Why Neurocrine Biosciences Soared 50.5% in 2019
After shares lost ground following a clinical trial failure in Tourette syndrome in December 2018, Neurocrine Biosciences (NASDAQ: NBIX) bounced back in 2019 with an eye-popping 50.5% return, according to S&P Global Market Intelligence.
The biotech's market-beating performance was supported by growing sales of Neurocrine's lead drug, Ingrezza; the filing for approval by the Food and Drug Administration for a new drug, opicapone, in Parkinson's disease; and the potential for an FDA label expansion for Orilissa, an endometriosis medicine.
Neurocrine Biosciences had hoped it could expand Ingrezza's use beyond tardive dyskinesia -- a movement disorder often occurring in patients taking antipsychotic medicines -- to Tourette syndrome. However, management announced in December 2018 that Ingrezza had failed in that indication, contributing to a 42% drop in its share price during the fourth quarter of 2018.
Source Fool.com