10-Q Filing

NEUROCRINE BIOSCIENCES INC CIK: 914475 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0000914475-23-000044`
Period End Date	20230331
Filing Date	20230503
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	nbix-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 42 Cash Flow Statement 54 Stockholders Equity 16

Balance Sheet 77 line items

Line Item	Tag	Value	Unit	Period
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
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
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$103.80M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$262.90M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$270.20M	USD	Point-in-time
Debt securities available-for-sale	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$790.80M	USD	Point-in-time
Debt securities available-for-sale	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$726.40M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value (in USD per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$391.60M	USD	Point-in-time
Common stock, par value (in USD per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$350.00M	USD	Point-in-time
Inventories	`InventoryNet`	$35.10M	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
Inventories	`InventoryNet`	$33.40M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	97.50M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	96.50M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$79.10M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$113.20M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.43B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.45B	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	97.50M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	96.50M	shares	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$337.40M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$305.90M	USD	Point-in-time
Debt securities available-for-sale	`AvailableForSaleSecuritiesDebtSecuritiesNoncurrent`	$299.40M	USD	Point-in-time
Debt securities available-for-sale	`AvailableForSaleSecuritiesDebtSecuritiesNoncurrent`	$244.60M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$84.40M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$87.00M	USD	Point-in-time
Equity security investments	`EquitySecuritiesFvNiCurrentAndNoncurrent`	$135.70M	USD	Point-in-time
Equity security investments	`EquitySecuritiesFvNiCurrentAndNoncurrent`	$102.10M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$62.80M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$58.60M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$37.20M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$37.20M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$25.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$24.90M	USD	Point-in-time
Total assets	`Assets`	$2.36B	USD	Point-in-time
Total assets	`Assets`	$2.37B	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$355.70M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$347.60M	USD	Point-in-time
Convertible senior notes	`ConvertibleDebtCurrent`	-	USD	Point-in-time
Convertible senior notes	`ConvertibleDebtCurrent`	$169.40M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$20.70M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$18.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$537.70M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$374.10M	USD	Point-in-time
Convertible senior notes	`ConvertibleDebtNoncurrent`	$169.50M	USD	Point-in-time
Convertible senior notes	`ConvertibleDebtNoncurrent`	-	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$90.40M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$93.50M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$41.30M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$29.70M	USD	Point-in-time
Total liabilities	`Liabilities`	$675.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$660.90M	USD	Point-in-time
Preferred stock, $0.001 par value; 5.0 million shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 5.0 million shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 220.0 million shares authorized; 97.5 million and 96.5 million shares issued and outstanding, respectively	`CommonStockValue`	$100.00K	USD	Point-in-time
Common stock, $0.001 par value; 220.0 million shares authorized; 97.5 million and 96.5 million shares issued and outstanding, respectively	`CommonStockValue`	$100.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.17B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.12B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.70M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-7.90M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-406.80M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-483.40M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.68B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.39B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.71B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.37B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$2.36B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$2.37B	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$310.60M	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$420.40M	USD	1 Quarter
Cost of revenues	`CostOfGoodsAndServicesSold`	$8.50M	USD	1 Quarter
Cost of revenues	`CostOfGoodsAndServicesSold`	$4.60M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$102.20M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$139.50M	USD	1 Quarter
Acquired in-process research and development	`ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOff`	-	USD	1 Quarter
Acquired in-process research and development	`ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOff`	$143.90M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$200.70M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$242.70M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$534.60M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$307.50M	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$3.10M	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$-114.20M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.10M	USD	1 Quarter
Interest expense	`InterestExpense`	$2.60M	USD	1 Quarter
Unrealized gain on equity security investments	`EquitySecuritiesFvNiUnrealizedGainLoss`	$19.90M	USD	1 Quarter
Unrealized gain on equity security investments	`EquitySecuritiesFvNiUnrealizedGainLoss`	$2.20M	USD	1 Quarter
Investment income and other, net	`InvestmentIncomeAndOtherNet`	$9.80M	USD	1 Quarter
Investment income and other, net	`InvestmentIncomeAndOtherNet`	$1.00M	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$18.30M	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$10.90M	USD	1 Quarter
