A biotech selling brain and hormone drugs, led by INGREZZA for tardive dyskinesia (involuntary movements), plus treatments for Parkinson's, endometriosis, and uterine fibroids.
Money comes from selling INGREZZA and other specialty drugs; gross margin is ~98%, with net margin around 21% (2025). Recurring prescription revenue, not one-off deals.
Patent-protected drugs and a focused sales force in neurology create barriers, but Teva and AbbVie compete in the same space, and INGREZZA faces eventual generic pressure.
Key events, in time order
Institutional stake signals interest, routine filing
Q2 call reveals VYKAT XR sales of $94M, flat QoQ; mgmt notes steady new patient starts
Q2 revenue up 39% YoY to $959M, EPS $2.85 beat, raises FY sales guidance
Following the CCO appointment, three SVPs added this month further bolster the executive team.
Sales spike and strong pipeline drive shares higher, drawing multiple media coverage
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The user is hedging their long positions, including $NBIX, due to market uncertainty. They previously used a short ETF as a hedge and are now reintroducing a small hedge.
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