10-Q Filing

NEUROCRINE BIOSCIENCES INC CIK: 914475 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001564590-20-021952`
Period End Date	20200331
Filing Date	20200506
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	nbix-10q_20200331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 Income Statement 39 Cash Flow Statement 49 Stockholders Equity 18

Balance Sheet 75 line items

Line Item	Tag	Value	Unit	Period
Amortized cost, current	`DebtSecuritiesAvailableForSaleAmortizedCostCurrent`	$584.10M	USD	Point-in-time
Amortized cost, current	`DebtSecuritiesAvailableForSaleAmortizedCostCurrent`	$557.30M	USD	Point-in-time
Amortized cost, noncurrent	`DebtSecuritiesAvailableForSaleAmortizedCostNoncurrent`	$299.30M	USD	Point-in-time
Amortized cost, noncurrent	`DebtSecuritiesAvailableForSaleAmortizedCostNoncurrent`	$237.80M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$112.30M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$187.00M	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
Debt securities available-for-sale, at fair value (amortized cost $584.1 million at March 31, 2020 and $557.3 million at December 31, 2019)	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$558.20M	USD	Point-in-time
Debt securities available-for-sale, at fair value (amortized cost $584.1 million at March 31, 2020 and $557.3 million at December 31, 2019)	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$584.70M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$126.60M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$148.60M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$17.30M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$21.20M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$26.70M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$16.60M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	220.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$968.20M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	220.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$831.00M	USD	Point-in-time
Debt securities available-for-sale, at fair value (amortized cost $237.8 million at March 31, 2020 and $299.3 million at December 31, 2019)	`AvailableForSaleSecuritiesDebtSecuritiesNoncurrent`	$235.90M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	92.80M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	92.30M	shares	Point-in-time
Debt securities available-for-sale, at fair value (amortized cost $237.8 million at March 31, 2020 and $299.3 million at December 31, 2019)	`AvailableForSaleSecuritiesDebtSecuritiesNoncurrent`	$299.70M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$73.30M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	92.80M	shares	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$74.30M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	92.30M	shares	Point-in-time
Equity securities	`EquitySecuritiesFvNiRestricted`	$39.40M	USD	Point-in-time
Equity securities	`EquitySecuritiesFvNiRestricted`	$55.90M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$41.90M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$41.90M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$3.20M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$3.20M	USD	Point-in-time
Total assets	`Assets`	$1.36B	USD	Point-in-time
Total assets	`Assets`	$1.31B	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$125.90M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$141.30M	USD	Point-in-time
Convertible senior notes	`ConvertibleDebtCurrent`	$408.80M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$15.20M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$14.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$565.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$140.30M	USD	Point-in-time
Convertible senior notes	`ConvertibleDebtNoncurrent`	$414.10M	USD	Point-in-time
Convertible senior notes	`ConvertibleDebtNoncurrent`	$408.80M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$85.60M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$86.70M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$21.60M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$17.10M	USD	Point-in-time
Total liabilities	`Liabilities`	$669.10M	USD	Point-in-time
Total liabilities	`Liabilities`	$661.60M	USD	Point-in-time
Preferred stock, $0.001 par value; 5.0 shares authorized; no shares issued and outstanding at March 31, 2020 and December 31, 2019	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 5.0 shares authorized; no shares issued and outstanding at March 31, 2020 and December 31, 2019	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 220.0 shares authorized; issued and outstanding shares were 92.8 at March 31, 2020 and 92.3 at December 31, 2019	`CommonStockValue`	$100.00K	USD	Point-in-time
Common stock, $0.001 par value; 220.0 shares authorized; issued and outstanding shares were 92.8 at March 31, 2020 and 92.3 at December 31, 2019	`CommonStockValue`	$100.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.80B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.77B	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.40M	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.40M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.10B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.13B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$480.80M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$409.30M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$700.30M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$636.90M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.31B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.36B	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$237.10M	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$138.40M	USD	1 Quarter
Cost of sales	`CostOfSales`	$2.10M	USD	1 Quarter
Cost of sales	`CostOfSales`	$1.10M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpenseExcludingResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOff`	$58.30M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpenseExcludingResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOff`	$37.70M	USD	1 Quarter
Acquired in-process research and development	`ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOff`	$113.10M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$87.50M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$117.80M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$178.20M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$239.40M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-101.00M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$58.90M	USD	1 Quarter
Interest expense	`InterestExpense`	$8.20M	USD	1 Quarter
Interest expense	`InterestExpense`	$7.90M	USD	1 Quarter
Unrealized losses (gains) on equity securities	`EquitySecuritiesFvNiUnrealizedGainLoss`	$-16.50M	USD	1 Quarter
Unrealized losses (gains) on equity securities	`EquitySecuritiesFvNiUnrealizedGainLoss`	$1.70M	USD	1 Quarter
Investment income and other, net	`InvestmentIncomeAndOtherNet`	$4.70M	USD	1 Quarter
Investment income and other, net	`InvestmentIncomeAndOtherNet`	$4.60M	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-20.00M	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-1.60M	USD	1 Quarter
Income (loss) before provision for (benefit from) income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$38.90M	USD	1 Quarter
Income (loss) before provision for (benefit from) income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-102.60M	USD	1 Quarter
Provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$-500.00K	USD	1 Quarter
Provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$1.50M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-102.10M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$37.40M	USD	1 Quarter
Unrealized (loss) gain on debt securities available-for-sale, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$1.70M	USD	1 Quarter
Unrealized (loss) gain on debt securities available-for-sale, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-2.80M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-100.40M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$34.60M	USD	1 Quarter
Net income (loss) per share, basic	`EarningsPerShareBasic`	$0.40	USD	1 Quarter
Net income (loss) per share, basic	`EarningsPerShareBasic`	$-1.12	USD	1 Quarter
Net income (loss) per share, diluted	`EarningsPerShareDiluted`	$-1.12	USD	1 Quarter
Net income (loss) per share, diluted	`EarningsPerShareDiluted`	$0.39	USD	1 Quarter
Weighted average common shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	91.10M	shares	1 Quarter
Weighted average common shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	92.60M	shares	1 Quarter
Weighted average common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	97.00M	shares	1 Quarter
Weighted average common shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	91.10M	shares	1 Quarter