(Loss) income before (benefit from) provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$21.40M	USD	1 Quarter
(Loss) income before (benefit from) provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-103.30M	USD	1 Quarter
(Benefit from) provision for income taxes	`IncomeTaxExpenseBenefit`	$-26.70M	USD	1 Quarter
(Benefit from) provision for income taxes	`IncomeTaxExpenseBenefit`	$7.50M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-76.60M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$13.90M	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent`	-	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent`	$-1.20M	USD	1 Quarter
Unrealized gain (loss) on debt securities available-for-sale, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-7.60M	USD	1 Quarter
Unrealized gain (loss) on debt securities available-for-sale, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$4.00M	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$6.30M	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-71.40M	USD	1 Quarter
Basic (in USD per share)	`EarningsPerShareBasic`	$-0.79	USD	1 Quarter
Basic (in USD per share)	`EarningsPerShareBasic`	$0.15	USD	1 Quarter
Diluted (in USD per share)	`EarningsPerShareDiluted`	$-0.79	USD	1 Quarter
Diluted (in USD per share)	`EarningsPerShareDiluted`	$0.14	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	95.30M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	97.10M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	97.60M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	97.10M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$-76.60M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$13.90M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$39.90M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$37.00M	USD	1 Quarter
Depreciation	`Depreciation`	$3.30M	USD	1 Quarter
Depreciation	`Depreciation`	$4.10M	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$400.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$200.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$900.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	-	USD	1 Quarter
Changes in fair value of equity security investments	`EquitySecuritiesFvNiUnrealizedGainLoss`	$19.90M	USD	1 Quarter
Changes in fair value of equity security investments	`EquitySecuritiesFvNiUnrealizedGainLoss`	$2.20M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-31.60M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-300.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$-2.40M	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$800.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$78.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$41.70M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.50M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.80M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$11.50M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$6.70M	USD	1 Quarter
Other assets and liabilities, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$24.30M	USD	1 Quarter
Other assets and liabilities, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$10.70M	USD	1 Quarter
Cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-40.50M	USD	1 Quarter
Cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-125.20M	USD	1 Quarter
Purchases of debt securities available-for-sale	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$192.80M	USD	1 Quarter
Purchases of debt securities available-for-sale	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$206.20M	USD	1 Quarter
Sales and maturities of debt securities available-for-sale	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$176.50M	USD	1 Quarter
Sales and maturities of debt securities available-for-sale	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$203.90M	USD	1 Quarter
Purchases of equity security investments	`PaymentsToAcquireEquitySecuritiesFvNi`	$31.30M	USD	1 Quarter
Purchases of equity security investments	`PaymentsToAcquireEquitySecuritiesFvNi`	$7.70M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.60M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.50M	USD	1 Quarter
Cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-31.60M	USD	1 Quarter
Cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-42.10M	USD	1 Quarter
Issuances of common stock under benefit plans	`ProceedsFromIssuanceOfCommonStock`	$6.10M	USD	1 Quarter
Issuances of common stock under benefit plans	`ProceedsFromIssuanceOfCommonStock`	$8.20M	USD	1 Quarter
Cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.20M	USD	1 Quarter
Cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.10M	USD	1 Quarter
Change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-66.00M	USD	1 Quarter
Change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-159.10M	USD	1 Quarter
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$278.00M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$111.60M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$344.00M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$270.70M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$278.00M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$111.60M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$344.00M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$270.70M	USD	Point-in-time
Non-cash capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$600.00K	USD	1 Quarter
Non-cash capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$2.80M	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$200.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$1.68B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$1.39B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$1.71B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$1.37B	USD	Point-in-time
Net (loss) income	`NetIncomeLoss`	$-76.60M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$13.90M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-7.60M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$5.20M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$39.90M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$37.00M	USD	1 Quarter
Issuances of common stock under stock plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$8.20M	USD	1 Quarter
Issuances of common stock under stock plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$6.10M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$1.68B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$1.39B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$1.71B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$1.37B	USD	Point-in-time

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