Neurocrine Biosciences shares fall after clinical trial update

Shares of Neurocrine Biosciences Inc. fell 5% in premarket trading on Tuesday after the company disclosed that its experimental Parkinson's disease treatment did not meet the primary endpoint in a mid-stage clinical trial.

The biotech company said the Phase II study evaluating its drug candidate, NBIb-1817, did not achieve statistical significance for the primary endpoint, which was a change from baseline in the Unified Parkinson's Disease Rating Scale (UPDRS) Part III score at 12 weeks. The trial assessed the drug's efficacy and safety in patients with Parkinson's disease.

Neurocrine Biosciences stated that the drug candidate demonstrated a favorable safety profile, with no new safety signals observed. The company plans to continue analyzing the data and will provide further updates in the coming months. The stock decline reflects investor disappointment following the trial results, which had been anticipated to potentially advance the drug's development.

Analysts noted that the failure to meet the primary endpoint could delay or derail the drug's path to regulatory approval, pending further clinical trials. Neurocrine Biosciences has not provided a timeline for when additional data or next steps may be disclosed.