10-Q Filing

NEUROCRINE BIOSCIENCES INC CIK: 914475 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0000914475-21-000036`
Period End Date	20210331
Filing Date	20210505
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	nbix-20210331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 38 Cash Flow Statement 54 Stockholders Equity 16

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Amortized cost, current	`DebtSecuritiesAvailableForSaleAmortizedCostCurrent`	$612.40M	USD	Point-in-time
Amortized cost, current	`DebtSecuritiesAvailableForSaleAmortizedCostCurrent`	$520.20M	USD	Point-in-time
Amortized cost, noncurrent	`DebtSecuritiesAvailableForSaleAmortizedCostNoncurrent`	$249.60M	USD	Point-in-time
Amortized cost, noncurrent	`DebtSecuritiesAvailableForSaleAmortizedCostNoncurrent`	$226.70M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$187.10M	USD	Point-in-time
Preferred stock, par value (in USD per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in USD per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$352.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$187.00M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Debt securities available-for-sale, at fair value (amortized cost $520.2 million at March 31, 2021 and $612.4 million at December 31, 2020)	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$613.90M	USD	Point-in-time
Debt securities available-for-sale, at fair value (amortized cost $520.2 million at March 31, 2021 and $612.4 million at December 31, 2020)	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$521.10M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$157.10M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$147.80M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$28.00M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$30.10M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$33.80M	USD	Point-in-time
Common stock, par value (in USD per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$30.10M	USD	Point-in-time
Common stock, par value (in USD per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.02B	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	220.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	220.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.09B	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$325.60M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	94.50M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	93.50M	shares	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$319.40M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	94.50M	shares	Point-in-time
Debt securities available-for-sale, at fair value (amortized cost $249.6 million at March 31, 2021 and $226.7 million at December 31, 2020)	`AvailableForSaleSecuritiesDebtSecuritiesNoncurrent`	$249.60M	USD	Point-in-time
Debt securities available-for-sale, at fair value (amortized cost $249.6 million at March 31, 2021 and $226.7 million at December 31, 2020)	`AvailableForSaleSecuritiesDebtSecuritiesNoncurrent`	$227.10M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	93.50M	shares	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$97.00M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$82.80M	USD	Point-in-time
Equity securities	`EquitySecuritiesFvNiRestricted`	$38.90M	USD	Point-in-time
Equity securities	`EquitySecuritiesFvNiRestricted`	$38.20M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$44.60M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$45.30M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$3.20M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$3.20M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$3.20M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$3.20M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$1.40M	USD	Point-in-time
Total assets	`Assets`	$1.85B	USD	Point-in-time
Total assets	`Assets`	$1.73B	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$171.90M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$168.70M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$18.10M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$17.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$186.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$190.00M	USD	Point-in-time
Convertible senior notes	`ConvertibleDebtNoncurrent`	$322.00M	USD	Point-in-time
Convertible senior notes	`ConvertibleDebtNoncurrent`	$317.90M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$107.50M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$94.40M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$9.70M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$21.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$608.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$640.80M	USD	Point-in-time
Preferred stock, $0.001 par value; 5.0 shares authorized; no shares issued and outstanding at March 31, 2021 and December 31, 2020	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 5.0 shares authorized; no shares issued and outstanding at March 31, 2021 and December 31, 2020	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 220.0 shares authorized; issued and outstanding shares were 94.5 at March 31, 2021 and 93.5 at December 31, 2020	`CommonStockValue`	$100.00K	USD	Point-in-time
Common stock, $0.001 par value; 220.0 shares authorized; issued and outstanding shares were 94.5 at March 31, 2021 and 93.5 at December 31, 2020	`CommonStockValue`	$100.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.90B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.85B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.00M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.80M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-725.40M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-693.30M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.13B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$636.90M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.21B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$700.30M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.85B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.73B	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$237.10M	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$236.60M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$2.90M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$2.10M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$73.20M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$58.30M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$117.80M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$129.00M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$178.20M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$205.10M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$58.90M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$31.50M	USD	1 Quarter
Interest expense	`InterestExpense`	$6.40M	USD	1 Quarter
Interest expense	`InterestExpense`	$8.20M	USD	1 Quarter
Unrealized gain (loss) on restricted equity securities	`EquitySecuritiesFvNiUnrealizedGainLoss`	$-16.50M	USD	1 Quarter
Unrealized gain (loss) on restricted equity securities	`EquitySecuritiesFvNiUnrealizedGainLoss`	$700.00K	USD	1 Quarter
Investment income and other, net	`InvestmentIncomeAndOtherNet`	$1.40M	USD	1 Quarter
