Neurocrine Biosciences — Jul 30, 2025 release

• Differences in second quarter 2025 GAAP and Non-GAAP net income compared with second quarter 2024 were primarily driven by: ◦ Higher net product sales ◦ Increased operating expenses in support of expanding and advancing R&D portfolio, incremental investment in CRENESSITY launch activities, and continued investment in INGREZZA, including the expansion of the psychiatry and long-term care sales teams in September 2024 ◦ Second quarter 2025 includes $15 million expense for development milestones achieved under collaborations, compared with $27 million for second quarter 2024 ◦ Second quarter 2025 includes $7 million loss from changes in fair values of equity investments, compared with $20 million for second quarter 2024 (Non-GAAP adjustment) ◦ Second quarter 2024 includes $50 million charge associated with settlement of convertible senior notes conversions (Non-GAAP adjustment) ◦ Second quarter 2024 includes $14 million leased office space impairment charge (Non-GAAP adjustment) • On February 21, 2025, the Company announced a new share repurchase program to repurchase up to $500 million of its common stock. As of June 30, 2025, the Company has repurchased $168 million of its common stock, including $18 million during the second quarter of 2025, and has $332 million remaining under the Board authorized program. • At June 30, 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. Updated Full Year 2025 Financial Guidance Range (in millions) Low High INGREZZA Net Product Sales 1 $ 2,500  $ 2,550  GAAP R&D Expense 2 $ 960  $ 1,010  Non-GAAP R&D Expense 2, 3 $ 890  $ 940  GAAP SG&A Expense 4 $ 1,135  $ 1,155  Non-GAAP SG&A Expense 3, 4 $ 980  $ 1,000  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 c