Neurocrine Biosciences — May 5, 2025 release

• First quarter 2025 GAAP net income and earnings per share were $8 million and $0.08, respectively, compared with $43 million and $0.42, respectively, for first quarter 2024 • First quarter 2025 Non-GAAP net income and earnings per share were $72 million and $0.70, respectively, compared with $125 million and $1.20, respectively, for first quarter 2024 • Differences in first quarter 2025 GAAP and Non-GAAP net income compared with first quarter 2024 were driven by: ◦ Higher net product sales ◦ Increased operating expenses to support expanding and advancing R&D portfolio, incremental investments for CRENESSITY launch activities and INGREZZA sales force expansion in September 2024 ◦ First quarter 2025 includes $45 million of development milestone included in R&D expense, primarily associated with the initiation of osavampator phase 3 program in MDD, compared with $6 million for first quarter 2024 ◦ First quarter 2025 includes a $31 million loss from changes in fair values of equity investments compared with a $2 million gain for first quarter 2024 (Non-GAAP adjustment) ◦ First quarter 2024 includes $89 million charge associated with convertible senior notes election to settle outstanding principal and conversion premium in cash (Non-GAAP adjustment) • On February 5, 2025, the Company completed the $300 million accelerated share repurchase that was initiated in November 2024 • On February 21, 2025, the Company announced a second share repurchase program to repurchase up to $500 million of outstanding common stock. As of March 31, 2025, the Company has repurchased $150 million of outstanding common stock and has $350 million remaining of the Board authorized share repurchase program. • At March 31, 2025, the Company had cash, cash equivalents and marketable securities totaling approximately $1.8 billion A reconciliation of GAAP to Non-GAAP financial results can be found in Table 3 and Table 4 at the end of this news release. Reaffirmed Full Year 2025 Financial Guidance Range (in millions) Low High INGREZZA Net Product Sales 1 $ 2,500  $ 2,600  GAAP R&D Expense 2 $ 960  $ 1,010  Non-GAAP R&D Expense 2, 3 $ 890  $ 940  GAAP SG&A Expense 4 $ 1,110  $ 1,130  Non-GAAP SG&A Expense 3, 4 $ 955  $ 975  1. INGREZZA sales guidance reflects expected net product sales of INGREZZA in tardive dyskinesia and chorea associated with Huntington’s disease. 2. R&D guidance reflects the continued advancement of the Company’s pre-clinical and clinical portfolio including the initiation of Phase 3 programs for osavampator in MDD and NBI-568 in schizophrenia. R&D guidance includes $60 million of expense for development milestones primarily in connection with collaborations with Takeda a