<SEC-DOCUMENT>0001564590-20-003494.txt : 20200205
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<ACCEPTANCE-DATETIME>20200205171317
ACCESSION NUMBER:		0001564590-20-003494
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		21
CONFORMED PERIOD OF REPORT:	20200204
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200205
DATE AS OF CHANGE:		20200205

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NEUROCRINE BIOSCIENCES INC
		CENTRAL INDEX KEY:			0000914475
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				330525145
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22705
		FILM NUMBER:		20579718

	BUSINESS ADDRESS:	
		STREET 1:		12780 EL CAMINO REAL
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92130
		BUSINESS PHONE:		(858) 617-7600

	MAIL ADDRESS:	
		STREET 1:		12780 EL CAMINO REAL
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92130
</SEC-HEADER>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&#160;</p>
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<p style="text-align:center;border-top:none 0pt;padding-top:0pt;border-bottom:none 0pt;padding-bottom:0pt;border-left:none 0pt;padding-left:0pt;border-right:none 0pt;padding-right:0pt;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:18pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">UNITED STATES</p>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;margin-right:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">WASHINGTON, D.C. 20549 </p></div>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;margin-right:0pt;text-indent:0%;font-weight:bold;font-size:18pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">FORM <ix:nonNumeric id="F_000000" name="dei:DocumentType" contextRef="C_0000914475_20200204_20200204">8-K</ix:nonNumeric> </p></div>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;margin-right:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">CURRENT REPORT </p>
<p style="text-align:center;margin-top:6pt;margin-bottom:0pt;margin-left:0pt;margin-right:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Pursuant to Section 13 or 15(d) of</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;margin-right:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">the Securities Exchange Act of 1934 </p>
<p style="text-align:center;margin-top:6pt;margin-bottom:0pt;margin-left:0pt;margin-right:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Date of Report (Date of earliest event reported): <ix:nonNumeric id="F_000002" name="dei:DocumentPeriodEndDate" contextRef="C_0000914475_20200204_20200204" format="ixt:datemonthdayyearen">February 4, 2020</ix:nonNumeric></p></div>
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<p style="text-align:center;border-top:none 0pt;padding-top:0pt;border-bottom:none 0pt;padding-bottom:0pt;border-left:none 0pt;padding-left:0pt;border-right:none 0pt;padding-right:0pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">of Incorporation)</p></td>
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<p style="text-align:center;border-top:none 0pt;padding-top:0pt;border-bottom:none 0pt;padding-bottom:0pt;border-left:none 0pt;padding-left:0pt;border-right:none 0pt;padding-right:0pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Identification No.)</p></td>
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<p style="border-top:none 0pt;padding-top:0pt;border-bottom:none 0pt;padding-bottom:0pt;border-left:none 0pt;padding-left:0pt;border-right:none 0pt;padding-right:0pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:6pt;">&#160;</p></td>
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<p style="border-top:none 0pt;padding-top:0pt;border-bottom:none 0pt;padding-bottom:0pt;border-left:none 0pt;padding-left:0pt;border-right:none 0pt;padding-right:0pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:6pt;">&#160;</p></td>
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<p style="text-align:center;border-top:none 0pt;padding-top:0pt;border-bottom:none 0pt;padding-bottom:0pt;border-left:none 0pt;padding-left:0pt;border-right:none 0pt;padding-right:0pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><ix:nonNumeric id="F_000009" name="dei:EntityAddressAddressLine1" contextRef="C_0000914475_20200204_20200204">12780 El Camino Real</ix:nonNumeric>,</p>
<p style="text-align:center;border-top:none 0pt;padding-top:0pt;border-bottom:none 0pt;padding-bottom:0pt;border-left:none 0pt;padding-left:0pt;border-right:none 0pt;padding-right:0pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><ix:nonNumeric id="F_000010" name="dei:EntityAddressCityOrTown" contextRef="C_0000914475_20200204_20200204">San Diego</ix:nonNumeric>, <ix:nonNumeric id="F_000011" name="dei:EntityAddressStateOrProvince" contextRef="C_0000914475_20200204_20200204" format="ixt-sec:stateprovnameen">California</ix:nonNumeric></p>
<p style="line-height:2pt;border-top:none 0pt;padding-top:0pt;border-bottom:none 0pt;padding-bottom:0pt;border-left:none 0pt;padding-left:0pt;border-right:none 0pt;padding-right:0pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
<td valign="bottom" style="width:33%;">
<p style="text-align:center;border-top:none 0pt;padding-top:0pt;border-bottom:none 0pt;padding-bottom:0pt;border-left:none 0pt;padding-left:0pt;border-right:none 0pt;padding-right:0pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><ix:nonNumeric id="F_000012" name="dei:EntityAddressPostalZipCode" contextRef="C_0000914475_20200204_20200204">92130</ix:nonNumeric></p></td>
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<p style="text-align:center;border-top:none 0pt;padding-top:0pt;border-bottom:none 0pt;padding-bottom:0pt;border-left:none 0pt;padding-left:0pt;border-right:none 0pt;padding-right:0pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(Address of Principal Executive Offices)</p>
<p style="line-height:2pt;border-top:none 0pt;padding-top:0pt;border-bottom:none 0pt;padding-bottom:0pt;border-left:none 0pt;padding-left:0pt;border-right:none 0pt;padding-right:0pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
<td valign="bottom" style="width:33%;">
<p style="text-align:center;border-top:none 0pt;padding-top:0pt;border-bottom:none 0pt;padding-bottom:0pt;border-left:none 0pt;padding-left:0pt;border-right:none 0pt;padding-right:0pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(Zip Code)</p></td>
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<p style="text-align:center;border-bottom:Solid 0.75pt;padding-bottom:1pt;margin-bottom:0pt;margin-top:0pt;margin-left:40%;margin-right:40%;text-indent:0%;font-size:6pt;">&#160;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&#160;</p>
<p style="border-top:none 0pt;padding-top:0pt;border-bottom:none 0pt;padding-bottom:0pt;border-left:none 0pt;padding-left:0pt;border-right:none 0pt;padding-right:0pt;margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Securities registered pursuant to Section 12(b) of the Act:</p>
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<td style="width:34.17%;"></td>
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<td style="width:5.38%;"></td>
<td style="width:24.26%;"></td>
<td style="width:1.02%;"></td>
<td style="width:34.16%;"></td>
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<p style="border-top:none 0pt;padding-top:0pt;border-bottom:none 0pt;padding-bottom:0pt;border-left:none 0pt;padding-left:0pt;border-right:none 0pt;padding-right:0pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;">&#160;</p></td>
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<p style="text-align:center;border-top:none 0pt;padding-top:0pt;border-bottom:none 0pt;padding-bottom:0pt;border-left:none 0pt;padding-left:0pt;border-right:none 0pt;padding-right:0pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><ix:nonNumeric id="F_000020" name="dei:TradingSymbol" contextRef="C_0000914475_20200204_20200204">NBIX</ix:nonNumeric></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;margin-right:0pt;text-indent:0%;font-size:6pt;">&#160;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;margin-right:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below): </p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;margin-right:0pt;text-indent:0%;font-size:6pt;">&#160;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </p></td>
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<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </p></td>
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<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0pt;margin-right:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;&#8201;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;&#8201;240.12b-2 of this chapter).</p></div>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Emerging growth company&#160;<span style="font-family:Segoe UI Symbol;"><ix:nonNumeric id="F_000005" name="dei:EntityEmergingGrowthCompany" contextRef="C_0000914475_20200204_20200204" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric></span></p>
<p style="margin-top:6pt;border-top:none 0pt;padding-top:0pt;border-bottom:none 0pt;padding-bottom:0pt;border-left:none 0pt;padding-left:0pt;border-right:none 0pt;padding-right:0pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&#160;<span style="font-family:Segoe UI Symbol;"><span style="font-size:10pt;font-family:'Times New Roman'">&#9744;</span></span></p>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Item </span><span style="font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2</span><span style="font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">.02.</span></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;"><span style="font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"></span><span style="font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"></span><span style="font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"></span><span style="font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"></span><span style="font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Results of Operations and Financial Condition.</span></p></td></tr></table></div>
<p style="margin-top:3pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On February 4, 2020, Neurocrine Biosciences, Inc. (the &#8220;Company&#8221;) held a live conference call and webcast to discuss, among other things, the Company&#8217;s financial results for the fourth quarter and year ended December 31, 2019. A transcript of that conference call is attached hereto as Exhibit 99.1.</p>
<div style="border-top:none 0pt;padding-top:0pt;border-bottom:none 0pt;padding-bottom:0pt;border-left:none 0pt;padding-left:0pt;border-right:none 0pt;padding-right:0pt;margin-left:0%;margin-right:0%;">
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0pt;margin-right:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed &#8220;filed&#8221; for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;) or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.</p>
<p style="margin-top:12pt;margin-bottom:0pt;margin-left:0pt;margin-right:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Forward-Looking Statements</p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0pt;margin-right:0pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">Statements contained in this Current Report on Form 8-K regarding matters that are not historical facts are &#8220;forward-looking statements&#8221; within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Risks are described more fully in the Company&#8217;s filings with the Securities and Exchange Commission, including without limitation the Company&#8217;s most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, Current Reports on Form 8-K, and other documents subsequently filed with or furnished to the Securities and Exchange Commission. All forward-looking statements contained in this Current Report on Form 8-K speak only as of the date on which they were made. The Company disclaims any obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.</span></p>
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<p style="margin-bottom:6pt;margin-top:12pt;margin-left:0pt;margin-right:0pt;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Item 9.01.</span></p></td>
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<p style="margin-bottom:6pt;margin-top:12pt;margin-left:0pt;margin-right:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Financial Statements and Exhibits.</p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;margin-right:0pt;text-indent:0pt;;font-size:10pt;">&#160;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;margin-right:0pt;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Description</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;margin-right:0pt;text-indent:0pt;;font-weight:bold;;font-size:6pt;">&#160;</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;margin-right:0pt;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">99.1</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;margin-right:0pt;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;&#160;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;margin-right:0pt;text-indent:0pt;;color:#0563C1;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a href="nbix-ex991_17.htm"><span style="text-decoration:underline;">Transcript of the Neurocrine Biosciences, Inc. conference call on February 4, 2020</span></a></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;margin-right:0pt;text-indent:0pt;;font-weight:bold;;font-size:6pt;">&#160;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;margin-right:0pt;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;&#160;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;margin-right:0pt;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Cover Page Interactive Data File (formatted as Inline XBRL with applicable taxonomy extension information contained in Exhibit 101)</p></td>
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<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;">&#160;</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&#160;</p>
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<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</p>
