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What: Shares of Neurocrine Biosciences
So what: The drug is for tardive dyskinesia, which is a neurological syndrome that can cause involuntary movements, and it did not meet the primary endpoint of the trial. The overall results showed a "non-significant reduction" in the syndrome compared to patients who were treated with a placebo.
Now what: The plot thickens, though, as the company said that one of the eight sites where the testing was performed did not administer the drug properly, and attributed the overall shortfall to this site. Neurocrine said that when excluding this one site, the results showed a "significant reduction" in symptoms at the end of the two weeks of testing. Going forward, the company is planning a 12-week phase 2b study in mid-2012 with top-line data expected by the end of the year.
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Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.