10-Q Filing

NEUROCRINE BIOSCIENCES INC CIK: 914475 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001564590-19-013745`
Period End Date	20190331
Filing Date	20190429
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	nbix-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 33 Cash Flow Statement 56 Stockholders Equity 17

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$141.71M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$72.78M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Short-term investments, available for sale	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$451.29M	USD	Point-in-time
Short-term investments, available for sale	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$509.20M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$56.24M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$71.96M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$10.86M	USD	Point-in-time
Inventory	`InventoryNet`	$13.01M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	220.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	220.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	91.28M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	90.80M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$19.76M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$24.15M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	91.28M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	90.80M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$737.78M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$633.19M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$5.48M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$5.48M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$36.66M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$33.87M	USD	Point-in-time
Long-term investments, available for sale	`AvailableForSaleSecuritiesNoncurrent`	$176.69M	USD	Point-in-time
Long-term investments, available for sale	`AvailableForSaleSecuritiesNoncurrent`	$216.03M	USD	Point-in-time
Investment in restricted equity securities	`EquitySecuritiesFvNiRestricted`	$56.40M	USD	Point-in-time
Investment in restricted equity securities	`EquitySecuritiesFvNiRestricted`	-	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$49.30M	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Total assets	`Assets`	$993.15M	USD	Point-in-time
Total assets	`Assets`	$957.72M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$68.28M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$86.38M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.86M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$3.72M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$88.23M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$72.00M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$67.15M	USD	Point-in-time
Convertible senior notes	`ConvertibleDebtNoncurrent`	$393.44M	USD	Point-in-time
Convertible senior notes	`ConvertibleDebtNoncurrent`	$388.50M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$10.23M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$15.86M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	-	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$18.11M	USD	Point-in-time
Deferred gain on sale of real estate	`DeferredGainOnSaleOfRealEstateNoncurrent`	-	USD	Point-in-time
Deferred gain on sale of real estate	`DeferredGainOnSaleOfRealEstateNoncurrent`	$7.31M	USD	Point-in-time
Total liabilities	`Liabilities`	$512.39M	USD	Point-in-time
Total liabilities	`Liabilities`	$548.45M	USD	Point-in-time
Preferred stock, $0.001 par value; 5,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 5,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 220,000 shares authorized; issued and outstanding shares were 91,284 as of March 31, 2019 and 90,797 as of December 31, 2018	`CommonStockValue`	$91.00K	USD	Point-in-time
Common stock, $0.001 par value; 220,000 shares authorized; issued and outstanding shares were 91,284 as of March 31, 2019 and 90,797 as of December 31, 2018	`CommonStockValue`	$91.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.68B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.66B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-233.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.93M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.18B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.27B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$409.27M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$480.76M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$364.49M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$372.14M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$993.15M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$957.72M	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$71.09M	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$138.40M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$1.13M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$950.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$48.95M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$37.65M	USD	1 Quarter
Acquired in-process research and development	`ResearchAndDevelopmentInProcess`	$113.08M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$58.64M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$87.54M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$108.53M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$239.40M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-37.45M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-101.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$7.85M	USD	1 Quarter
Interest expense	`InterestExpense`	$7.50M	USD	1 Quarter
Unrealized gain on investment in restricted equity securities	`UnrealizedGainLossOnInvestmentInRestrictedEquitySecurities`	$1.68M	USD	1 Quarter
Investment income and other, net	`InvestmentIncomeAndOtherNet`	$3.13M	USD	1 Quarter
Investment income and other, net	`InvestmentIncomeAndOtherNet`	$4.58M	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-4.37M	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-1.60M	USD	1 Quarter
Loss before benefit from income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-102.59M	USD	1 Quarter
Loss before benefit from income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-41.82M	USD	1 Quarter
Benefit from income taxes	`IncomeTaxExpenseBenefit`	$-479.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-102.11M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-41.82M	USD	1 Quarter
Unrealized gain (loss) on available-for-sale securities, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-1.85M	USD	1 Quarter
