Neurocrine Biosciences Inc (NASDAQ:NBIX) Q3 2019 Earnings Conference Call Transcript

Nov 04, 2019 • 04:30 pm ET

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Neurocrine Biosciences Inc (NASDAQ:NBIX) Q3 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good day, everyone and welcome to the Neurocrine Biosciences Third Quarter 2019 Results Call. At this time, all participants are in a listen-only mode. [Operator Instructions]

It is now my pleasure to turn today's conference over to the CEO of Neurocrine Biosciences, Kevin Gorman.

Executive
Kevin C. Gorman

Thank you, and welcome everyone to our earnings call. So again, I am joined by Matt Abernethy our CFO; Eiry Roberts, our CMO; Eric Benevich, our CCO; Kyle Gano, our Chief Business Development and Strategy Officer; and Todd Tushla, the Head of HR. Todd, could you...

Executive
Todd Tushla

IR.

Executive
Kevin C. Gorman

IR, I'm sorry. Todd, could you please read our safe harbor statement.

Executive
Todd Tushla

Yes, good afternoon, everybody. Certain statements made in the course of this conference call that are not historical statements may be forward-looking statements, which are subject to risks and uncertainties. Information concerning factors that could cause actual results to differ materially from those contained in or implied by the forward-looking statements is contained in the Company's SEC filings, including but not limited to the Company's third quarter 2019 Form 10-Q filed today, and in today's press release. Copies may be obtained by visiting the Investor Relations page on the Company's website. Any forward-looking statements are made only as of today's date, and we disclaim any obligation to update these forward-looking statements.

Kevin?

Executive
Kevin C. Gorman

Thanks, Todd. As I said, we've had yet another record number of new patients initiated treatment with INGREZZA. This is through the skill and the diligence of our Neurocrine colleagues in the field addressing healthcare providers, allowing them to be more skilled in recognizing abnormal involuntary movements among their patients and actually more confident in diagnosing those with tardive dyskinesia.

I keep saying that there is a lot more work to be done here as the vast majority of TD suffers remain undiagnosed and untreated. We'll continue our focus on educational programs, both in the physicians' office and the presentations at medical conferences, and to grow awareness of TD through our Talk About TD campaign.

Now, going into a little more detail with the INGREZZA results this quarter, I know we've talked about seasonality quite a bit in the past, we've said that medications for this patient population experienced challenges headwinds in Q3, but we haven't been able to accurately predict what those will be for INGREZZA this quarter -- this past quarter, and that was because in last year's Q3, we were going through a sales force expansion.

Now, this year was our first experience of Q3 where we could observe seasonality without any known confounding variables and while there was a seasonal impact, it was relatively small. Now, this experience of going through this Q3, it adds one more piece to the puzzle of our understanding of this patient population, the healthcare providers and the payer dynamic. And Matt, Eric and the rest of the team, if you care to speak about this more can go into this in further in the Q&A portion of the call.

In addition to the outstanding results with