Right up until today, Neurocrine (NASDAQ:NBIX) had been a pretty strong call for me. I last wrote about this biotech for Seeking Alpha on September 18 ("Neurocrine Still Looks Significantly Underrated"), and the stock had been up more than 100% since then. While making money in biotechs has hardly been difficult over the last year, a lot of optimism had been building around both Neurocrine's endometriosis and fibroid treatment Elagolix (being developed under license by AbbVie (NYSE:ABBV)) and its VMAT2 inhibitor ('854) for tardive dyskenesia (TD).
That all came to a screeching halt when Neurocrine announced yet another Phase II trial failure for '854 in TD. Although the KINECT-1 study may not be technically a failure,...
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