Long/short equity

Fundamentals Continue To Look Strong At Neurocrine Bio

February 6, 2014, Neurocrine Biosciences (NASDAQ:NBIX) reported financial results for the fourth quarter and full year ended 2013. The company reported total revenues in the fourth quarter of $0.73 million, dead-on with our expectations. Revenues have been pegged at around $0.7 million for all four quarters in 2013. Research and development expenses were $8.9 million, around $0.6 million below our estimate. General and administrative expenses of $3.3 million came in essentially right in-line with our model. The company reported a loss of $10.6 million ($0.16 per share) for the quarter, roughly $0.01 better than our expectation of ($0.17) on slightly lower R&D.

For the full year 2013, revenues totaled $2.9 million, a sizable drop from the $53.1 million...

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