosciences.
InvestingPro Insights
As Neurocrine Biosciences (NASDAQ:NBIX) forges ahead with its latest clinical trial, the company's financial health and market performance offer additional insights. With a robust market capitalization of $13.72 billion, Neurocrine stands as a significant player in the biopharmaceutical landscape. The company's commitment to innovation and development of new treatments is mirrored in its financial metrics, with a notable revenue growth of 26.76% over the last twelve months as of Q1 2023. This growth signals strong potential for the company's future, especially as it expands its portfolio with new compounds like NBI-1065890.
Two InvestingPro Tips that are particularly pertinent to Neurocrine's current situation include the expectation of net income growth this year and the company trading at a low P/E ratio relative to near-term earnings growth. These indicators suggest that investors may find value in Neurocrine's stock, as the company not only shows promise of increased profitability but also seems to be undervalued when considering its earnings potential. Moreover, with a P/E ratio (adjusted for the last twelve months as of Q4 2023) of 40.23 and a PEG ratio of 0.95, the company's stock appears to be priced attractively in relation to its earnings growth rate.
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