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<p style="border-top:none 0pt;border-bottom:none 0pt;border-left:none 0pt;border-right:none 0pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
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<p style="border-top:none 0pt;border-bottom:none 0pt;border-left:none 0pt;border-right:none 0pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">NEUROCRINE BIOSCIENCES, INC.</p></td>
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<p style="border-top:none 0pt;border-bottom:none 0pt;border-left:none 0pt;border-right:none 0pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
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<p style="border-top:none 0pt;border-bottom:none 0pt;border-left:none 0pt;border-right:none 0pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Date: February 5, 2020</p></td>
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<p style="border-top:none 0pt;border-bottom:none 0pt;border-left:none 0pt;border-right:none 0pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;">&#160;</p></td>
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<p style="border-top:none 0pt;border-bottom:none 0pt;border-left:none 0pt;border-right:none 0pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">/s/&#160;Darin M. Lippoldt</p></td>
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<p style="border-top:none 0pt;border-bottom:none 0pt;border-left:none 0pt;border-right:none 0pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
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<p style="border-top:none 0pt;border-bottom:none 0pt;border-left:none 0pt;border-right:none 0pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Darin M. Lippoldt</p></td>
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<p style="border-top:none 0pt;border-bottom:none 0pt;border-left:none 0pt;border-right:none 0pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Chief Legal Officer</p></td>
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<TYPE>EX-99.1
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 99.1</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:6pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;text-indent:0%;color:#BCBEBF;font-size:18pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="Cover_Page"></a>
<p style="line-height:21pt;margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#BCBEBF;font-size:18pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="Cover_Page"></a>THOMSON REUTERS STREETEVENTS</p>
<p style="line-height:34pt;margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#FFFFFF;font-size:32pt;font-family:Trebuchet MS;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">EDITED<font style="letter-spacing:-3.05pt;"> </font>TRANSCRIPT</p>
<p style="line-height:19pt;margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#FFFFFF;font-size:18pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">NBIX<font style="letter-spacing:-1.65pt;"> </font>-<font style="letter-spacing:-1.6pt;"> </font>Q4<font style="letter-spacing:-1.6pt;"> </font>2019<font style="letter-spacing:-1.6pt;"> </font>Neurocrine<font style="letter-spacing:-1.6pt;"> </font>Biosciences<font style="letter-spacing:-1.6pt;"> </font>Inc<font style="letter-spacing:-1.6pt;"> </font>Earnings<font style="letter-spacing:-1.65pt;"> </font>Call</p>
<p style="line-height:21pt;margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#FFFFFF;font-size:18pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">EVENT DATE/TIME: FEBRUARY 04, 2020 / 9:30PM GMT</p><img src="gkqtdup4fqpe000001.jpg" title="" alt="" style="width:720px;height:450px;"><font style="font-size:9pt;color:#000000;"></font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="gkqtdup4fqpe000002.jpg" title="" alt="" style="width:720px;height:28px;">
<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0.18%;text-indent:0%;color:#FFFFFF;font-size:12pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">FEBRUARY<font style="letter-spacing:-0.5pt;"> </font>04,<font style="letter-spacing:-0.5pt;"> </font>2020<font style="letter-spacing:-0.5pt;"> </font>/<font style="letter-spacing:-0.5pt;"> </font>9:30PM,<font style="letter-spacing:-0.5pt;"> </font>NBIX<font style="letter-spacing:-0.5pt;"> </font>-<font style="letter-spacing:-0.45pt;"> </font>Q4<font style="letter-spacing:-0.5pt;"> </font>2019<font style="letter-spacing:-0.5pt;"> </font>Neurocrine<font style="letter-spacing:-0.5pt;"> </font>Biosciences<font style="letter-spacing:-0.5pt;"> </font>Inc<font style="letter-spacing:-0.5pt;"> </font>Earnings<font style="letter-spacing:-0.45pt;"> </font>Call</p></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;color:#003399;font-weight:bold;font-family:Calibri;font-size:11pt;font-style:normal;text-transform:none;font-variant: normal;"><a name="Corporate_Participants"></a><a name="Eiry_Wyn_Roberts_(10_Turns)"></a>CORPORATE PARTICIPANTS </p><a name="Eric_S._Benevich_(5_Turns)"></a>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:49.55%;text-indent:0%;font-family:Calibri;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="Kevin_C._Gorman_(7_Turns)"></a><a name="Kyle_W._Gano_(1_Turn)"></a><a href="#_bookmark3"><font style="font-weight:bold;font-size:9pt;">Eiry Wyn Roberts </font></a><font style="font-style:italic;font-size:9pt;"><a name="Kevin_C._Gorman_(7_Turns)"></a>Neurocrine Biosciences, Inc. - Chief Medical Officer </font><a href="#_bookmark6"><font style="font-weight:bold;font-size:9pt;">Eric S. Benevich </font></a><font style="font-style:italic;font-size:9pt;font-family:Calibri;font-weight:normal;text-transform:none;font-variant: normal;"><a name="Kyle_W._Gano_(1_Turn)"></a>Neurocrine Biosciences, Inc. - Chief Commercial Officer </font><a href="#_bookmark6"><a href="#_bookmark0"><font style="font-weight:bold;font-size:9pt;">Kevin C. Gorman </font></a><font style="font-style:italic;font-size:9pt;font-family:Calibri;font-weight:normal;text-transform:none;font-variant: normal;">Neurocrine Biosciences, Inc. - CEO &amp; Director</font></p><a name="Matthew_C._Abernethy_(5_Turns)"></a>
<p style="line-height:10pt;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;text-indent:0%;font-family:Calibri;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a href="#_bookmark11"><font style="font-weight:bold;font-size:9pt;">Kyle W. Gano </font></a><font style="font-style:italic;font-size:9pt;">Neurocrine Biosciences, Inc. - Chief Business Development and Strategy Officer</font></p><a name="Todd_Tushla_(1_Turn)"></a>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-family:Calibri;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a href="#_bookmark2"><font style="font-weight:bold;font-size:9pt;">Matthew C. Abernethy </font></a><font style="font-style:italic;font-size:9pt;">Neurocrine Biosciences, Inc. - CFO</font></p><a name="Conference_Call_Participants"></a>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-family:Calibri;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a href="#_bookmark1"><font style="font-weight:bold;font-size:9pt;">Todd Tushla </font></a><font style="font-style:italic;font-size:9pt;">Neurocrine Biosciences, Inc. - VP of IR</font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:14pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;text-indent:0%;color:#003399;font-weight:bold;font-family:Calibri;font-size:11pt;font-style:normal;text-transform:none;font-variant: normal;"><a name="Brian_Peter_Skorney_(1_Turn)"></a><a name="Charles_Cliff_Duncan_(2_Turns)"></a>CONFERENCE CALL PARTICIPANTS </p><a name="David_A._Amsellem_(1_Turn)"></a>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-family:Calibri;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a href="#_bookmark7"><font style="font-weight:bold;font-size:9pt;">Brian Peter Skorney </font></a><font style="font-style:italic;font-size:9pt;">Robert W. Baird &amp; Co. Incorporated, Research Division - Senior Research Analyst</font></p><a name="Evan_David_Seigerman_(1_Turn)"></a>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-family:Calibri;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a href="#_bookmark13"><font style="font-weight:bold;font-size:9pt;">Charles Cliff Duncan </font></a><font style="font-style:italic;font-size:9pt;">Cantor Fitzgerald &amp; Co., Research Division - Senior Analyst</font></p><a name="Jay_Olson_(1_Turn)"></a>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;margin-right:33.03%;text-indent:0%;font-family:Calibri;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="Joseph_Robert_Stringer_(1_Turn)"></a><a name="Kyuwon_Choi_(2_Turns)"></a><a name="Laura_Christianson_(1_Turn)"></a><a href="#_bookmark16"><font style="font-weight:bold;font-size:9pt;">David A. Amsellem </font></a><font style="font-style:italic;font-size:9pt;"><a name="Joseph_Robert_Stringer_(1_Turn)"></a>Piper Sandler &amp; Co., Research Division - MD and Senior Research Analyst </font><a href="#_bookmark15"><font style="font-weight:bold;font-size:9pt;">Evan</font><font style="font-weight:bold;font-size:9pt;letter-spacing:-0.5pt;"> </font><font style="font-weight:bold;font-size:9pt;">David</font><font style="font-weight:bold;font-size:9pt;letter-spacing:-0.45pt;"> </font><font style="font-weight:bold;font-size:9pt;">Seigerman</font><font style="font-weight:bold;font-size:9pt;letter-spacing:-0.35pt;"> </font></a><font style="font-style:italic;font-size:9pt;font-family:Calibri;font-weight:normal;text-transform:none;font-variant: normal;">Cr&#233;dit</font><font style="font-style:italic;font-size:9pt;letter-spacing:-0.4pt;"> </font><font style="font-style:italic;font-size:9pt;">Suisse</font><font style="font-style:italic;font-size:9pt;letter-spacing:-0.35pt;"> </font><font style="font-style:italic;font-size:9pt;">AG,</font><font style="font-style:italic;font-size:9pt;letter-spacing:-0.35pt;"> </font><font style="font-style:italic;font-size:9pt;">Research</font><font style="font-style:italic;font-size:9pt;letter-spacing:-0.4pt;"> </font><font style="font-style:italic;font-size:9pt;">Division</font><font style="font-style:italic;font-size:9pt;letter-spacing:-0.35pt;"> </font><font style="font-style:italic;font-size:9pt;">-</font><font style="font-style:italic;font-size:9pt;letter-spacing:-0.35pt;"> </font><font style="font-style:italic;font-size:9pt;">VP</font><font style="font-style:italic;font-size:9pt;letter-spacing:-0.4pt;"> </font><font style="font-style:italic;font-size:9pt;">&amp;</font><font style="font-style:italic;font-size:9pt;letter-spacing:-0.35pt;"> </font><font style="font-style:italic;font-size:9pt;">Senior</font><font style="font-style:italic;font-size:9pt;letter-spacing:-0.35pt;"> </font><font style="font-style:italic;font-size:9pt;">Equity</font><font style="font-style:italic;font-size:9pt;letter-spacing:-0.35pt;"> </font><font style="font-style:italic;font-size:9pt;">Research</font><font style="font-style:italic;font-size:9pt;letter-spacing:-0.4pt;"> </font><font style="font-style:italic;font-size:9pt;"><a name="Kyuwon_Choi_(2_Turns)"></a>Analyst </font><a href="#_bookmark15"><a href="#_bookmark10"><font style="font-weight:bold;font-size:9pt;">Jay Olson </font></a><font style="font-style:italic;font-size:9pt;font-family:Calibri;font-weight:normal;text-transform:none;font-variant: normal;"><a name="Laura_Christianson_(1_Turn)"></a>Oppenheimer &amp; Co. Inc., Research Division - Executive Director &amp; Senior Analyst </font><a href="#_bookmark15"><a href="#_bookmark10"><a href="#_bookmark18"><font style="font-weight:bold;font-size:9pt;">Joseph</font><font style="font-weight:bold;font-size:9pt;letter-spacing:-0.35pt;"> </font><font style="font-weight:bold;font-size:9pt;">Robert</font><font style="font-weight:bold;font-size:9pt;letter-spacing:-0.35pt;"> </font><font style="font-weight:bold;font-size:9pt;">Stringer</font><font style="font-weight:bold;font-size:9pt;letter-spacing:-0.25pt;"> </font></a><font style="font-style:italic;font-size:9pt;font-family:Calibri;font-weight:normal;text-transform:none;font-variant: normal;">Needham</font><font style="font-style:italic;font-size:9pt;letter-spacing:-0.2pt;"> </font><font style="font-style:italic;font-size:9pt;">&amp;</font><font style="font-style:italic;font-size:9pt;letter-spacing:-0.25pt;"> </font><font style="font-style:italic;font-size:9pt;">Company,</font><font style="font-style:italic;font-size:9pt;letter-spacing:-0.25pt;"> </font><font style="font-style:italic;font-size:9pt;">LLC,</font><font style="font-style:italic;font-size:9pt;letter-spacing:-0.2pt;"> </font><font style="font-style:italic;font-size:9pt;">Research</font><font style="font-style:italic;font-size:9pt;letter-spacing:-0.25pt;"> </font><font style="font-style:italic;font-size:9pt;">Division</font><font style="font-style:italic;font-size:9pt;letter-spacing:-0.25pt;"> </font><font style="font-style:italic;font-size:9pt;">-</font><font style="font-style:italic;font-size:9pt;letter-spacing:-0.25pt;"> </font><font style="font-style:italic;font-size:9pt;">Associate</font></p><a name="Marc_Harold_Goodman_(2_Turns)"></a><a name="Owen_J._Drinkwater_(1_Turn)"></a>