Investment income and other, net	`InvestmentIncomeAndOtherNet`	$4.70M	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-20.00M	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-4.30M	USD	1 Quarter
Income before (benefit from) provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$27.20M	USD	1 Quarter
Income before (benefit from) provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$38.90M	USD	1 Quarter
(Benefit from) provision for income taxes	`IncomeTaxExpenseBenefit`	$1.50M	USD	1 Quarter
(Benefit from) provision for income taxes	`IncomeTaxExpenseBenefit`	$-4.90M	USD	1 Quarter
Net income	`NetIncomeLoss`	$32.10M	USD	1 Quarter
Net income	`NetIncomeLoss`	$37.40M	USD	1 Quarter
Unrealized loss on debt securities available-for-sale, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-800.00K	USD	1 Quarter
Unrealized loss on debt securities available-for-sale, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-2.80M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$34.60M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$31.30M	USD	1 Quarter
Net income per share, basic (in USD per share)	`EarningsPerShareBasic`	$0.34	USD	1 Quarter
Net income per share, basic (in USD per share)	`EarningsPerShareBasic`	$0.40	USD	1 Quarter
Net income per share, diluted (in USD per share)	`EarningsPerShareDiluted`	$0.39	USD	1 Quarter
Net income per share, diluted (in USD per share)	`EarningsPerShareDiluted`	$0.33	USD	1 Quarter
Weighted average common shares outstanding, basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	92.60M	shares	1 Quarter
Weighted average common shares outstanding, basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	94.20M	shares	1 Quarter
Weighted average common shares outstanding, diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	97.00M	shares	1 Quarter
Weighted average common shares outstanding, diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	98.20M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$32.10M	USD	1 Quarter
Net income	`NetIncomeLoss`	$37.40M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$32.90M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$22.80M	USD	1 Quarter
Depreciation	`Depreciation`	$2.50M	USD	1 Quarter
Depreciation	`Depreciation`	$2.10M	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$5.00M	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$3.90M	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$300.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$300.00K	USD	1 Quarter
Change in fair value of equity security investments	`EquitySecuritiesFvNiUnrealizedGainLoss`	$-16.50M	USD	1 Quarter
Change in fair value of equity security investments	`EquitySecuritiesFvNiUnrealizedGainLoss`	$700.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	-	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-6.20M	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$2.60M	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$400.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-9.30M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$22.10M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$3.90M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.10M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-16.20M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$11.00M	USD	1 Quarter
Other assets and liabilities, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$6.80M	USD	1 Quarter
Other assets and liabilities, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-1.70M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$35.50M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$87.30M	USD	1 Quarter
Purchases of debt securities available-for-sale	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$93.70M	USD	1 Quarter
Purchases of debt securities available-for-sale	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$172.00M	USD	1 Quarter
Sales and maturities of debt securities available-for-sale	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$161.30M	USD	1 Quarter
Sales and maturities of debt securities available-for-sale	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$206.50M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.30M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.50M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$33.20M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$63.10M	USD	1 Quarter
Issuances of common stock under benefit plans	`ProceedsFromIssuanceOfCommonStock`	$15.20M	USD	1 Quarter
Issuances of common stock under benefit plans	`ProceedsFromIssuanceOfCommonStock`	$6.00M	USD	1 Quarter
Partial repurchase of convertible senior notes	`RepaymentsOfConvertibleDebt`	-	USD	1 Quarter
Partial repurchase of convertible senior notes	`RepaymentsOfConvertibleDebt`	$100.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.10M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.00M	USD	1 Quarter
Change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$165.50M	USD	1 Quarter
Change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$74.70M	USD	1 Quarter
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$115.50M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$190.30M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$190.20M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$355.80M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$115.50M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$190.30M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$190.20M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$355.80M	USD	Point-in-time
Non-cash capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$100.00K	USD	1 Quarter
Non-cash capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$800.00K	USD	1 Quarter
Right-of-use assets acquired through operating leases	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	-	USD	1 Quarter
Right-of-use assets acquired through operating leases	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$16.00M	USD	1 Quarter

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$1.13B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$636.90M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$1.21B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$700.30M	USD	Point-in-time
Net income	`NetIncomeLoss`	$32.10M	USD	1 Quarter
Net income	`NetIncomeLoss`	$37.40M	USD	1 Quarter
Unrealized loss on debt securities available-for-sale, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-800.00K	USD	1 Quarter
Unrealized loss on debt securities available-for-sale, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-2.80M	USD	1 Quarter
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$32.90M	USD	1 Quarter
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$22.80M	USD	1 Quarter
Issuances of common stock under stock plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$15.20M	USD	1 Quarter
Issuances of common stock under stock plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$6.00M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$1.13B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$636.90M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$1.21B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$700.30M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.