Neurocrine Biosciences Shares Popped: What You Need to Know (NBIX)

Neurocrine Biosciences Shares Popped: What You Need to Know

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of drug developer Neurocrine Biosciences (Nasdaq: NBIX ) jumped as much as 13% in intraday trading on heavier-than-average volume.

So what: The preliminary results are in from Neurocrine's Phase IIa study on its treatment for Tardive Dyskinesia and they look good. Tardive Dyskinesia is a disorder characterized by involuntary movement and often stems from long-term use of certain schizophrenia treatments. Using the Abnormal Involuntary Movement Scale, the study showed an overall 41.3% decrease in the involuntary movements among the treated group. The company is now initiating an Investigational New Drug application with the Food and Drug Administration.

Now what: For investors in drug developers, these positive milestones are always good news. Neurocrine scored some upfront cash from its partnership with Abbott (NYSE: ABT ) last summer, but like most drug developers, losses and cash burn are a typical feature of Neurocrine's financial reports, so getting its drug candidates to the finish line as quickly and efficiently as possible is a priority.

Want to keep up to date on these stocks? Add Neurocrine Biosciences and Abbott Labs to your watchlist.

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