Benzinga -
- Neurocrine Biosciences Inc (NASDAQ:NBIX)'s (NASDAQ: NBIX) NBI-827104 did not meet its primary endpoint in the Phase 2 STEAMBOAT study compared to placebo in pediatric patients with epileptic encephalopathy with continuous spike-and-wave during sleep (EE-CSWS).
- The primary endpoint was a reduction from baseline in the spike-wave index (SWI) ratio when measured after six weeks of study treatment.
- Related: Neurocrine Biosciences Buys UK-Based Hormone Therapy Player.
- The SWI measures the percentage of sleep affected by epileptic activity.
- NBI-827104, an investigational brain-penetrating T-type calcium channel blocker, was generally well tolerated.
- William Blair's Take: Despite this disappointing update, the analyst views Neurocrine as a strong growth performer with significant potential in its growing Ingrezza franchise.
- This miss adds to a slew of recent pipeline misses. Still, William Blair believes there is much to like about specific assets remaining. The analyst reiterates Outperform rating on Neurocrine.
- Price Action: NBIX shares closed 4.54% lower at $114.75 during after-hours trading on Tuesday.
Mar 2022 | Piper Sandler | Downgrades | Overweight | Neutral |
Feb 2022 | Goldman Sachs (NYSE:GS) | Upgrades | Neutral | Buy |
Feb 2022 | Morgan Stanley (NYSE:MS) | Maintains | Equal-Weight |
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