<p style="line-height:10pt;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;text-indent:0%;font-family:Calibri;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a href="#_bookmark14"><font style="font-weight:bold;font-size:9pt;">Kyuwon Choi </font></a><font style="font-style:italic;font-size:9pt;">Goldman Sachs Group Inc., Research Division - Equity Analyst</font></p><a name="Paul_Andrew_Matteis_(1_Turn)"></a>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-family:Calibri;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a href="#_bookmark12"><font style="font-weight:bold;font-size:9pt;">Laura Christianson </font></a><font style="font-style:italic;font-size:9pt;">Cowen and Company, LLC, Research Division - Research Associate</font></p><a name="Tazeen_Ahmad_(1_Turn)"></a>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-family:Calibri;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a href="#_bookmark17"><font style="font-weight:bold;font-size:9pt;">Marc Harold Goodman </font></a><font style="font-style:italic;font-size:9pt;">SVB Leerink LLC, Research Division - MD of Neuroscience &amp; Senior Research Analyst</font></p><a name="Tessa_Thomas_Romero_(2_Turns)"></a>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-family:Calibri;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a href="#_bookmark8"><font style="font-weight:bold;font-size:9pt;">Owen J. Drinkwater </font></a><font style="font-style:italic;font-size:9pt;">RBC Capital Markets, Research Division - Associate</font></p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a href="#_bookmark5">Paul Andrew Matteis </a>Stifel, Nicolaus &amp; Company, Incorporated, Research Division - Co-Head of the Biotech Team, MD &amp; Senior Analyst</p><a name="PRESENTATION"></a>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-family:Calibri;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a href="#_bookmark4"><font style="font-weight:bold;font-size:9pt;">Tazeen Ahmad </font></a><font style="font-style:italic;font-size:9pt;">BofA Merrill Lynch, Research Division - VP</font></p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a href="#_bookmark9">Tessa Thomas Romero </a>JP Morgan Chase &amp; Co, Research Division - Associate</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:14pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;text-indent:0%;color:#003399;font-weight:bold;font-family:Calibri;font-size:11pt;font-style:normal;text-transform:none;font-variant: normal;">PRESENTATION </p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Operator</p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="2._Kevin_C._Gorman"></a><a name="_bookmark0"></a><a name="2._Kevin_C._Gorman"></a><a name="_bookmark0"></a>Good day, everyone, and welcome to the Neurocrine Biosciences Fourth quarter and Year-end 2019 Results Call. (Operator Instructions) Please note, today's call will be recorded. (Operator Instructions)</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">It is now my pleasure to turn the program over to Kevin Gorman, CEO of Neurocrine Biosciences. Please go ahead.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Kevin C. Gorman <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - CEO &amp; Director</font></p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Thank you very much, operator. And thank you, everyone, for joining us here this afternoon. Today, I have Eiry Roberts, our Chief Medical Officer; Eric Benevich, Chief Commercial Officer; Matt Abernethy, CFO; Kyle Gano, our Head of BD and Strategy; and Todd Tushla, our Head of IR, with me.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Before we start out, Todd, could you read our safe harbor statement.</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="gkqtdup4fqpe000002.jpg" title="" alt="" style="width:720px;height:28px;">
<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0.18%;text-indent:0%;color:#FFFFFF;font-size:12pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">FEBRUARY<font style="letter-spacing:-0.5pt;"> </font>04,<font style="letter-spacing:-0.5pt;"> </font>2020<font style="letter-spacing:-0.5pt;"> </font>/<font style="letter-spacing:-0.5pt;"> </font>9:30PM,<font style="letter-spacing:-0.5pt;"> </font>NBIX<font style="letter-spacing:-0.5pt;"> </font>-<font style="letter-spacing:-0.45pt;"> </font>Q4<font style="letter-spacing:-0.5pt;"> </font>2019<font style="letter-spacing:-0.5pt;"> </font>Neurocrine<font style="letter-spacing:-0.5pt;"> </font>Biosciences<font style="letter-spacing:-0.5pt;"> </font>Inc<font style="letter-spacing:-0.5pt;"> </font>Earnings<font style="letter-spacing:-0.45pt;"> </font>Call</p></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="3._Todd_Tushla"></a><a name="_bookmark1"></a>Todd Tushla <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - VP of IR</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Yes.<font style="letter-spacing:-0.45pt;"> </font>Good<font style="letter-spacing:-0.45pt;"> </font>afternoon,<font style="letter-spacing:-0.45pt;"> </font>everyone.<font style="letter-spacing:-0.45pt;"> </font>Certain<font style="letter-spacing:-0.45pt;"> </font>statements<font style="letter-spacing:-0.45pt;"> </font>made<font style="letter-spacing:-0.45pt;"> </font>in<font style="letter-spacing:-0.45pt;"> </font>the<font style="letter-spacing:-0.45pt;"> </font>course<font style="letter-spacing:-0.45pt;"> </font>of<font style="letter-spacing:-0.45pt;"> </font>this<font style="letter-spacing:-0.45pt;"> </font>conference<font style="letter-spacing:-0.45pt;"> </font>call<font style="letter-spacing:-0.45pt;"> </font>that<font style="letter-spacing:-0.45pt;"> </font>are<font style="letter-spacing:-0.45pt;"> </font>not<font style="letter-spacing:-0.45pt;"> </font>historical<font style="letter-spacing:-0.45pt;"> </font>statements<font style="letter-spacing:-0.45pt;"> </font>to<font style="letter-spacing:-0.45pt;"> </font>be<font style="letter-spacing:-0.45pt;"> </font>forward-looking statements, which are subject to risks and<font style="letter-spacing:-0.95pt;"> </font>uncertainties.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Information concerning factors that could cause actual results to differ materially from those contained in or implied by the forward-looking statements<font style="letter-spacing:-0.25pt;"> </font>is<font style="letter-spacing:-0.2pt;"> </font>contained<font style="letter-spacing:-0.2pt;"> </font>in<font style="letter-spacing:-0.2pt;"> </font>the<font style="letter-spacing:-0.2pt;"> </font>company's<font style="letter-spacing:-0.2pt;"> </font>SEC<font style="letter-spacing:-0.2pt;"> </font>filings,<font style="letter-spacing:-0.2pt;"> </font>including,<font style="letter-spacing:-0.2pt;"> </font>but<font style="letter-spacing:-0.2pt;"> </font>not<font style="letter-spacing:-0.2pt;"> </font>limited<font style="letter-spacing:-0.2pt;"> </font>to,<font style="letter-spacing:-0.2pt;"> </font>the<font style="letter-spacing:-0.2pt;"> </font>company's<font style="letter-spacing:-0.2pt;"> </font>third<font style="letter-spacing:-0.2pt;"> </font>quarter<font style="letter-spacing:-0.2pt;"> </font>2019<font style="letter-spacing:-0.2pt;"> </font>Form<font style="letter-spacing:-0.2pt;"> </font>10-Q<font style="letter-spacing:-0.2pt;"> </font>and<font style="letter-spacing:-0.2pt;"> </font>in<font style="letter-spacing:-0.2pt;"> </font>today's press<font style="letter-spacing:-0.3pt;"> </font>release.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Copies<font style="letter-spacing:-0.45pt;"> </font>may<font style="letter-spacing:-0.4pt;"> </font>be<font style="letter-spacing:-0.45pt;"> </font>obtained<font style="letter-spacing:-0.4pt;"> </font>by<font style="letter-spacing:-0.45pt;"> </font>visiting<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.45pt;"> </font>Investor<font style="letter-spacing:-0.4pt;"> </font>Relations<font style="letter-spacing:-0.45pt;"> </font>page<font style="letter-spacing:-0.4pt;"> </font>on<font style="letter-spacing:-0.45pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>company's<font style="letter-spacing:-0.45pt;"> </font>website.<font style="letter-spacing:-0.4pt;"> </font>Any<font style="letter-spacing:-0.45pt;"> </font>forward-looking<font style="letter-spacing:-0.4pt;"> </font>statements<font style="letter-spacing:-0.4pt;"> </font>are<font style="letter-spacing:-0.45pt;"> </font>made<font style="letter-spacing:-0.4pt;"> </font>only<font style="letter-spacing:-0.45pt;"> </font>as<font style="letter-spacing:-0.4pt;"> </font>of today's<font style="letter-spacing:-0.35pt;"> </font>date,<font style="letter-spacing:-0.3pt;"> </font>and<font style="letter-spacing:-0.35pt;"> </font>we<font style="letter-spacing:-0.3pt;"> </font>disclaim<font style="letter-spacing:-0.35pt;"> </font>any<font style="letter-spacing:-0.3pt;"> </font>obligation<font style="letter-spacing:-0.35pt;"> </font>to<font style="letter-spacing:-0.3pt;"> </font>update<font style="letter-spacing:-0.35pt;"> </font>these<font style="letter-spacing:-0.3pt;"> </font>forward-looking<font style="letter-spacing:-0.35pt;"> </font>statements.<font style="letter-spacing:-0.3pt;"> </font>Kevin?</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="4._Kevin_C._Gorman"></a>Kevin C. Gorman <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - CEO &amp; Director</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Thank you, Todd. I'm going to keep my remarks brief so we can get to your questions. First and foremost, 2019 was a year where we continued to make progress in our primary focus of educating healthcare providers, caregivers and patients about tardive dyskinesia. These efforts will continue in 2020 and beyond, because the vast majority of tardive dyskinesia sufferers are still struggling, while waiting for a diagnosis and for appropriate treatment. We believe 2020 will be another year of significant growth for INGREZZA.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Now<font style="letter-spacing:-1.1pt;"> </font>having<font style="letter-spacing:-1.05pt;"> </font>said<font style="letter-spacing:-1.05pt;"> </font>that,<font style="letter-spacing:-1.1pt;"> </font>we're<font style="letter-spacing:-1.05pt;"> </font>fortunate<font style="letter-spacing:-1.05pt;"> </font>not<font style="letter-spacing:-1.1pt;"> </font>to<font style="letter-spacing:-1.05pt;"> </font>be<font style="letter-spacing:-1.05pt;"> </font>a<font style="letter-spacing:-1.05pt;"> </font>single-product<font style="letter-spacing:-1.1pt;"> </font>company.<font style="letter-spacing:-1.05pt;"> </font>In<font style="letter-spacing:-1.05pt;"> </font>2009,<font style="letter-spacing:-1.1pt;"> </font>we<font style="letter-spacing:-1.05pt;"> </font>also<font style="letter-spacing:-1.05pt;"> </font>took<font style="letter-spacing:-1.1pt;"> </font>important<font style="letter-spacing:-1.05pt;"> </font>steps<font style="letter-spacing:-1.05pt;"> </font>to<font style="letter-spacing:-1.05pt;"> </font>build<font style="letter-spacing:-1.1pt;"> </font>the<font style="letter-spacing:-1.05pt;"> </font>leading<font style="letter-spacing:-1.05pt;"> </font>neuroscience biopharmaceutical<font style="letter-spacing:-0.9pt;"> </font>company<font style="letter-spacing:-0.85pt;"> </font>by<font style="letter-spacing:-0.9pt;"> </font>nearly<font style="letter-spacing:-0.85pt;"> </font>doubling<font style="letter-spacing:-0.9pt;"> </font>our<font style="letter-spacing:-0.85pt;"> </font>pipeline<font style="letter-spacing:-0.9pt;"> </font>of<font style="letter-spacing:-0.85pt;"> </font>important<font style="letter-spacing:-0.9pt;"> </font>medicines.<font style="letter-spacing:-0.85pt;"> </font>This<font style="letter-spacing:-0.9pt;"> </font>year,<font style="letter-spacing:-0.85pt;"> </font>we<font style="letter-spacing:-0.9pt;"> </font>will<font style="letter-spacing:-0.85pt;"> </font>have<font style="letter-spacing:-0.9pt;"> </font>3<font style="letter-spacing:-0.85pt;"> </font>compounds<font style="letter-spacing:-0.9pt;"> </font>in<font style="letter-spacing:-0.85pt;"> </font>pivotal<font style="letter-spacing:-0.9pt;"> </font>clinical<font style="letter-spacing:-0.85pt;"> </font>trials, 5<font style="letter-spacing:-0.35pt;"> </font>compounds<font style="letter-spacing:-0.3pt;"> </font>in<font style="letter-spacing:-0.3pt;"> </font>Phase<font style="letter-spacing:-0.3pt;"> </font>II<font style="letter-spacing:-0.3pt;"> </font>studies<font style="letter-spacing:-0.3pt;"> </font>and<font style="letter-spacing:-0.35pt;"> </font>the<font style="letter-spacing:-0.3pt;"> </font>real<font style="letter-spacing:-0.3pt;"> </font>possibility<font style="letter-spacing:-0.3pt;"> </font>of<font style="letter-spacing:-0.3pt;"> </font>having<font style="letter-spacing:-0.3pt;"> </font>3<font style="letter-spacing:-0.35pt;"> </font>medicines<font style="letter-spacing:-0.3pt;"> </font>approved<font style="letter-spacing:-0.3pt;"> </font>in<font style="letter-spacing:-0.3pt;"> </font>4<font style="letter-spacing:-0.3pt;"> </font>indications.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="5._Matthew_C._Abernethy"></a><a name="_bookmark2"></a>Now that's a powerful foundation from which we'll build. With that said, I'd like to turn the call over to Matt and Eiry.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Matthew C. Abernethy <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - CFO</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Good afternoon, and thank you for joining our fourth quarter earnings conference call. I will keep my comments brief since we provided a lot of information over the past month.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Overall,<font style="letter-spacing:-0.55pt;"> </font>INGREZZA<font style="letter-spacing:-0.55pt;"> </font>demonstrated<font style="letter-spacing:-0.55pt;"> </font>another<font style="letter-spacing:-0.55pt;"> </font>strong<font style="letter-spacing:-0.55pt;"> </font>quarter<font style="letter-spacing:-0.55pt;"> </font>with<font style="letter-spacing:-0.55pt;"> </font>$238<font style="letter-spacing:-0.55pt;"> </font>million<font style="letter-spacing:-0.55pt;"> </font>in<font style="letter-spacing:-0.55pt;"> </font>net<font style="letter-spacing:-0.55pt;"> </font>product<font style="letter-spacing:-0.55pt;"> </font>sales,<font style="letter-spacing:-0.5pt;"> </font>putting<font style="letter-spacing:-0.55pt;"> </font>sales<font style="letter-spacing:-0.55pt;"> </font>over<font style="letter-spacing:-0.55pt;"> </font>$750<font style="letter-spacing:-0.55pt;"> </font>million<font style="letter-spacing:-0.55pt;"> </font>in<font style="letter-spacing:-0.55pt;"> </font>2019,<font style="letter-spacing:-0.55pt;"> </font>just<font style="letter-spacing:-0.55pt;"> </font>our second<font style="letter-spacing:-0.6pt;"> </font>full<font style="letter-spacing:-0.6pt;"> </font>calendar<font style="letter-spacing:-0.6pt;"> </font>year<font style="letter-spacing:-0.6pt;"> </font>on<font style="letter-spacing:-0.55pt;"> </font>the<font style="letter-spacing:-0.6pt;"> </font>market.