Strong Q1 Performance and a ₩3.8 Trillion Acquisition: U.S. Biotech Expanding in Rare Diseases

Neurocrine Biosciences (NASDAQ: NBIX) on May 5 reported that for the first quarter ended March 31, 2026, it achieved net product sales of $811.0 million and total revenues of $814.5 million, marking year-over-year growth in the 40% range. This improvement was driven by increased sales of its flagship drug INGREZZA and its new product CRENESSITY, and the company reaffirmed its full-year net product sales guidance for INGREZZA of $2.7 billion to $2.8 billion.

To bolster its rare-disease portfolio, Neurocrine entered into a cash agreement to acquire Soleno Therapeutics at $53 per share, for a total transaction value of $2.9 billion, securing VYKAT XR. It also announced the initiation of new Phase 1/2 clinical trials targeting obesity and schizophrenia. In addition, on May 15 the company disclosed that board director Richard Pops exercised stock options and sold approximately $2.36 million of common shares under a Rule 10b5-1 trading plan.

On May 18, Neurocrine completed the $2.9 billion acquisition of Soleno, adding VYKAT XR—a treatment that alleviates hyperphagia in Prader-Willi syndrome patients—to its commercial portfolio alongside INGREZZA and CRENESSITY. The company has also launched early-stage trials of NBIP-2118, a corticotropin-releasing factor 2 receptor agonist, further extending its presence in obesity and rare endocrine disorders.

Headquartered in San Diego, California, Neurocrine Biosciences is a Nasdaq-listed biotechnology company developing therapies for central nervous system and endocrine diseases, with its core products being the movement-disorder treatment INGREZZA and the congenital adrenal hyperplasia therapy CRENESSITY. In the U.S. biotech sector, mid-sized firms specializing in neurological, endocrine and rare diseases—like Neurocrine—are increasingly competing with larger companies and driving growth through aggressive mergers, acquisitions and pipeline expansion.