Tuesday is going to be a good day for Neurocrine Biosciences (NBIX) and its shareholders. Strong data from the Phase IIb Kinect-2 study of NBI-98854 ('854) in tardive dyskinesia surprised the Street in a big way, and the shares are poised to jump as a potentially valuable drug suddenly looks much more viable than just a few months ago.
When it comes to the stock market and clinical trial data coming out of biotechs, the reactions often remind me of a cat chasing a laser pointer. Keep that in mind when contemplating the ultimate odds of approval and the challenges in designing a Phase III study that will not only cast the drug in the best light,...
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