<font style="letter-spacing:-0.6pt;"> </font>Given<font style="letter-spacing:-0.6pt;"> </font>our<font style="letter-spacing:-0.55pt;"> </font>increased<font style="letter-spacing:-0.6pt;"> </font>business<font style="letter-spacing:-0.6pt;"> </font>development<font style="letter-spacing:-0.6pt;"> </font>activity<font style="letter-spacing:-0.55pt;"> </font>and<font style="letter-spacing:-0.6pt;"> </font>noncash<font style="letter-spacing:-0.6pt;"> </font>P&amp;L<font style="letter-spacing:-0.6pt;"> </font>items,<font style="letter-spacing:-0.6pt;"> </font>we<font style="letter-spacing:-0.55pt;"> </font>will<font style="letter-spacing:-0.6pt;"> </font>begin<font style="letter-spacing:-0.6pt;"> </font>reporting<font style="letter-spacing:-0.6pt;"> </font>our financial<font style="letter-spacing:-0.4pt;"> </font>performance<font style="letter-spacing:-0.4pt;"> </font>on<font style="letter-spacing:-0.4pt;"> </font>a<font style="letter-spacing:-0.4pt;"> </font>GAAP<font style="letter-spacing:-0.4pt;"> </font>and<font style="letter-spacing:-0.4pt;"> </font>non-GAAP<font style="letter-spacing:-0.4pt;"> </font>basis.<font style="letter-spacing:-0.4pt;"> </font>Full<font style="letter-spacing:-0.4pt;"> </font>reconciliations<font style="letter-spacing:-0.4pt;"> </font>are<font style="letter-spacing:-0.4pt;"> </font>included<font style="letter-spacing:-0.4pt;"> </font>in<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>tables<font style="letter-spacing:-0.4pt;"> </font>of<font style="letter-spacing:-0.4pt;"> </font>our<font style="letter-spacing:-0.4pt;"> </font>press<font style="letter-spacing:-0.4pt;"> </font>release.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Our sales results translated into increasing profit with Q4 net income of $34 million and non-GAAP net income of $102 million. For the full year 2019, we finished with net income of $37 million and non-GAAP net income of $284 million. We exited the year with $970 million in cash and marketable securities.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Regarding 2020 SG&amp;A and R&amp;D expense guidance, we expect a range of $740 million to $770 million on a GAAP basis, and $620 million to $650 million on a non-GAAP basis. This compares to $469 million of non-GAAP R&amp;D and SG&amp;A expenses in 2019. The increase for 2020 reflects our increased investment in R&amp;D, including our 3 registrational programs and meaningful investments in our Voyager and Xenon collaboration.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">For<font style="letter-spacing:-0.2pt;"> </font>SG&amp;A,<font style="letter-spacing:-0.2pt;"> </font>our<font style="letter-spacing:-0.2pt;"> </font>guidance<font style="letter-spacing:-0.15pt;"> </font>reflects<font style="letter-spacing:-0.2pt;"> </font>continued<font style="letter-spacing:-0.2pt;"> </font>investment<font style="letter-spacing:-0.2pt;"> </font>in<font style="letter-spacing:-0.15pt;"> </font>INGREZZA<font style="letter-spacing:-0.2pt;"> </font>and<font style="letter-spacing:-0.2pt;"> </font>marketing<font style="letter-spacing:-0.2pt;"> </font>costs<font style="letter-spacing:-0.15pt;"> </font>associated<font style="letter-spacing:-0.2pt;"> </font>with<font style="letter-spacing:-0.2pt;"> </font>the<font style="letter-spacing:-0.2pt;"> </font>anticipated<font style="letter-spacing:-0.15pt;"> </font>launch<font style="letter-spacing:-0.2pt;"> </font>of<font style="letter-spacing:-0.2pt;"> </font>opicapone. Please note that our GAAP guidance reflects approximately $100 million of share-based compensation and a $20 million expected milestone payment<font style="letter-spacing:-0.35pt;"> </font>to<font style="letter-spacing:-0.3pt;"> </font>BIAL<font style="letter-spacing:-0.3pt;"> </font>connected<font style="letter-spacing:-0.3pt;"> </font>with<font style="letter-spacing:-0.35pt;"> </font>the<font style="letter-spacing:-0.3pt;"> </font>expected<font style="letter-spacing:-0.3pt;"> </font>approval<font style="letter-spacing:-0.3pt;"> </font>of<font style="letter-spacing:-0.3pt;"> </font>opicapone<font style="letter-spacing:-0.35pt;"> </font>by<font style="letter-spacing:-0.3pt;"> </font>the<font style="letter-spacing:-0.3pt;"> </font>FDA<font style="letter-spacing:-0.3pt;"> </font>during<font style="letter-spacing:-0.3pt;"> </font>the<font style="letter-spacing:-0.35pt;"> </font>second<font style="letter-spacing:-0.3pt;"> </font>quarter.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">No other future potential milestones or IP R&amp;D associated with current collaborations or future business development activities are included in&nbsp;&nbsp; our GAAP<font style="letter-spacing:-0.3pt;"> </font>guidance.</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="gkqtdup4fqpe000002.jpg" title="" alt="" style="width:720px;height:28px;">
<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0.18%;text-indent:0%;color:#FFFFFF;font-size:12pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">FEBRUARY<font style="letter-spacing:-0.5pt;"> </font>04,<font style="letter-spacing:-0.5pt;"> </font>2020<font style="letter-spacing:-0.5pt;"> </font>/<font style="letter-spacing:-0.5pt;"> </font>9:30PM,<font style="letter-spacing:-0.5pt;"> </font>NBIX<font style="letter-spacing:-0.5pt;"> </font>-<font style="letter-spacing:-0.45pt;"> </font>Q4<font style="letter-spacing:-0.5pt;"> </font>2019<font style="letter-spacing:-0.5pt;"> </font>Neurocrine<font style="letter-spacing:-0.5pt;"> </font>Biosciences<font style="letter-spacing:-0.5pt;"> </font>Inc<font style="letter-spacing:-0.5pt;"> </font>Earnings<font style="letter-spacing:-0.45pt;"> </font>Call</p></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Regarding<font style="letter-spacing:-0.95pt;"> </font>INGREZZA,<font style="letter-spacing:-0.9pt;"> </font>while<font style="letter-spacing:-0.9pt;"> </font>we've<font style="letter-spacing:-0.9pt;"> </font>made<font style="letter-spacing:-0.95pt;"> </font>tremendous<font style="letter-spacing:-0.9pt;"> </font>progress<font style="letter-spacing:-0.9pt;"> </font>developing<font style="letter-spacing:-0.9pt;"> </font>the<font style="letter-spacing:-0.95pt;"> </font>tardive<font style="letter-spacing:-0.9pt;"> </font>dyskinesia<font style="letter-spacing:-0.9pt;"> </font>market,<font style="letter-spacing:-0.95pt;"> </font>diagnosis<font style="letter-spacing:-0.9pt;"> </font>rates<font style="letter-spacing:-0.9pt;"> </font>for<font style="letter-spacing:-0.9pt;"> </font>TD<font style="letter-spacing:-0.95pt;"> </font>are<font style="letter-spacing:-0.9pt;"> </font>still<font style="letter-spacing:-0.9pt;"> </font>only<font style="letter-spacing:-0.9pt;"> </font>in<font style="letter-spacing:-0.95pt;"> </font>the mid-teens.<font style="letter-spacing:-0.3pt;"> </font>We'll<font style="letter-spacing:-0.3pt;"> </font>continue<font style="letter-spacing:-0.25pt;"> </font>our<font style="letter-spacing:-0.3pt;"> </font>educational<font style="letter-spacing:-0.3pt;"> </font>efforts<font style="letter-spacing:-0.25pt;"> </font>to<font style="letter-spacing:-0.3pt;"> </font>remain<font style="letter-spacing:-0.3pt;"> </font>confident<font style="letter-spacing:-0.25pt;"> </font>in<font style="letter-spacing:-0.3pt;"> </font>our<font style="letter-spacing:-0.25pt;"> </font>ability<font style="letter-spacing:-0.3pt;"> </font>to<font style="letter-spacing:-0.3pt;"> </font>help<font style="letter-spacing:-0.25pt;"> </font>many<font style="letter-spacing:-0.3pt;"> </font>more<font style="letter-spacing:-0.3pt;"> </font>patients<font style="letter-spacing:-0.25pt;"> </font>struggling<font style="letter-spacing:-0.3pt;"> </font>with<font style="letter-spacing:-0.3pt;"> </font>TD.<font style="letter-spacing:-0.25pt;"> </font>Healthcare providers,<font style="letter-spacing:-0.85pt;"> </font>patients<font style="letter-spacing:-0.8pt;"> </font>and<font style="letter-spacing:-0.8pt;"> </font>insurers<font style="letter-spacing:-0.85pt;"> </font>continue<font style="letter-spacing:-0.8pt;"> </font>to<font style="letter-spacing:-0.8pt;"> </font>understand<font style="letter-spacing:-0.85pt;"> </font>the<font style="letter-spacing:-0.8pt;"> </font>value<font style="letter-spacing:-0.8pt;"> </font>of<font style="letter-spacing:-0.85pt;"> </font>INGREZZA,<font style="letter-spacing:-0.8pt;"> </font>and<font style="letter-spacing:-0.8pt;"> </font>we<font style="letter-spacing:-0.85pt;"> </font>expect<font style="letter-spacing:-0.8pt;"> </font>access<font style="letter-spacing:-0.8pt;"> </font>will<font style="letter-spacing:-0.85pt;"> </font>remain<font style="letter-spacing:-0.8pt;"> </font>strong<font style="letter-spacing:-0.8pt;"> </font>with<font style="letter-spacing:-0.85pt;"> </font>similar<font style="letter-spacing:-0.8pt;"> </font>net<font style="letter-spacing:-0.8pt;"> </font>revenue per<font style="letter-spacing:-0.3pt;"> </font>script<font style="letter-spacing:-0.3pt;"> </font>in<font style="letter-spacing:-0.25pt;"> </font>2020<font style="letter-spacing:-0.3pt;"> </font>as<font style="letter-spacing:-0.25pt;"> </font>what<font style="letter-spacing:-0.3pt;"> </font>was<font style="letter-spacing:-0.25pt;"> </font>realized<font style="letter-spacing:-0.3pt;"> </font>in<font style="letter-spacing:-0.25pt;"> </font>2019.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As<font style="letter-spacing:-0.45pt;"> </font>we<font style="letter-spacing:-0.4pt;"> </font>think<font style="letter-spacing:-0.4pt;"> </font>about<font style="letter-spacing:-0.4pt;"> </font>Q1,<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>first<font style="letter-spacing:-0.4pt;"> </font>quarter<font style="letter-spacing:-0.4pt;"> </font>of<font style="letter-spacing:-0.4pt;"> </font>every<font style="letter-spacing:-0.4pt;"> </font>year<font style="letter-spacing:-0.4pt;"> </font>is<font style="letter-spacing:-0.4pt;"> </font>challenging<font style="letter-spacing:-0.4pt;"> </font>for<font style="letter-spacing:-0.4pt;"> </font>any<font style="letter-spacing:-0.4pt;"> </font>company<font style="letter-spacing:-0.4pt;"> </font>with<font style="letter-spacing:-0.4pt;"> </font>a<font style="letter-spacing:-0.4pt;"> </font>specialty<font style="letter-spacing:-0.4pt;"> </font>tier<font style="letter-spacing:-0.4pt;"> </font>drug<font style="letter-spacing:-0.4pt;"> </font>due<font style="letter-spacing:-0.4pt;"> </font>to<font style="letter-spacing:-0.4pt;"> </font>payer-related<font style="letter-spacing:-0.4pt;"> </font>seasonal<font style="letter-spacing:-0.45pt;"> </font>dynamics. We are working diligently to mitigate the impact from these headwinds. Although the first quarter poses unique seasonal challenges, our long-term focus is ensuring new patients receive help with their TD and existing patients stay on INGREZZA throughout the<font style="letter-spacing:0.55pt;"> </font>year.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Overall,<font style="letter-spacing:-1.5pt;"> </font>2020<font style="letter-spacing:-1.45pt;"> </font>signifies<font style="letter-spacing:-1.45pt;"> </font>an<font style="letter-spacing:-1.45pt;"> </font>important<font style="letter-spacing:-1.45pt;"> </font>year<font style="letter-spacing:-1.45pt;"> </font>of<font style="letter-spacing:-1.45pt;"> </font>increased<font style="letter-spacing:-1.45pt;"> </font>investment<font style="letter-spacing:-1.45pt;"> </font>into<font style="letter-spacing:-1.45pt;"> </font>Neurocrine<font style="letter-spacing:-1.45pt;"> </font>as<font style="letter-spacing:-1.45pt;"> </font>we<font style="letter-spacing:-1.45pt;"> </font>continue<font style="letter-spacing:-1.45pt;"> </font>to<font style="letter-spacing:-1.45pt;"> </font>grow<font style="letter-spacing:-1.45pt;"> </font>INGREZZA,<font style="letter-spacing:-1.45pt;"> </font>advance<font style="letter-spacing:-1.45pt;"> </font>our<font style="letter-spacing:-1.45pt;"> </font>existing<font style="letter-spacing:-1.45pt;"> </font>programs and expand our<font style="letter-spacing:-0.8pt;"> </font>pipeline.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="6._Eiry_Wyn_Roberts"></a><a name="_bookmark3"></a>With that, I'll now hand the call over to our Chief Medical Officer, Eiry Roberts.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Eiry Wyn Roberts <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - Chief Medical Officer</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Thank<font style="letter-spacing:-1.2pt;"> </font>you,<font style="letter-spacing:-1.2pt;"> </font>Matt,<font style="letter-spacing:-1.2pt;"> </font>and<font style="letter-spacing:-1.15pt;"> </font>good<font style="letter-spacing:-1.2pt;"> </font>afternoon<font style="letter-spacing:-1.2pt;"> </font>to<font style="letter-spacing:-1.15pt;"> </font>everyone<font style="letter-spacing:-1.2pt;"> </font>on<font style="letter-spacing:-1.2pt;"> </font>the<font style="letter-spacing:-1.2pt;"> </font>call.<font style="letter-spacing:-1.15pt;"> </font>I<font style="letter-spacing:-1.2pt;"> </font>will<font style="letter-spacing:-1.2pt;"> </font>also<font style="letter-spacing:-1.15pt;"> </font>keep<font style="letter-spacing:-1.2pt;"> </font>my<font style="letter-spacing:-1.2pt;"> </font>comments<font style="letter-spacing:-1.15pt;"> </font>brief<font style="letter-spacing:-1.2pt;"> </font>today.<font style="letter-spacing:-1.2pt;"> </font>We<font style="letter-spacing:-1.2pt;"> </font>remain<font style="letter-spacing:-1.15pt;"> </font>on<font style="letter-spacing:-1.2pt;"> </font>track<font style="letter-spacing:-1.2pt;"> </font>with<font style="letter-spacing:-1.15pt;"> </font>all<font style="letter-spacing:-1.2pt;"> </font>clinical<font style="letter-spacing:-1.2pt;"> </font>program timelines<font style="letter-spacing:-0.6pt;"> </font>across<font style="letter-spacing:-0.55pt;"> </font>the<font style="letter-spacing:-0.55pt;"> </font>portfolio,<font style="letter-spacing:-0.6pt;"> </font>including<font style="letter-spacing:-0.55pt;"> </font>the<font style="letter-spacing:-0.55pt;"> </font>anticipated<font style="letter-spacing:-0.55pt;"> </font>midyear<font style="letter-spacing:-0.6pt;"> </font>start<font style="letter-spacing:-0.55pt;"> </font>of<font style="letter-spacing:-0.55pt;"> </font>the<font style="letter-spacing:-0.55pt;"> </font>registrational<font style="letter-spacing:-0.6pt;"> </font>trial<font style="letter-spacing:-0.55pt;"> </font>for<font style="letter-spacing:-0.55pt;"> </font>crinecerfont<font style="letter-spacing:-0.55pt;"> </font>in<font style="letter-spacing:-0.6pt;"> </font>adult<font style="letter-spacing:-0.55pt;"> </font>patients<font style="letter-spacing:-0.55pt;"> </font>with<font style="letter-spacing:-0.55pt;"> </font>congenital adrenal<font style="letter-spacing:-1.25pt;"> </font>hyperplasia.