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Here's Why Neurocrine (NBIX) Stock is Soaring 24% Today
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Neurocrine Biosciences (NBIX - Free Report) , a San Diego based biotechnology company, is soaring today on FDA approval of their drug INGREZZA (valbenazine). As of 1:40 PM EST, Neurocrine is trading up 24.06% to $51.46 a share.
INGREZZA treats patients who suffer from tardive dyskinesia (TD). A neurological disorder, TD causes involuntary movements of the body mostly seen in the tongue, lips, jaw and extremities such as fingers and toes. TD develops from overuse of antipsychotic drugs which treat mental disorders such as depression and schizophrenia.
This is a common problem in the United States, as about 500,000 people experience TD. Until now, there was no drug to address the long-term effects of the disease. In the market, there were only generic drugs which did not effectively treat or cure its symptoms.
Now, clinical trials of INGREZZA on over 1,000 patients show incredible improvements within six weeks of taking the drug. It has taken Neurocrine over ten years to develop INGREZZA, and it will be distributed as early as next week; promotions of the drug will begin on May 1.
INGREZZA will sell at a competitive price point. Neurocrine stated last year that INGREZZA will list at a net price of, depending on the dosage, $20,000 to $60,000 per year.
Analysts averages on Wall Street show that Neurocrine will annually sell around $700 million of INGREZZA by 2023. Clearly there is incredible upside for the bio-tech company if they can efficiently distribute their product.
"A treatment for tardive dyskinesia is a welcome and exciting step in the continued effort to destigmatize mental health conditions. With an FDA approved treatment now available, individuals and doctors can have more productive and proactive conversations about TD” said Paul Gionfriddo, the President and CEO of Mental Health America.
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Here's Why Neurocrine (NBIX) Stock is Soaring 24% Today
Neurocrine Biosciences (NBIX - Free Report) , a San Diego based biotechnology company, is soaring today on FDA approval of their drug INGREZZA (valbenazine). As of 1:40 PM EST, Neurocrine is trading up 24.06% to $51.46 a share.
INGREZZA treats patients who suffer from tardive dyskinesia (TD). A neurological disorder, TD causes involuntary movements of the body mostly seen in the tongue, lips, jaw and extremities such as fingers and toes. TD develops from overuse of antipsychotic drugs which treat mental disorders such as depression and schizophrenia.
This is a common problem in the United States, as about 500,000 people experience TD. Until now, there was no drug to address the long-term effects of the disease. In the market, there were only generic drugs which did not effectively treat or cure its symptoms.
Now, clinical trials of INGREZZA on over 1,000 patients show incredible improvements within six weeks of taking the drug. It has taken Neurocrine over ten years to develop INGREZZA, and it will be distributed as early as next week; promotions of the drug will begin on May 1.
INGREZZA will sell at a competitive price point. Neurocrine stated last year that INGREZZA will list at a net price of, depending on the dosage, $20,000 to $60,000 per year.
Analysts averages on Wall Street show that Neurocrine will annually sell around $700 million of INGREZZA by 2023. Clearly there is incredible upside for the bio-tech company if they can efficiently distribute their product.
"A treatment for tardive dyskinesia is a welcome and exciting step in the continued effort to destigmatize mental health conditions. With an FDA approved treatment now available, individuals and doctors can have more productive and proactive conversations about TD” said Paul Gionfriddo, the President and CEO of Mental Health America.
Looking for Ideas with Even Greater Upside?
Most of Zacks’ investment ideas are short-term, directly based on our proven 1 to 3 month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more. Click here for a peek at this private information>>