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-102.10M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$37.40M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$22.80M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$15.80M	USD	1 Quarter
Depreciation	`Depreciation`	$2.10M	USD	1 Quarter
Depreciation	`Depreciation`	$1.60M	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$4.60M	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$5.00M	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`	$1.70M	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$400.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$-200.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$15.70M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$22.10M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$3.90M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$1.80M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-16.60M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-16.20M	USD	1 Quarter
Other current assets and liabilities, net	`IncreaseDecreaseInOtherCurrentAssetsAndLiabilitiesNet`	$4.10M	USD	1 Quarter
Other current assets and liabilities, net	`IncreaseDecreaseInOtherCurrentAssetsAndLiabilitiesNet`	$-3.30M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-112.50M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$38.20M	USD	1 Quarter
Purchases of debt securities available-for-sale	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$172.00M	USD	1 Quarter
Purchases of debt securities available-for-sale	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$116.30M	USD	1 Quarter
Sales and maturities of debt securities available-for-sale	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$215.90M	USD	1 Quarter
Sales and maturities of debt securities available-for-sale	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$206.50M	USD	1 Quarter
Purchases of equity securities	`PaymentsToAcquireRestrictedInvestments`	$54.70M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.30M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.90M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$41.00M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$33.20M	USD	1 Quarter
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$2.60M	USD	1 Quarter
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$3.30M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.60M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.30M	USD	1 Quarter
Change in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$74.70M	USD	1 Quarter
Change in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-68.90M	USD	1 Quarter
Cash and cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$147.20M	USD	Point-in-time
Cash and cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$115.50M	USD	Point-in-time
Cash and cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$78.30M	USD	Point-in-time
Cash and cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$190.20M	USD	Point-in-time
Cash and cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$147.20M	USD	Point-in-time
Cash and cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$115.50M	USD	Point-in-time
Cash and cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$78.30M	USD	Point-in-time
Cash and cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$190.20M	USD	Point-in-time
Non-cash capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$600.00K	USD	1 Quarter
Non-cash capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$800.00K	USD	1 Quarter

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Begining balance	`StockholdersEquity`	$480.80M	USD	Point-in-time
Begining balance	`StockholdersEquity`	$409.30M	USD	Point-in-time
Begining balance	`StockholdersEquity`	$700.30M	USD	Point-in-time
Begining balance	`StockholdersEquity`	$636.90M	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$-102.10M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$37.40M	USD	1 Quarter
Unrealized gain (loss) on debt securities available-for-sale, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$1.70M	USD	1 Quarter
Unrealized gain (loss) on debt securities available-for-sale, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-2.80M	USD	1 Quarter
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$15.80M	USD	1 Quarter
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$22.80M	USD	1 Quarter
Issuance of common stock for stock option exercises	`StockIssuedDuringPeriodValueStockOptionsExercised`	$3.30M	USD	1 Quarter
Issuance of common stock for stock option exercises	`StockIssuedDuringPeriodValueStockOptionsExercised`	$2.60M	USD	1 Quarter
Issuance of common stock for employee stock purchase plan	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$2.70M	USD	1 Quarter
Issuance of common stock for employee stock purchase plan	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$2.50M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$480.80M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$409.30M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$700.30M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$636.90M	USD	Point-in-time

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