<font style="letter-spacing:-1.2pt;"> </font>Ahead<font style="letter-spacing:-1.2pt;"> </font>of<font style="letter-spacing:-1.2pt;"> </font>this,<font style="letter-spacing:-1.25pt;"> </font>we<font style="letter-spacing:-1.2pt;"> </font>will<font style="letter-spacing:-1.2pt;"> </font>present<font style="letter-spacing:-1.2pt;"> </font>the<font style="letter-spacing:-1.2pt;"> </font>adult<font style="letter-spacing:-1.25pt;"> </font>proof-of-concept<font style="letter-spacing:-1.2pt;"> </font>data<font style="letter-spacing:-1.2pt;"> </font>for<font style="letter-spacing:-1.2pt;"> </font>crinecerfont<font style="letter-spacing:-1.25pt;"> </font>at<font style="letter-spacing:-1.2pt;"> </font>the<font style="letter-spacing:-1.2pt;"> </font>ENDO<font style="letter-spacing:-1.2pt;"> </font>meeting<font style="letter-spacing:-1.2pt;"> </font>in<font style="letter-spacing:-1.25pt;"> </font>San<font style="letter-spacing:-1.2pt;"> </font>Francisco<font style="letter-spacing:-1.2pt;"> </font>on<font style="letter-spacing:-1.2pt;"> </font>March 30.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">By<font style="letter-spacing:-0.35pt;"> </font>the<font style="letter-spacing:-0.3pt;"> </font>end<font style="letter-spacing:-0.3pt;"> </font>of<font style="letter-spacing:-0.3pt;"> </font>this<font style="letter-spacing:-0.3pt;"> </font>year,<font style="letter-spacing:-0.3pt;"> </font>we<font style="letter-spacing:-0.3pt;"> </font>plan<font style="letter-spacing:-0.3pt;"> </font>to<font style="letter-spacing:-0.3pt;"> </font>have<font style="letter-spacing:-0.3pt;"> </font>a<font style="letter-spacing:-0.3pt;"> </font>diversified<font style="letter-spacing:-0.3pt;"> </font>portfolio<font style="letter-spacing:-0.35pt;"> </font>of<font style="letter-spacing:-0.3pt;"> </font>multi-stage<font style="letter-spacing:-0.3pt;"> </font>programs<font style="letter-spacing:-0.3pt;"> </font>in<font style="letter-spacing:-0.3pt;"> </font>clinical<font style="letter-spacing:-0.3pt;"> </font>development<font style="letter-spacing:-0.3pt;"> </font>at<font style="letter-spacing:-0.3pt;"> </font>Neurocrine,<font style="letter-spacing:-0.3pt;"> </font>including<font style="letter-spacing:-0.3pt;"> </font>3<font style="letter-spacing:-0.3pt;"> </font>registration study stage studies, each in a different clinical indication; and 4, early- to mid-phase neurocrine clinical<font style="letter-spacing:-0.5pt;"> </font>program.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In<font style="letter-spacing:-0.2pt;"> </font>the<font style="letter-spacing:-0.15pt;"> </font>near<font style="letter-spacing:-0.15pt;"> </font>term,<font style="letter-spacing:-0.2pt;"> </font>the<font style="letter-spacing:-0.15pt;"> </font>most<font style="letter-spacing:-0.15pt;"> </font>important<font style="letter-spacing:-0.2pt;"> </font>program<font style="letter-spacing:-0.15pt;"> </font>in<font style="letter-spacing:-0.15pt;"> </font>the<font style="letter-spacing:-0.2pt;"> </font>Neurocrine<font style="letter-spacing:-0.15pt;"> </font>clinical<font style="letter-spacing:-0.15pt;"> </font>portfolio<font style="letter-spacing:-0.2pt;"> </font>for<font style="letter-spacing:-0.15pt;"> </font>patients<font style="letter-spacing:-0.15pt;"> </font>is<font style="letter-spacing:-0.2pt;"> </font>opicapone<font style="letter-spacing:-0.15pt;"> </font>with<font style="letter-spacing:-0.15pt;"> </font>a<font style="letter-spacing:-0.15pt;"> </font>PDUFA<font style="letter-spacing:-0.2pt;"> </font>date<font style="letter-spacing:-0.15pt;"> </font>of<font style="letter-spacing:-0.15pt;"> </font>April<font style="letter-spacing:-0.2pt;"> </font>26.<font style="letter-spacing:-0.15pt;"> </font>Opicapone has<font style="letter-spacing:-0.35pt;"> </font>the<font style="letter-spacing:-0.3pt;"> </font>potential<font style="letter-spacing:-0.3pt;"> </font>to<font style="letter-spacing:-0.3pt;"> </font>significantly<font style="letter-spacing:-0.3pt;"> </font>help<font style="letter-spacing:-0.3pt;"> </font>patients<font style="letter-spacing:-0.35pt;"> </font>impacted<font style="letter-spacing:-0.3pt;"> </font>by<font style="letter-spacing:-0.3pt;"> </font>motor<font style="letter-spacing:-0.3pt;"> </font>fluctuations<font style="letter-spacing:-0.3pt;"> </font>in<font style="letter-spacing:-0.3pt;"> </font>Parkinson's<font style="letter-spacing:-0.35pt;"> </font>disease,<font style="letter-spacing:-0.3pt;"> </font>who<font style="letter-spacing:-0.3pt;"> </font>need<font style="letter-spacing:-0.3pt;"> </font>better<font style="letter-spacing:-0.3pt;"> </font>adjunctive<font style="letter-spacing:-0.3pt;"> </font>treatment<font style="letter-spacing:-0.35pt;"> </font>options. We<font style="letter-spacing:-0.4pt;"> </font>look<font style="letter-spacing:-0.35pt;"> </font>forward<font style="letter-spacing:-0.35pt;"> </font>to<font style="letter-spacing:-0.35pt;"> </font>bringing<font style="letter-spacing:-0.35pt;"> </font>opicapone<font style="letter-spacing:-0.35pt;"> </font>to<font style="letter-spacing:-0.35pt;"> </font>patients<font style="letter-spacing:-0.35pt;"> </font>in<font style="letter-spacing:-0.35pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>U.S.<font style="letter-spacing:-0.35pt;"> </font>and<font style="letter-spacing:-0.35pt;"> </font>to<font style="letter-spacing:-0.35pt;"> </font>educating<font style="letter-spacing:-0.35pt;"> </font>physicians,<font style="letter-spacing:-0.35pt;"> </font>patients<font style="letter-spacing:-0.35pt;"> </font>and<font style="letter-spacing:-0.35pt;"> </font>payers<font style="letter-spacing:-0.35pt;"> </font>on<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.35pt;"> </font>impact,<font style="letter-spacing:-0.35pt;"> </font>that<font style="letter-spacing:-0.35pt;"> </font>this<font style="letter-spacing:-0.35pt;"> </font>well<font style="letter-spacing:-0.35pt;"> </font>tolerated, differentiated COMT inhibitor can have an improving motor functioning for Parkinson's<font style="letter-spacing:-0.75pt;"> </font>patients.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">For my remaining remarks, I'll review our 2 most recently announced collaborations, which highlight Neurocrine's entry into the field of precision medicine through our focus on rare pediatric epilepsies.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Firstly, in December, we announced an important collaboration with Xenon Pharmaceuticals, gaining exclusive rights to NBI-921352, a promising first-in-class molecule, which potently and selectively inhibit the Nav 1.6 sodium channel. We believe this molecule could have great promise <font style="letter-spacing:-0.45pt;">in&nbsp;&nbsp;</font><font style="letter-spacing:1.1pt;"> </font>the treatment for SCN8A developmental encephalopathy or 8A for short, a rare and devastating type of pediatric epilepsy specifically related to a gain of function genetic mutation of the Nav 1.6 sodium channel. 8A very often presents in the first few months of life, and causes a chronic and complex<font style="letter-spacing:0.25pt;"> </font>seizure<font style="letter-spacing:0.25pt;"> </font>disorder<font style="letter-spacing:0.25pt;"> </font>with<font style="letter-spacing:0.25pt;"> </font>developmental<font style="letter-spacing:0.3pt;"> </font>delays.<font style="letter-spacing:0.25pt;"> </font>In<font style="letter-spacing:0.25pt;"> </font>addition,<font style="letter-spacing:0.25pt;"> </font>sudden<font style="letter-spacing:0.3pt;"> </font>unexpected<font style="letter-spacing:0.25pt;"> </font>death<font style="letter-spacing:0.25pt;"> </font>can<font style="letter-spacing:0.25pt;"> </font>occur<font style="letter-spacing:0.3pt;"> </font>in<font style="letter-spacing:0.25pt;"> </font>10%<font style="letter-spacing:0.25pt;"> </font>to<font style="letter-spacing:0.25pt;"> </font>20%<font style="letter-spacing:0.3pt;"> </font>of<font style="letter-spacing:0.25pt;"> </font>patients<font style="letter-spacing:0.25pt;"> </font>with<font style="letter-spacing:0.25pt;"> </font>8A.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">For<font style="letter-spacing:-0.95pt;"> </font>the<font style="letter-spacing:-0.95pt;"> </font>first<font style="letter-spacing:-0.95pt;"> </font>time,<font style="letter-spacing:-0.95pt;"> </font>with<font style="letter-spacing:-0.95pt;"> </font>NBI-921352<font style="letter-spacing:-0.95pt;"> </font>and<font style="letter-spacing:-0.95pt;"> </font>its<font style="letter-spacing:-0.95pt;"> </font>selective<font style="letter-spacing:-0.95pt;"> </font>mechanism<font style="letter-spacing:-0.95pt;"> </font>of<font style="letter-spacing:-0.95pt;"> </font>action,<font style="letter-spacing:-0.95pt;"> </font>we<font style="letter-spacing:-0.95pt;"> </font>plan<font style="letter-spacing:-0.95pt;"> </font>to<font style="letter-spacing:-0.95pt;"> </font>precisely<font style="letter-spacing:-0.95pt;"> </font>target<font style="letter-spacing:-0.95pt;"> </font>the<font style="letter-spacing:-0.95pt;"> </font>ion<font style="letter-spacing:-0.95pt;"> </font>channel<font style="letter-spacing:-0.95pt;"> </font>implicated<font style="letter-spacing:-0.95pt;"> </font>in<font style="letter-spacing:-0.95pt;"> </font>8A<font style="letter-spacing:-0.95pt;"> </font>and<font style="letter-spacing:-0.95pt;"> </font>offer<font style="letter-spacing:-0.95pt;"> </font><font style="letter-spacing:-0.3pt;">the </font>opportunity<font style="letter-spacing:-0.5pt;"> </font>to<font style="letter-spacing:-0.45pt;"> </font>provide<font style="letter-spacing:-0.5pt;"> </font>a<font style="letter-spacing:-0.45pt;"> </font>significantly<font style="letter-spacing:-0.45pt;"> </font>improved<font style="letter-spacing:-0.5pt;"> </font>benefit<font style="letter-spacing:-0.45pt;"> </font>risk<font style="letter-spacing:-0.5pt;"> </font>profile<font style="letter-spacing:-0.45pt;"> </font>for<font style="letter-spacing:-0.45pt;"> </font>these<font style="letter-spacing:-0.5pt;"> </font>patients<font style="letter-spacing:-0.45pt;"> </font>relative<font style="letter-spacing:-0.5pt;"> </font>to<font style="letter-spacing:-0.45pt;"> </font>currently<font style="letter-spacing:-0.45pt;"> </font>available<font style="letter-spacing:-0.5pt;"> </font>treatments.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Beyond 8A, NBI-921352 also has great potential in a range of seizure disorders, including adult focal epilepsy. We plan to file an IND application&nbsp;&nbsp; for this molecule with the FDA in the middle of 2020 in order to start a Phase II trial in a 8A patient in the second half of this<font style="letter-spacing:-0.2pt;"> </font>year.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Secondly,<font style="letter-spacing:-0.3pt;"> </font>in<font style="letter-spacing:-0.25pt;"> </font>January,<font style="letter-spacing:-0.25pt;"> </font>we<font style="letter-spacing:-0.25pt;"> </font>disclosed<font style="letter-spacing:-0.25pt;"> </font>that<font style="letter-spacing:-0.25pt;"> </font>we<font style="letter-spacing:-0.25pt;"> </font>had<font style="letter-spacing:-0.25pt;"> </font>entered<font style="letter-spacing:-0.25pt;"> </font>into<font style="letter-spacing:-0.25pt;"> </font>an<font style="letter-spacing:-0.3pt;"> </font>agreement<font style="letter-spacing:-0.25pt;"> </font>with<font style="letter-spacing:-0.25pt;"> </font>Idorsia,<font style="letter-spacing:-0.25pt;"> </font>which<font style="letter-spacing:-0.25pt;"> </font>includes<font style="letter-spacing:-0.25pt;"> </font>the<font style="letter-spacing:-0.25pt;"> </font>option<font style="letter-spacing:-0.25pt;"> </font>to<font style="letter-spacing:-0.25pt;"> </font>exclusively<font style="letter-spacing:-0.25pt;"> </font>license<font style="letter-spacing:-0.25pt;"> </font>ACT-709478, a potent, selective, orally-active and brain penetrant T-type calcium channel blocker, which has completed Phase I clinical study as a potential treatment for rare pediatric<font style="letter-spacing:-0.6pt;"> </font>epilepsy.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Pending approval of the IND later this year, we plan to initiate a Phase II study in a rare pediatric epilepsy starting in the second half of this year.</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="gkqtdup4fqpe000002.jpg" title="" alt="" style="width:720px;height:28px;">
