Neurocrine Biosciences — May 5, 2026 release

First-Quarter 2026 Financial Results Three Months Ended March 31, (unaudited, in millions, except per share data) 2026 2025 Revenues: INGREZZA Net Product Sales $ 656.9  $ 545.2  CRENESSITY Net Product Sales 153.3  14.5  Other Revenues 4.3  12.9  Total Revenues $ 814.5  $ 572.6  GAAP Research and Development (R&D) $ 296.2  $ 263.2  Non-GAAP R&D $ 272.0  $ 240.2  GAAP Selling, General, and Administrative (SG&A) $ 318.5  $ 276.5  Non-GAAP SG&A $ 281.2  $ 245.3  GAAP Operating Income $ 193.4  $ 23.6  Non-GAAP Operating Income $ 226.4  $ 78.8  GAAP Net Income $ 197.9  $ 7.9  GAAP Earnings Per Share – Diluted $ 1.91  $ 0.08  Non-GAAP Net Income $ 200.5  $ 71.5  Non-GAAP Earnings Per Share – Diluted $ 1.94  $ 0.70  (unaudited, in millions) March 31, 2026 December 31, 2025 Total Cash, Cash Equivalents, and Marketable Securities $ 2,647.2  $ 2,543.4  • Differences in first-quarter 2026 GAAP and Non-GAAP operating expenses compared with first-quarter 2025 were driven by: ◦ Increased R&D expense in support of an expanded and advancing pre-clinical and clinical portfolio including investments in osavampator Phase 3 program in major depressive disorder (MDD) and muscarinic franchise, including the direclidine Phase 3 program as a potential treatment for adults with schizophrenia. Development milestone expense included in R&D was $22.6 million and $45.4 million for the first quarter 2026 and 2025. ◦ Increased SG&A expense primarily reflected continued investment in our commercial organization, including the expansion of our INGREZZA and CRENESSITY sales teams in the first quarter of 2026. ◦ Increased acquired in-process research and development (IPR&D) expense associated with upfront payments for early-stage development candidates license agreements • First-quarter 2026 GAAP net income and earnings per share were $197.9 million and