Unrealized gain (loss) on available-for-sale securities, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$1.70M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-43.66M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-100.42M	USD	1 Quarter
Net loss per share, basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-1.12	USD	1 Quarter
Net loss per share, basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.47	USD	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	89.53M	shares	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	91.06M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-102.11M	USD	1 Quarter
Net loss	`ProfitLoss`	$-41.82M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$786.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.57M	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$4.60M	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$4.26M	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$341.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$326.00K	USD	1 Quarter
(Accretion) amortization of discounts/premiums on investments, net	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-512.00K	USD	1 Quarter
(Accretion) amortization of discounts/premiums on investments, net	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$290.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$19.88M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$15.76M	USD	1 Quarter
Change in fair value of investment in restricted equity securities	`ChangeInFairValueOfRestrictedInvestmentInEquitySecurities`	-	USD	1 Quarter
Change in fair value of investment in restricted equity securities	`ChangeInFairValueOfRestrictedInvestmentInEquitySecurities`	$1.68M	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$116.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$-229.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$15.72M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$13.50M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$309.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$1.75M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$2.11M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$441.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-7.87M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-16.57M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-90.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$5.36M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-38.49M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-112.49M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$139.35M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$116.31M	USD	1 Quarter
Sales and maturities of investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$215.94M	USD	1 Quarter
Sales and maturities of investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$84.09M	USD	1 Quarter
Investment in equity securities	`PaymentsForInvestmentInEquitySecurities`	$54.72M	USD	1 Quarter
Investment in equity securities	`PaymentsForInvestmentInEquitySecurities`	-	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.80M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.94M	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$4.00K	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$18.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$40.97M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-57.05M	USD	1 Quarter
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$16.14M	USD	1 Quarter
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$2.58M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$16.14M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.58M	USD	1 Quarter
Change in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-68.94M	USD	1 Quarter
Change in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-79.40M	USD	1 Quarter
Cash and cash equivalents and restricted cash at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$259.21M	USD	Point-in-time
Cash and cash equivalents and restricted cash at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$78.25M	USD	Point-in-time
Cash and cash equivalents and restricted cash at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$179.81M	USD	Point-in-time
Cash and cash equivalents and restricted cash at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$147.19M	USD	Point-in-time
Cash and cash equivalents and restricted cash at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$259.21M	USD	Point-in-time
Cash and cash equivalents and restricted cash at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$78.25M	USD	Point-in-time
Cash and cash equivalents and restricted cash at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$179.81M	USD	Point-in-time
Cash and cash equivalents and restricted cash at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$147.19M	USD	Point-in-time
Non-cash capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	-	USD	1 Quarter
Non-cash capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$615.00K	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Begining balance	`StockholdersEquity`	$409.27M	USD	Point-in-time
Begining balance	`StockholdersEquity`	$480.76M	USD	Point-in-time
Begining balance	`StockholdersEquity`	$364.49M	USD	Point-in-time
Begining balance	`StockholdersEquity`	$372.14M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-102.11M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-41.82M	USD	1 Quarter
Unrealized gain (loss) on available-for-sale investments, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$1.70M	USD	1 Quarter
Unrealized gain (loss) on available-for-sale investments, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-1.85M	USD	1 Quarter
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$19.88M	USD	1 Quarter
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$15.76M	USD	1 Quarter
Issuance of common stock for stock option exercises	`StockIssuedDuringPeriodValueStockOptionsExercised`	$2.58M	USD	1 Quarter
Issuance of common stock for stock option exercises	`StockIssuedDuringPeriodValueStockOptionsExercised`	$16.14M	USD	1 Quarter
Issuance of common stock for employee stock purchase plan	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$2.54M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$409.27M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$480.76M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$364.49M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$372.14M	USD	Point-in-time

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