<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0.18%;text-indent:0%;color:#FFFFFF;font-size:12pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">FEBRUARY<font style="letter-spacing:-0.5pt;"> </font>04,<font style="letter-spacing:-0.5pt;"> </font>2020<font style="letter-spacing:-0.5pt;"> </font>/<font style="letter-spacing:-0.5pt;"> </font>9:30PM,<font style="letter-spacing:-0.5pt;"> </font>NBIX<font style="letter-spacing:-0.5pt;"> </font>-<font style="letter-spacing:-0.45pt;"> </font>Q4<font style="letter-spacing:-0.5pt;"> </font>2019<font style="letter-spacing:-0.5pt;"> </font>Neurocrine<font style="letter-spacing:-0.5pt;"> </font>Biosciences<font style="letter-spacing:-0.5pt;"> </font>Inc<font style="letter-spacing:-0.5pt;"> </font>Earnings<font style="letter-spacing:-0.45pt;"> </font>Call</p></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In addition to the treatment of epilepsy, this mechanism has potential application across a broad range of important neurological disorders, including essential tremor and pain.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Our collaborations with Idorsia and Xenon are not competitive. In fact, they are highly complementary and reinforce our commitment to<font style="letter-spacing:-1.3pt;"> </font>addressing the<font style="letter-spacing:0.3pt;"> </font>needs<font style="letter-spacing:0.3pt;"> </font>of<font style="letter-spacing:0.3pt;"> </font>patients<font style="letter-spacing:0.35pt;"> </font>born<font style="letter-spacing:0.3pt;"> </font>with<font style="letter-spacing:0.3pt;"> </font>rare<font style="letter-spacing:0.35pt;"> </font>and<font style="letter-spacing:0.3pt;"> </font>devastating<font style="letter-spacing:0.3pt;"> </font>forms<font style="letter-spacing:0.3pt;"> </font>of<font style="letter-spacing:0.35pt;"> </font>epilepsy<font style="letter-spacing:0.3pt;"> </font>for<font style="letter-spacing:0.3pt;"> </font>whom<font style="letter-spacing:0.35pt;"> </font>currently<font style="letter-spacing:0.3pt;"> </font>available<font style="letter-spacing:0.3pt;"> </font>treatment<font style="letter-spacing:0.35pt;"> </font>options<font style="letter-spacing:0.3pt;"> </font>are<font style="letter-spacing:0.3pt;"> </font>largely<font style="letter-spacing:0.3pt;"> </font>inadequate.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">It<font style="letter-spacing:-0.75pt;"> </font>is<font style="letter-spacing:-0.75pt;"> </font>our<font style="letter-spacing:-0.75pt;"> </font>expectation<font style="letter-spacing:-0.75pt;"> </font>to<font style="letter-spacing:-0.75pt;"> </font>have<font style="letter-spacing:-0.7pt;"> </font>these<font style="letter-spacing:-0.75pt;"> </font>2<font style="letter-spacing:-0.75pt;"> </font>molecules<font style="letter-spacing:-0.75pt;"> </font>in<font style="letter-spacing:-0.75pt;"> </font>Phase<font style="letter-spacing:-0.75pt;"> </font>II<font style="letter-spacing:-0.75pt;"> </font>in<font style="letter-spacing:-0.7pt;"> </font>rare<font style="letter-spacing:-0.75pt;"> </font>pediatric<font style="letter-spacing:-0.75pt;"> </font>epilepsies<font style="letter-spacing:-0.75pt;"> </font>by<font style="letter-spacing:-0.75pt;"> </font>the<font style="letter-spacing:-0.75pt;"> </font>end<font style="letter-spacing:-0.7pt;"> </font>of<font style="letter-spacing:-0.75pt;"> </font>this<font style="letter-spacing:-0.75pt;"> </font>year.<font style="letter-spacing:-0.75pt;"> </font>Through<font style="letter-spacing:-0.75pt;"> </font>our<font style="letter-spacing:-0.75pt;"> </font>internal<font style="letter-spacing:-0.7pt;"> </font>research<font style="letter-spacing:-0.75pt;"> </font>efforts and through collaboration agreements with Xenon, Idorsia and our gene therapy programs with Voyager, we've nearly doubled <font style="letter-spacing:-0.1pt;">Neurocrine's </font>pipeline<font style="letter-spacing:-0.2pt;"> </font>over<font style="letter-spacing:-0.2pt;"> </font>the<font style="letter-spacing:-0.15pt;"> </font>last<font style="letter-spacing:-0.2pt;"> </font>12<font style="letter-spacing:-0.15pt;"> </font>months.<font style="letter-spacing:-0.2pt;"> </font>Each<font style="letter-spacing:-0.15pt;"> </font>program,<font style="letter-spacing:-0.2pt;"> </font>our<font style="letter-spacing:-0.15pt;"> </font>growing<font style="letter-spacing:-0.2pt;"> </font>pipeline<font style="letter-spacing:-0.15pt;"> </font>has<font style="letter-spacing:-0.2pt;"> </font>the<font style="letter-spacing:-0.15pt;"> </font>potential<font style="letter-spacing:-0.2pt;"> </font>to<font style="letter-spacing:-0.15pt;"> </font>make<font style="letter-spacing:-0.2pt;"> </font>a<font style="letter-spacing:-0.15pt;"> </font>dramatic<font style="letter-spacing:-0.2pt;"> </font>impact<font style="letter-spacing:-0.15pt;"> </font>on<font style="letter-spacing:-0.2pt;"> </font>the<font style="letter-spacing:-0.15pt;"> </font>lives<font style="letter-spacing:-0.2pt;"> </font>of<font style="letter-spacing:-0.2pt;"> </font>patients<font style="letter-spacing:-0.15pt;"> </font><font style="letter-spacing:-0.25pt;">and </font>their<font style="letter-spacing:-0.3pt;"> </font>families.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="7._Kevin_C._Gorman"></a><a name="7._Kevin_C._Gorman"></a>And I'd like to close by thanking the many cross-functional teams at Neurocrine and at our partner companies for their hard work to advance these important molecules. Kevin?</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Kevin C. Gorman <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - CEO &amp; Director</font></p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Thank you, Eiry. So we're ready to take your questions at this time.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:13pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;color:#003399;font-weight:bold;font-family:Calibri;font-size:11pt;font-style:normal;text-transform:none;font-variant: normal;"><a name="QUESTIONS_AND_ANSWERS"></a><a name="1._Operator"></a>QUESTIONS AND ANSWERS </p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Operator</p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="2._Tazeen_Ahmad"></a><a name="_bookmark4"></a>(Operator Instructions) And we'll take our first question of the day from Tazeen Ahmad with Bank of America.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Tazeen Ahmad <font style="font-style:italic;font-weight:normal;">- BofA Merrill Lynch, Research Division - VP</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Maybe<font style="letter-spacing:-1.05pt;"> </font>Eiry,<font style="letter-spacing:-1.05pt;"> </font>a<font style="letter-spacing:-1pt;"> </font>question<font style="letter-spacing:-1.05pt;"> </font>for<font style="letter-spacing:-1pt;"> </font>you.<font style="letter-spacing:-1.05pt;"> </font>You<font style="letter-spacing:-1.05pt;"> </font>made<font style="letter-spacing:-1pt;"> </font>it<font style="letter-spacing:-1.05pt;"> </font>a<font style="letter-spacing:-1pt;"> </font>point<font style="letter-spacing:-1.05pt;"> </font>to<font style="letter-spacing:-1.05pt;"> </font>say<font style="letter-spacing:-1pt;"> </font>that<font style="letter-spacing:-1.05pt;"> </font>the<font style="letter-spacing:-1pt;"> </font>programs<font style="letter-spacing:-1.05pt;"> </font>that<font style="letter-spacing:-1.05pt;"> </font>you're<font style="letter-spacing:-1pt;"> </font>partnered<font style="letter-spacing:-1.05pt;"> </font>with<font style="letter-spacing:-1pt;"> </font>Idorsia<font style="letter-spacing:-1.05pt;"> </font>and<font style="letter-spacing:-1pt;"> </font>Xenon<font style="letter-spacing:-1.05pt;"> </font>are<font style="letter-spacing:-1.05pt;"> </font>not<font style="letter-spacing:-1pt;"> </font>competitive<font style="letter-spacing:-1.05pt;"> </font>with each<font style="letter-spacing:-0.5pt;"> </font>other.<font style="letter-spacing:-0.45pt;"> </font>When<font style="letter-spacing:-0.45pt;"> </font>do<font style="letter-spacing:-0.45pt;"> </font>you<font style="letter-spacing:-0.45pt;"> </font>think<font style="letter-spacing:-0.45pt;"> </font>you<font style="letter-spacing:-0.45pt;"> </font>would<font style="letter-spacing:-0.45pt;"> </font>be<font style="letter-spacing:-0.45pt;"> </font>in<font style="letter-spacing:-0.45pt;"> </font>a<font style="letter-spacing:-0.45pt;"> </font>position<font style="letter-spacing:-0.45pt;"> </font>to<font style="letter-spacing:-0.45pt;"> </font>talk<font style="letter-spacing:-0.45pt;"> </font>about<font style="letter-spacing:-0.45pt;"> </font>what<font style="letter-spacing:-0.45pt;"> </font>specific<font style="letter-spacing:-0.45pt;"> </font>indications<font style="letter-spacing:-0.45pt;"> </font>you<font style="letter-spacing:-0.45pt;"> </font>would<font style="letter-spacing:-0.45pt;"> </font>be<font style="letter-spacing:-0.45pt;"> </font>pursuing<font style="letter-spacing:-0.45pt;"> </font>for<font style="letter-spacing:-0.45pt;"> </font>--<font style="letter-spacing:-0.45pt;"> </font>for<font style="letter-spacing:-0.45pt;"> </font>one<font style="letter-spacing:-0.45pt;"> </font>or<font style="letter-spacing:-0.45pt;"> </font>both<font style="letter-spacing:-0.45pt;"> </font>of these<font style="letter-spacing:-0.3pt;"> </font>programs?</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="3._Eiry_Wyn_Roberts"></a>And<font style="letter-spacing:-0.7pt;"> </font>also,<font style="letter-spacing:-0.65pt;"> </font>how<font style="letter-spacing:-0.65pt;"> </font>you're<font style="letter-spacing:-0.7pt;"> </font>thinking<font style="letter-spacing:-0.65pt;"> </font>about<font style="letter-spacing:-0.65pt;"> </font>the<font style="letter-spacing:-0.7pt;"> </font>general<font style="letter-spacing:-0.65pt;"> </font>epilepsy<font style="letter-spacing:-0.65pt;"> </font>space<font style="letter-spacing:-0.7pt;"> </font>as<font style="letter-spacing:-0.65pt;"> </font>those<font style="letter-spacing:-0.65pt;"> </font>seem<font style="letter-spacing:-0.7pt;"> </font>to<font style="letter-spacing:-0.65pt;"> </font>be<font style="letter-spacing:-0.65pt;"> </font>getting<font style="letter-spacing:-0.7pt;"> </font>crowded<font style="letter-spacing:-0.65pt;"> </font>with<font style="letter-spacing:-0.65pt;"> </font>various<font style="letter-spacing:-0.7pt;"> </font>mechanisms<font style="letter-spacing:-0.65pt;"> </font>of<font style="letter-spacing:-0.65pt;"> </font>action<font style="letter-spacing:-0.7pt;"> </font>of<font style="letter-spacing:-0.65pt;"> </font>drugs that are being<font style="letter-spacing:-0.8pt;"> </font>investigated?</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Eiry Wyn Roberts <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - Chief Medical Officer</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Thanks very much for that. So first of all, I mean, obviously, many of the drugs that are currently used in the epilepsy space, particularly in the broader,<font style="letter-spacing:-0.45pt;"> </font>more<font style="letter-spacing:-0.4pt;"> </font>generalized<font style="letter-spacing:-0.4pt;"> </font>epilepsies<font style="letter-spacing:-0.4pt;"> </font>are<font style="letter-spacing:-0.45pt;"> </font>actually<font style="letter-spacing:-0.4pt;"> </font>very<font style="letter-spacing:-0.4pt;"> </font>old<font style="letter-spacing:-0.4pt;"> </font>and<font style="letter-spacing:-0.45pt;"> </font>in<font style="letter-spacing:-0.4pt;"> </font>fact,<font style="letter-spacing:-0.4pt;"> </font>in<font style="letter-spacing:-0.4pt;"> </font>terms<font style="letter-spacing:-0.45pt;"> </font>of<font style="letter-spacing:-0.4pt;"> </font>their<font style="letter-spacing:-0.4pt;"> </font>benefit<font style="letter-spacing:-0.4pt;"> </font>risk<font style="letter-spacing:-0.45pt;"> </font>profile,<font style="letter-spacing:-0.4pt;"> </font>we<font style="letter-spacing:-0.4pt;"> </font>believe<font style="letter-spacing:-0.4pt;"> </font>there<font style="letter-spacing:-0.4pt;"> </font>is<font style="letter-spacing:-0.45pt;"> </font>a<font style="letter-spacing:-0.4pt;"> </font>significant<font style="letter-spacing:-0.4pt;"> </font>opportunity still to serve patients in that broad epilepsy<font style="letter-spacing:-1pt;"> </font>environment.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">If<font style="letter-spacing:-0.8pt;"> </font>we<font style="letter-spacing:-0.75pt;"> </font>think<font style="letter-spacing:-0.75pt;"> </font>about<font style="letter-spacing:-0.8pt;"> </font>the<font style="letter-spacing:-0.75pt;"> </font>2<font style="letter-spacing:-0.75pt;"> </font>mechanisms<font style="letter-spacing:-0.8pt;"> </font>that<font style="letter-spacing:-0.75pt;"> </font>we're<font style="letter-spacing:-0.75pt;"> </font>focused<font style="letter-spacing:-0.75pt;"> </font>on<font style="letter-spacing:-0.8pt;"> </font>here.<font style="letter-spacing:-0.75pt;"> </font>Although<font style="letter-spacing:-0.75pt;"> </font>sodium<font style="letter-spacing:-0.8pt;"> </font>channel<font style="letter-spacing:-0.75pt;"> </font>blockade<font style="letter-spacing:-0.75pt;"> </font>and<font style="letter-spacing:-0.75pt;"> </font>calcium<font style="letter-spacing:-0.8pt;"> </font>channel<font style="letter-spacing:-0.75pt;"> </font>blockade<font style="letter-spacing:-0.75pt;"> </font>have<font style="letter-spacing:-0.8pt;"> </font>been<font style="letter-spacing:-0.75pt;"> </font>the mainstay of treatment in epilepsy over the long-standing path. Our sodium channel approach here with the Xenon collaboration gives us the opportunity<font style="letter-spacing:-0.15pt;"> </font>to<font style="letter-spacing:-0.15pt;"> </font>target<font style="letter-spacing:-0.15pt;"> </font>very<font style="letter-spacing:-0.15pt;"> </font>specifically,<font style="letter-spacing:-0.15pt;"> </font>one<font style="letter-spacing:-0.1pt;"> </font>of<font style="letter-spacing:-0.15pt;"> </font>the<font style="letter-spacing:-0.15pt;"> </font>sodium<font style="letter-spacing:-0.15pt;"> </font>channels<font style="letter-spacing:-0.15pt;"> </font>through<font style="letter-spacing:-0.15pt;"> </font>Nav<font style="letter-spacing:-0.15pt;"> </font>1.6.<font style="letter-spacing:-0.1pt;"> </font>And<font style="letter-spacing:-0.15pt;"> </font>in<font style="letter-spacing:-0.15pt;"> </font>doing<font style="letter-spacing:-0.15pt;"> </font>that,<font style="letter-spacing:-0.15pt;"> </font>we<font style="letter-spacing:-0.15pt;"> </font>believe<font style="letter-spacing:-0.1pt;"> </font>we<font style="letter-spacing:-0.15pt;"> </font>have<font style="letter-spacing:-0.15pt;"> </font>the<font style="letter-spacing:-0.15pt;"> </font>opportunity<font style="letter-spacing:-0.15pt;"> </font>to much<font style="letter-spacing:-0.55pt;"> </font>more<font style="letter-spacing:-0.55pt;"> </font>selectively<font style="letter-spacing:-0.55pt;"> </font>and<font style="letter-spacing:-0.5pt;"> </font>on<font style="letter-spacing:-0.55pt;"> </font>a<font style="letter-spacing:-0.55pt;"> </font>precise<font style="letter-spacing:-0.5pt;"> </font>way<font style="letter-spacing:-0.55pt;"> </font>address<font style="letter-spacing:-0.55pt;"> </font>the<font style="letter-spacing:-0.5pt;"> </font>symptoms<font style="letter-spacing:-0.55pt;"> </font>of<font style="letter-spacing:-0.55pt;"> </font>epilepsy,<font style="letter-spacing:-0.55pt;"> </font>first<font style="letter-spacing:-0.5pt;"> </font>obviously,<font style="letter-spacing:-0.55pt;"> </font>in<font style="letter-spacing:-0.55pt;"> </font>the<font style="letter-spacing:-0.5pt;"> </font>rare<font style="letter-spacing:-0.55pt;"> </font>SCN8A<font style="letter-spacing:-0.55pt;"> </font>pediatric<font style="letter-spacing:-0.5pt;"> </font>epilepsy.<font style="letter-spacing:-0.55pt;"> </font>But<font style="letter-spacing:-0.55pt;"> </font>beyond that,<font style="letter-spacing:-0.3pt;"> </font>more<font style="letter-spacing:-0.25pt;"> </font>broadly,<font style="letter-spacing:-0.3pt;"> </font>in<font style="letter-spacing:-0.25pt;"> </font>adult<font style="letter-spacing:-0.3pt;"> </font>focal<font style="letter-spacing:-0.25pt;"> </font>epilepsy.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">With<font style="letter-spacing:-0.1pt;"> </font>respect<font style="letter-spacing:-0.1pt;"> </font>to<font style="letter-spacing:-0.1pt;"> </font>the<font style="letter-spacing:-0.1pt;"> </font>other<font style="letter-spacing:-0.1pt;"> </font>collaboration<font style="letter-spacing:-0.1pt;"> </font>with<font style="letter-spacing:-0.1pt;"> </font>Idorsia,<font style="letter-spacing:-0.05pt;"> </font>obviously,<font style="letter-spacing:-0.1pt;"> </font>we<font style="letter-spacing:-0.1pt;"> </font>are<font style="letter-spacing:-0.1pt;"> </font>still<font style="letter-spacing:-0.1pt;"> </font>in<font style="letter-spacing:-0.1pt;"> </font>the<font style="letter-spacing:-0.1pt;"> </font>option<font style="letter-spacing:-0.1pt;"> </font>phase<font style="letter-spacing:-0.05pt;"> </font>of<font style="letter-spacing:-0.1pt;"> </font>that<font style="letter-spacing:-0.1pt;"> </font>agreement<font style="letter-spacing:-0.1pt;"> </font>and<font style="letter-spacing:-0.1pt;"> </font>once<font style="letter-spacing:-0.1pt;"> </font>we<font style="letter-spacing:-0.1pt;"> </font>have<font style="letter-spacing:-0.05pt;"> </font>the<font style="letter-spacing:-0.1pt;"> </font>opportunity to talk more about that as the IND is approved, then we'll be able to say more about the potential indication for that<font style="letter-spacing:1.15pt;"> </font>collaboration.</p>
