Neurocrine's 'Prader-Willi Treatment' Sees 44% Surge in Q1 Revenue

Neurocrine Biosciences, Inc. (Nasdaq: NBIX) announced on May 5 that its first-quarter 2026 net product revenues rose 44% year-over-year to $811.0 million, while total revenues reached $814.5 million. The strong performance was driven by increased sales of its movement-disorder therapy INGREZZA and the recently launched adrenal hyperactivity treatment CRENESSITY. The company reaffirmed its full-year INGREZZA revenue guidance of $2.7–2.8 billion, initiated new Phase 1/2 trials in obesity and psychiatric disorder candidates, and entered into a definitive agreement to acquire Soleno Therapeutics at $53 per share—approximately $2.9 billion in total—to secure VYKAT XR for treating hyperphagia in Prader–Willi syndrome. Neurocrine also announced promotions among its technical leadership.

On May 15, board member Richard F. Pops exercised stock options on 15,000 shares at $47.89 per share and immediately sold them at about $157.65 per share, generating proceeds of approximately $2.36 million. Following the transaction, he retains ownership of 34,480 common shares.

Separately, on May 18 Neurocrine completed the acquisition of Soleno, officially adding VYKAT XR to its rare-disease portfolio. Soleno has been delisted from Nasdaq and is now a wholly owned subsidiary of Neurocrine. In the wake of the strong INGREZZA sales and the acquisition’s potential to bolster growth in the neuroendocrine and rare-disease sectors, NBIX shares jumped roughly 8% on the day of the Q1 results announcement, reflecting heightened investor interest.

Headquartered in San Diego, Neurocrine is a biopharmaceutical company with three marketed first-in-class therapies: INGREZZA for movement disorders, CRENESSITY for Cushing’s syndrome, and VYKAT XR for Prader–Willi syndrome. The company is expanding its footprint across central nervous system, endocrine, and rare-disease indications. In the U.S. biotech and rare-disease industry, mid-sized pharmaceutical firms with stable, cash-generating products are increasingly acquiring approved rare-disease therapies to diversify their portfolios, and competition in M&A and pipeline expansion in these areas is expected to continue.