Neurocrine Biosciences Soars on Third-Quarter Results -- Biotech Movers

 | Nov 02, 2017 | 9:35 AM EDT
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Shares of Neurocrine Biosciences Inc. (NBIX) jumped 19.8% to $73 ahead of the market open on Thursday, Nov. 2, following the release of the San Diego firm's third-quarter results after the market close on Wednesday.

The company had a net loss of $11.1 million, or $0.13 per share, compared to a net loss of $36.9 million, or $0.43 per share, in the year-ago period. Net product sales of Ingrezza, a treatment for tardive dyskinesia, were $45.8 million during the quarter. The U.S. Food and Drug Administration approved Ingrezza in April.

Meanwhile, shares of Trevena Inc. (TRVN) rose 7.6% to $1.55 after the Chesterbrook, Pa.-based company said it has recently submitted a new drug application for pain management drug Olinvo (oliceridine injection) to the FDA.

Olinvo is an analgesic for the management of moderate-to-severe acute pain in the hospital and similar settings. The FDA granted breakthrough therapy designation to Olinvo in February of last year.

Other biotech stock movers include Intellia Therapeutics Inc. (NTLA) . Shares were down 11.9% to $22.44 after the Cambridge, Mass.-based firm on Wednesday priced its underwritten public offering of 6.25 million shares at $24 apiece, which would generate gross proceeds of $150 million. The company has also given underwriters a 30-day option to purchase up to an additional 937,500 shares.

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