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<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0.18%;text-indent:0%;color:#FFFFFF;font-size:12pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">FEBRUARY<font style="letter-spacing:-0.5pt;"> </font>04,<font style="letter-spacing:-0.5pt;"> </font>2020<font style="letter-spacing:-0.5pt;"> </font>/<font style="letter-spacing:-0.5pt;"> </font>9:30PM,<font style="letter-spacing:-0.5pt;"> </font>NBIX<font style="letter-spacing:-0.5pt;"> </font>-<font style="letter-spacing:-0.45pt;"> </font>Q4<font style="letter-spacing:-0.5pt;"> </font>2019<font style="letter-spacing:-0.5pt;"> </font>Neurocrine<font style="letter-spacing:-0.5pt;"> </font>Biosciences<font style="letter-spacing:-0.5pt;"> </font>Inc<font style="letter-spacing:-0.5pt;"> </font>Earnings<font style="letter-spacing:-0.45pt;"> </font>Call</p></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:14.5pt;">&nbsp;</p>
<p style="line-height:1pt;margin-bottom:0pt;margin-top:0pt;margin-left:0.86%;text-indent:0%;font-size:1pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="gkqtdup4fqpe000011.jpg" title="" alt="" style="width:720px;height:1px;"><font style="font-size:9pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:4pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="4._Operator"></a>Operator</p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">And we'll go next to Paul Matteis with Stifel.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="5._Paul_Andrew_Matteis"></a><a name="_bookmark5"></a>Paul Andrew Matteis <font style="font-style:italic;font-weight:normal;">- Stifel, Nicolaus &amp; Company, Incorporated, Research Division - Co-Head of the Biotech Team, MD &amp; Senior Analyst</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Just<font style="letter-spacing:-0.8pt;"> </font>2<font style="letter-spacing:-0.8pt;"> </font>on<font style="letter-spacing:-0.8pt;"> </font>INGREZZA.<font style="letter-spacing:-0.75pt;"> </font>I<font style="letter-spacing:-0.8pt;"> </font>was<font style="letter-spacing:-0.8pt;"> </font>wondering<font style="letter-spacing:-0.75pt;"> </font>if<font style="letter-spacing:-0.8pt;"> </font>you<font style="letter-spacing:-0.8pt;"> </font>could<font style="letter-spacing:-0.8pt;"> </font>comment<font style="letter-spacing:-0.75pt;"> </font>a<font style="letter-spacing:-0.8pt;"> </font>little<font style="letter-spacing:-0.8pt;"> </font>bit<font style="letter-spacing:-0.75pt;"> </font>on<font style="letter-spacing:-0.8pt;"> </font>what<font style="letter-spacing:-0.8pt;"> </font>you're<font style="letter-spacing:-0.8pt;"> </font>seeing<font style="letter-spacing:-0.75pt;"> </font>with<font style="letter-spacing:-0.8pt;"> </font>respect<font style="letter-spacing:-0.8pt;"> </font>to<font style="letter-spacing:-0.75pt;"> </font>contracting?<font style="letter-spacing:-0.8pt;"> </font>What<font style="letter-spacing:-0.8pt;"> </font>do<font style="letter-spacing:-0.8pt;"> </font>you<font style="letter-spacing:-0.75pt;"> </font>foresee<font style="letter-spacing:-0.8pt;"> </font>for this<font style="letter-spacing:-0.15pt;"> </font>year?<font style="letter-spacing:-0.1pt;"> </font>In<font style="letter-spacing:-0.15pt;"> </font>the<font style="letter-spacing:-0.1pt;"> </font>past,<font style="letter-spacing:-0.1pt;"> </font>you<font style="letter-spacing:-0.15pt;"> </font>talked<font style="letter-spacing:-0.1pt;"> </font>about<font style="letter-spacing:-0.15pt;"> </font>certain<font style="letter-spacing:-0.1pt;"> </font>plans,<font style="letter-spacing:-0.1pt;"> </font>picking<font style="letter-spacing:-0.15pt;"> </font>one<font style="letter-spacing:-0.1pt;"> </font>of<font style="letter-spacing:-0.15pt;"> </font>the<font style="letter-spacing:-0.1pt;"> </font>INGREZZA<font style="letter-spacing:-0.1pt;"> </font>(inaudible)<font style="letter-spacing:-0.15pt;"> </font>is<font style="letter-spacing:-0.1pt;"> </font>preferred,<font style="letter-spacing:-0.15pt;"> </font>but<font style="letter-spacing:-0.1pt;"> </font>that<font style="letter-spacing:-0.15pt;"> </font>not<font style="letter-spacing:-0.1pt;"> </font>being<font style="letter-spacing:-0.1pt;"> </font>rate-limiting<font style="letter-spacing:-0.15pt;"> </font>for getting<font style="letter-spacing:-0.3pt;"> </font>INGREZZA<font style="letter-spacing:-0.3pt;"> </font>access.<font style="letter-spacing:-0.25pt;"> </font>Maybe<font style="letter-spacing:-0.3pt;"> </font>you<font style="letter-spacing:-0.25pt;"> </font>could<font style="letter-spacing:-0.3pt;"> </font>just<font style="letter-spacing:-0.3pt;"> </font>speak<font style="letter-spacing:-0.25pt;"> </font>that<font style="letter-spacing:-0.3pt;"> </font>dynamic<font style="letter-spacing:-0.25pt;"> </font>is<font style="letter-spacing:-0.3pt;"> </font>continuing?</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="6._Matthew_C._Abernethy"></a>And<font style="letter-spacing:-1.1pt;"> </font>then<font style="letter-spacing:-1.05pt;"> </font>second,<font style="letter-spacing:-1.05pt;"> </font>as<font style="letter-spacing:-1.05pt;"> </font>it<font style="letter-spacing:-1.05pt;"> </font>relates<font style="letter-spacing:-1.05pt;"> </font>to<font style="letter-spacing:-1.05pt;"> </font>[1.2]<font style="letter-spacing:-1.1pt;"> </font>with<font style="letter-spacing:-1.05pt;"> </font>seasonality<font style="letter-spacing:-1.05pt;"> </font>being<font style="letter-spacing:-1.05pt;"> </font>a<font style="letter-spacing:-1.05pt;"> </font>player<font style="letter-spacing:-1.05pt;"> </font>this<font style="letter-spacing:-1.05pt;"> </font>quarter<font style="letter-spacing:-1.1pt;"> </font>and<font style="letter-spacing:-1.05pt;"> </font>then<font style="letter-spacing:-1.05pt;"> </font>also<font style="letter-spacing:-1.05pt;"> </font>a<font style="letter-spacing:-1.05pt;"> </font>potential<font style="letter-spacing:-1.05pt;"> </font>$11<font style="letter-spacing:-1.05pt;"> </font>million<font style="letter-spacing:-1.1pt;"> </font>inventory<font style="letter-spacing:-1.05pt;"> </font>headwind,<font style="letter-spacing:-1.05pt;"> </font>is<font style="letter-spacing:-1.05pt;"> </font>there a<font style="letter-spacing:-0.7pt;"> </font>risk<font style="letter-spacing:-0.65pt;"> </font>that<font style="letter-spacing:-0.7pt;"> </font>we<font style="letter-spacing:-0.65pt;"> </font>could<font style="letter-spacing:-0.65pt;"> </font>actually<font style="letter-spacing:-0.7pt;"> </font>see<font style="letter-spacing:-0.65pt;"> </font>a<font style="letter-spacing:-0.65pt;"> </font>sequentially<font style="letter-spacing:-0.7pt;"> </font>down<font style="letter-spacing:-0.65pt;"> </font>quarter?<font style="letter-spacing:-0.7pt;"> </font>How<font style="letter-spacing:-0.65pt;"> </font>are<font style="letter-spacing:-0.65pt;"> </font>you<font style="letter-spacing:-0.7pt;"> </font>thinking<font style="letter-spacing:-0.65pt;"> </font>about<font style="letter-spacing:-0.7pt;"> </font>that?<font style="letter-spacing:-0.65pt;"> </font>Is<font style="letter-spacing:-0.65pt;"> </font>that<font style="letter-spacing:-0.7pt;"> </font>inventory<font style="letter-spacing:-0.65pt;"> </font>going<font style="letter-spacing:-0.65pt;"> </font>to<font style="letter-spacing:-0.7pt;"> </font>[flow<font style="letter-spacing:-0.65pt;"> </font>out]<font style="letter-spacing:-0.7pt;"> </font>all<font style="letter-spacing:-0.65pt;"> </font>at<font style="letter-spacing:-0.65pt;"> </font>once<font style="letter-spacing:-0.7pt;"> </font><font style="letter-spacing:-0.4pt;"><a name="6._Matthew_C._Abernethy"></a>or </font>maybe over<font style="letter-spacing:-0.55pt;"> </font>time?</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Matthew C. Abernethy <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - CFO</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Yes,<font style="letter-spacing:-0.95pt;"> </font>Paul,<font style="letter-spacing:-0.95pt;"> </font>we'll<font style="letter-spacing:-0.9pt;"> </font>take<font style="letter-spacing:-0.95pt;"> </font>those<font style="letter-spacing:-0.9pt;"> </font>questions<font style="letter-spacing:-0.95pt;"> </font>sort<font style="letter-spacing:-0.9pt;"> </font>of<font style="letter-spacing:-0.95pt;"> </font>in<font style="letter-spacing:-0.9pt;"> </font>reverse<font style="letter-spacing:-0.95pt;"> </font>order.<font style="letter-spacing:-0.9pt;"> </font>So<font style="letter-spacing:-0.95pt;"> </font>as<font style="letter-spacing:-0.9pt;"> </font>we<font style="letter-spacing:-0.95pt;"> </font>think<font style="letter-spacing:-0.9pt;"> </font>about<font style="letter-spacing:-0.95pt;"> </font>the<font style="letter-spacing:-0.9pt;"> </font>first<font style="letter-spacing:-0.95pt;"> </font>quarter,<font style="letter-spacing:-0.9pt;"> </font>to<font style="letter-spacing:-0.95pt;"> </font>your<font style="letter-spacing:-0.95pt;"> </font>point,<font style="letter-spacing:-0.9pt;"> </font>what<font style="letter-spacing:-0.95pt;"> </font>we<font style="letter-spacing:-0.9pt;"> </font>reported<font style="letter-spacing:-0.95pt;"> </font>in<font style="letter-spacing:-0.9pt;"> </font>Q4<font style="letter-spacing:-0.95pt;"> </font>was<font style="letter-spacing:-0.9pt;"> </font><font style="letter-spacing:-0.15pt;">$238 </font>million<font style="letter-spacing:-0.45pt;"> </font>in<font style="letter-spacing:-0.45pt;"> </font>net<font style="letter-spacing:-0.4pt;"> </font>product<font style="letter-spacing:-0.45pt;"> </font>sales<font style="letter-spacing:-0.45pt;"> </font>that<font style="letter-spacing:-0.4pt;"> </font>included<font style="letter-spacing:-0.45pt;"> </font>in<font style="letter-spacing:-0.4pt;"> </font>it<font style="letter-spacing:-0.45pt;"> </font>an<font style="letter-spacing:-0.45pt;"> </font>$11<font style="letter-spacing:-0.4pt;"> </font>million<font style="letter-spacing:-0.45pt;"> </font>inventory<font style="letter-spacing:-0.4pt;"> </font>build.<font style="letter-spacing:-0.45pt;"> </font>So<font style="letter-spacing:-0.45pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>right<font style="letter-spacing:-0.45pt;"> </font>jump-off<font style="letter-spacing:-0.45pt;"> </font>point<font style="letter-spacing:-0.4pt;"> </font>for<font style="letter-spacing:-0.45pt;"> </font>Q4<font style="letter-spacing:-0.4pt;"> </font>would<font style="letter-spacing:-0.45pt;"> </font>be<font style="letter-spacing:-0.45pt;"> </font>$227<font style="letter-spacing:-0.4pt;"> </font>million.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Now<font style="letter-spacing:-0.85pt;"> </font>as<font style="letter-spacing:-0.8pt;"> </font>you<font style="letter-spacing:-0.85pt;"> </font>think<font style="letter-spacing:-0.8pt;"> </font>about<font style="letter-spacing:-0.8pt;"> </font>how<font style="letter-spacing:-0.85pt;"> </font>that<font style="letter-spacing:-0.8pt;"> </font>translates<font style="letter-spacing:-0.8pt;"> </font>to<font style="letter-spacing:-0.85pt;"> </font>Q1,<font style="letter-spacing:-0.8pt;"> </font>there's<font style="letter-spacing:-0.8pt;"> </font>really<font style="letter-spacing:-0.85pt;"> </font>3<font style="letter-spacing:-0.8pt;"> </font>dynamics<font style="letter-spacing:-0.8pt;"> </font>at<font style="letter-spacing:-0.85pt;"> </font>play,<font style="letter-spacing:-0.8pt;"> </font>but<font style="letter-spacing:-0.8pt;"> </font>that<font style="letter-spacing:-0.85pt;"> </font>we<font style="letter-spacing:-0.8pt;"> </font>would<font style="letter-spacing:-0.8pt;"> </font>want<font style="letter-spacing:-0.85pt;"> </font>to<font style="letter-spacing:-0.8pt;"> </font>make<font style="letter-spacing:-0.8pt;"> </font>sure<font style="letter-spacing:-0.85pt;"> </font>everybody<font style="letter-spacing:-0.8pt;"> </font>thinks<font style="letter-spacing:-0.8pt;"> </font>about informing<font style="letter-spacing:-0.15pt;"> </font>consensus<font style="letter-spacing:-0.15pt;"> </font>and<font style="letter-spacing:-0.15pt;"> </font>expectations<font style="letter-spacing:-0.1pt;"> </font>for<font style="letter-spacing:-0.15pt;"> </font>Q1.<font style="letter-spacing:-0.15pt;"> </font>The<font style="letter-spacing:-0.1pt;"> </font>first<font style="letter-spacing:-0.15pt;"> </font>1<font style="letter-spacing:-0.15pt;"> </font>being<font style="letter-spacing:-0.1pt;"> </font>the<font style="letter-spacing:-0.15pt;"> </font>gross<font style="letter-spacing:-0.15pt;"> </font>to<font style="letter-spacing:-0.1pt;"> </font>net<font style="letter-spacing:-0.15pt;"> </font>discount.