Neurocrine Biosciences, a biopharmaceutical company based in San Diego, saw a decline in its stock after announcing that two studies had failed to achieve the desired results. The news caused shares to fall by 6.4%, from $112.15 to $105, during after-hours trading on Thursday. Overall, the stock has experienced an 8.4% decrease this year.
One of the unsuccessful studies involved a proof-of-concept examination of an investigational selective inhibitor, which was licensed from Xenon Pharmaceuticals. Unfortunately, this study failed to show a meaningful reduction in seizure frequency among adults with focal onset seizures. The other study, conducted in collaboration with Takeda Pharmaceutical, also did not meet its primary endpoint. This evaluation aimed to determine the efficacy of a treatment compared to a placebo in patients with anhedonia in major depressive disorder.
Although these results were disappointing, Neurocrine Biosciences' Chief Medical Officer, Eiry W. Roberts, affirmed the company's ongoing commitment to discovering new treatment options for patients living with serious neurological and neuropsychiatric disorders, including epilepsy and major depressive disorder.