<font style="letter-spacing:-0.15pt;"> </font>Q1<font style="letter-spacing:-0.15pt;"> </font>is<font style="letter-spacing:-0.1pt;"> </font>always<font style="letter-spacing:-0.15pt;"> </font>our<font style="letter-spacing:-0.15pt;"> </font>largest<font style="letter-spacing:-0.1pt;"> </font>gross<font style="letter-spacing:-0.15pt;"> </font>to<font style="letter-spacing:-0.15pt;"> </font>net<font style="letter-spacing:-0.1pt;"> </font>discount<font style="letter-spacing:-0.15pt;"> </font>period because<font style="letter-spacing:-1.25pt;"> </font>of<font style="letter-spacing:-1.25pt;"> </font>Medicare<font style="letter-spacing:-1.25pt;"> </font>Part<font style="letter-spacing:-1.2pt;"> </font>D<font style="letter-spacing:-1.25pt;"> </font>Medicare<font style="letter-spacing:-1.25pt;"> </font>Part<font style="letter-spacing:-1.2pt;"> </font>D<font style="letter-spacing:-1.25pt;"> </font>donut<font style="letter-spacing:-1.25pt;"> </font>hole<font style="letter-spacing:-1.2pt;"> </font>and<font style="letter-spacing:-1.25pt;"> </font>commercial<font style="letter-spacing:-1.25pt;"> </font>copay<font style="letter-spacing:-1.2pt;"> </font>assistance.<font style="letter-spacing:-1.25pt;"> </font>And<font style="letter-spacing:-1.25pt;"> </font>as<font style="letter-spacing:-1.2pt;"> </font>you<font style="letter-spacing:-1.25pt;"> </font>think<font style="letter-spacing:-1.25pt;"> </font>about<font style="letter-spacing:-1.25pt;"> </font>what<font style="letter-spacing:-1.2pt;"> </font>I<font style="letter-spacing:-1.25pt;"> </font>said<font style="letter-spacing:-1.25pt;"> </font>last<font style="letter-spacing:-1.2pt;"> </font>year,<font style="letter-spacing:-1.25pt;"> </font>many<font style="letter-spacing:-1.25pt;"> </font>people have<font style="letter-spacing:-1.25pt;"> </font>estimated<font style="letter-spacing:-1.2pt;"> </font>the<font style="letter-spacing:-1.2pt;"> </font>impact<font style="letter-spacing:-1.25pt;"> </font>of<font style="letter-spacing:-1.2pt;"> </font>that<font style="letter-spacing:-1.2pt;"> </font>could<font style="letter-spacing:-1.25pt;"> </font>be<font style="letter-spacing:-1.2pt;"> </font>between<font style="letter-spacing:-1.2pt;"> </font>4%<font style="letter-spacing:-1.25pt;"> </font>and<font style="letter-spacing:-1.2pt;"> </font>5%<font style="letter-spacing:-1.2pt;"> </font>sequentially<font style="letter-spacing:-1.25pt;"> </font>as<font style="letter-spacing:-1.2pt;"> </font>you<font style="letter-spacing:-1.2pt;"> </font>think<font style="letter-spacing:-1.25pt;"> </font>about<font style="letter-spacing:-1.2pt;"> </font>Q4<font style="letter-spacing:-1.2pt;"> </font>versus<font style="letter-spacing:-1.25pt;"> </font>Q1.<font style="letter-spacing:-1.2pt;"> </font>So<font style="letter-spacing:-1.2pt;"> </font>I<font style="letter-spacing:-1.25pt;"> </font>think<font style="letter-spacing:-1.2pt;"> </font>that's<font style="letter-spacing:-1.2pt;"> </font>probably<font style="letter-spacing:-1.2pt;"> </font>a<font style="letter-spacing:-1.25pt;"> </font>directional number.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The<font style="letter-spacing:-0.15pt;"> </font>second<font style="letter-spacing:-0.15pt;"> </font>piece,<font style="letter-spacing:-0.1pt;"> </font>which<font style="letter-spacing:-0.15pt;"> </font>is<font style="letter-spacing:-0.15pt;"> </font>actually<font style="letter-spacing:-0.1pt;"> </font>the<font style="letter-spacing:-0.15pt;"> </font>most<font style="letter-spacing:-0.1pt;"> </font>material<font style="letter-spacing:-0.15pt;"> </font>piece<font style="letter-spacing:-0.15pt;"> </font>has<font style="letter-spacing:-0.1pt;"> </font>to<font style="letter-spacing:-0.15pt;"> </font>do<font style="letter-spacing:-0.1pt;"> </font>with<font style="letter-spacing:-0.15pt;"> </font>the<font style="letter-spacing:-0.15pt;"> </font>delays<font style="letter-spacing:-0.1pt;"> </font>that<font style="letter-spacing:-0.15pt;"> </font>occur<font style="letter-spacing:-0.1pt;"> </font>at<font style="letter-spacing:-0.15pt;"> </font>the<font style="letter-spacing:-0.15pt;"> </font>beginning<font style="letter-spacing:-0.1pt;"> </font>of<font style="letter-spacing:-0.15pt;"> </font>each<font style="letter-spacing:-0.1pt;"> </font>year<font style="letter-spacing:-0.15pt;"> </font>as<font style="letter-spacing:-0.15pt;"> </font>patients<font style="letter-spacing:-0.1pt;"> </font>go<font style="letter-spacing:-0.15pt;"> </font>through a reauthorization process with their existing plans. And what occurs in that is it's just an extended cycle time for a patient to get their first fill <font style="letter-spacing:-0.3pt;">and </font>ultimately leads to a lower refill rate per<font style="letter-spacing:-1.15pt;"> </font>patient.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Now<font style="letter-spacing:-0.65pt;"> </font>the<font style="letter-spacing:-0.65pt;"> </font>rate<font style="letter-spacing:-0.65pt;"> </font>may<font style="letter-spacing:-0.6pt;"> </font>be<font style="letter-spacing:-0.65pt;"> </font>very<font style="letter-spacing:-0.65pt;"> </font>similar<font style="letter-spacing:-0.6pt;"> </font>this<font style="letter-spacing:-0.65pt;"> </font>year<font style="letter-spacing:-0.65pt;"> </font>as<font style="letter-spacing:-0.6pt;"> </font>compared<font style="letter-spacing:-0.65pt;"> </font>to<font style="letter-spacing:-0.65pt;"> </font>last<font style="letter-spacing:-0.6pt;"> </font>year,<font style="letter-spacing:-0.65pt;"> </font>but<font style="letter-spacing:-0.65pt;"> </font>the<font style="letter-spacing:-0.6pt;"> </font>dollar<font style="letter-spacing:-0.65pt;"> </font>magnitude<font style="letter-spacing:-0.65pt;"> </font>will<font style="letter-spacing:-0.6pt;"> </font>be<font style="letter-spacing:-0.65pt;"> </font>significantly<font style="letter-spacing:-0.65pt;"> </font>greater<font style="letter-spacing:-0.65pt;"> </font>because<font style="letter-spacing:-0.6pt;"> </font>we've<font style="letter-spacing:-0.65pt;"> </font>actually doubled<font style="letter-spacing:-0.3pt;"> </font>the<font style="letter-spacing:-0.3pt;"> </font>number<font style="letter-spacing:-0.3pt;"> </font>of<font style="letter-spacing:-0.3pt;"> </font>patients<font style="letter-spacing:-0.3pt;"> </font>on<font style="letter-spacing:-0.3pt;"> </font>INGREZZA<font style="letter-spacing:-0.3pt;"> </font>as<font style="letter-spacing:-0.3pt;"> </font>--<font style="letter-spacing:-0.3pt;"> </font>if<font style="letter-spacing:-0.25pt;"> </font>you<font style="letter-spacing:-0.3pt;"> </font>compare<font style="letter-spacing:-0.3pt;"> </font>the<font style="letter-spacing:-0.3pt;"> </font>time<font style="letter-spacing:-0.3pt;"> </font>now<font style="letter-spacing:-0.3pt;"> </font>to<font style="letter-spacing:-0.3pt;"> </font>last<font style="letter-spacing:-0.3pt;"> </font>year.<font style="letter-spacing:-0.3pt;"> </font>And<font style="letter-spacing:-0.3pt;"> </font>just<font style="letter-spacing:-0.25pt;"> </font>by<font style="letter-spacing:-0.3pt;"> </font>way<font style="letter-spacing:-0.3pt;"> </font>of<font style="letter-spacing:-0.3pt;"> </font>illustration,<font style="letter-spacing:-0.3pt;"> </font>if<font style="letter-spacing:-0.3pt;"> </font>you<font style="letter-spacing:-0.3pt;"> </font>--<font style="letter-spacing:-0.3pt;"> </font>and<font style="letter-spacing:-0.3pt;"> </font>just<font style="letter-spacing:-0.3pt;"> </font>to frame<font style="letter-spacing:-0.55pt;"> </font>out<font style="letter-spacing:-0.5pt;"> </font>the<font style="letter-spacing:-0.5pt;"> </font>quantification<font style="letter-spacing:-0.5pt;"> </font>is<font style="letter-spacing:-0.5pt;"> </font>that<font style="letter-spacing:-0.55pt;"> </font>if,<font style="letter-spacing:-0.5pt;"> </font>on<font style="letter-spacing:-0.5pt;"> </font>average,<font style="letter-spacing:-0.5pt;"> </font>a<font style="letter-spacing:-0.5pt;"> </font>patient<font style="letter-spacing:-0.55pt;"> </font>had<font style="letter-spacing:-0.5pt;"> </font>a<font style="letter-spacing:-0.5pt;"> </font>reduction<font style="letter-spacing:-0.5pt;"> </font>of<font style="letter-spacing:-0.5pt;"> </font>0.25<font style="letter-spacing:-0.55pt;"> </font>scripts<font style="letter-spacing:-0.5pt;"> </font>within<font style="letter-spacing:-0.5pt;"> </font>the<font style="letter-spacing:-0.5pt;"> </font>first<font style="letter-spacing:-0.5pt;"> </font>quarter,<font style="letter-spacing:-0.55pt;"> </font>that<font style="letter-spacing:-0.5pt;"> </font>would<font style="letter-spacing:-0.5pt;"> </font>have<font style="letter-spacing:-0.5pt;"> </font>a<font style="letter-spacing:-0.5pt;"> </font>sequential headwind<font style="letter-spacing:-1.05pt;"> </font>of<font style="letter-spacing:-1pt;"> </font>between<font style="letter-spacing:-1pt;"> </font>4,000<font style="letter-spacing:-1pt;"> </font>and<font style="letter-spacing:-1pt;"> </font>5,000<font style="letter-spacing:-1pt;"> </font>TRx.<font style="letter-spacing:-1pt;"> </font>So<font style="letter-spacing:-1.05pt;"> </font>it<font style="letter-spacing:-1pt;"> </font>could<font style="letter-spacing:-1pt;"> </font>be<font style="letter-spacing:-1pt;"> </font>a<font style="letter-spacing:-1pt;"> </font>meaningful<font style="letter-spacing:-1pt;"> </font>impact.<font style="letter-spacing:-1pt;"> </font>It's<font style="letter-spacing:-1.05pt;"> </font>not<font style="letter-spacing:-1pt;"> </font>unique<font style="letter-spacing:-1pt;"> </font>to<font style="letter-spacing:-1pt;"> </font>us,<font style="letter-spacing:-1pt;"> </font>this<font style="letter-spacing:-1pt;"> </font>happens<font style="letter-spacing:-1pt;"> </font>to<font style="letter-spacing:-1.05pt;"> </font>many<font style="letter-spacing:-1pt;"> </font>that<font style="letter-spacing:-1pt;"> </font>have<font style="letter-spacing:-1pt;"> </font>--<font style="letter-spacing:-1pt;"> </font>our<font style="letter-spacing:-1pt;"> </font>specialty tier<font style="letter-spacing:-1.4pt;"> </font>medicines.<font style="letter-spacing:-1.35pt;"> </font>And<font style="letter-spacing:-1.35pt;"> </font>it<font style="letter-spacing:-1.35pt;"> </font>is<font style="letter-spacing:-1.35pt;"> </font>clearly<font style="letter-spacing:-1.35pt;"> </font>not<font style="letter-spacing:-1.4pt;"> </font>a<font style="letter-spacing:-1.35pt;"> </font>reflection<font style="letter-spacing:-1.35pt;"> </font>of<font style="letter-spacing:-1.35pt;"> </font>the<font style="letter-spacing:-1.35pt;"> </font>underlying<font style="letter-spacing:-1.35pt;"> </font>demand<font style="letter-spacing:-1.4pt;"> </font>for<font style="letter-spacing:-1.35pt;"> </font>INGREZZA,<font style="letter-spacing:-1.35pt;"> </font>it's<font style="letter-spacing:-1.35pt;"> </font>purely<font style="letter-spacing:-1.35pt;"> </font>just<font style="letter-spacing:-1.35pt;"> </font>a<font style="letter-spacing:-1.35pt;"> </font>fulfillment<font style="letter-spacing:-1.4pt;"> </font>challenge<font style="letter-spacing:-1.35pt;"> </font>that<font style="letter-spacing:-1.35pt;"> </font>you<font style="letter-spacing:-1.35pt;"> </font>work<font style="letter-spacing:-1.35pt;"> </font>through, and<font style="letter-spacing:-0.3pt;"> </font>the<font style="letter-spacing:-0.25pt;"> </font>teams<font style="letter-spacing:-0.3pt;"> </font>are<font style="letter-spacing:-0.25pt;"> </font>working<font style="letter-spacing:-0.25pt;"> </font>hard<font style="letter-spacing:-0.3pt;"> </font>through<font style="letter-spacing:-0.25pt;"> </font>right<font style="letter-spacing:-0.25pt;"> </font>now.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="7._Eric_S._Benevich"></a><a name="_bookmark6"></a>And<font style="letter-spacing:-0.25pt;"> </font>then<font style="letter-spacing:-0.2pt;"> </font>the<font style="letter-spacing:-0.25pt;"> </font>third<font style="letter-spacing:-0.2pt;"> </font>item<font style="letter-spacing:-0.25pt;"> </font>is<font style="letter-spacing:-0.2pt;"> </font>the<font style="letter-spacing:-0.25pt;"> </font>inventory<font style="letter-spacing:-0.2pt;"> </font>bleed<font style="letter-spacing:-0.25pt;"> </font>that<font style="letter-spacing:-0.2pt;"> </font>you<font style="letter-spacing:-0.25pt;"> </font>just<font style="letter-spacing:-0.2pt;"> </font>brought<font style="letter-spacing:-0.25pt;"> </font>up.<font style="letter-spacing:-0.2pt;"> </font>We<font style="letter-spacing:-0.2pt;"> </font>have<font style="letter-spacing:-0.25pt;"> </font>that<font style="letter-spacing:-0.2pt;"> </font>$11<font style="letter-spacing:-0.25pt;"> </font>million<font style="letter-spacing:-0.2pt;"> </font>build,<font style="letter-spacing:-0.25pt;"> </font>it's<font style="letter-spacing:-0.2pt;"> </font>hard<font style="letter-spacing:-0.25pt;"> </font>to<font style="letter-spacing:-0.2pt;"> </font>predict<font style="letter-spacing:-0.25pt;"> </font>[how]<font style="letter-spacing:-0.2pt;"> </font>that<font style="letter-spacing:-0.25pt;"> </font>will<font style="letter-spacing:-0.2pt;"> </font><a name="7._Eric_S._Benevich"></a><a name="_bookmark6"></a>materialize in the first quarter, but it's surely something that should be on your radar as far as setting expectations. And I'd just say, although I'm highlighting all these Q1 dynamics, the real emphasis here is just to make sure people understand and set appropriate expectations for the first quarter, but <font style="letter-spacing:-0.35pt;">it </font>does<font style="letter-spacing:-0.4pt;"> </font>not<font style="letter-spacing:-0.4pt;"> </font>reflect<font style="letter-spacing:-0.4pt;"> </font>our<font style="letter-spacing:-0.4pt;"> </font>long-term<font style="letter-spacing:-0.4pt;"> </font>belief<font style="letter-spacing:-0.4pt;"> </font>in<font style="letter-spacing:-0.35pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>opportunity<font style="letter-spacing:-0.4pt;"> </font>that<font style="letter-spacing:-0.4pt;"> </font>we<font style="letter-spacing:-0.4pt;"> </font>have<font style="letter-spacing:-0.4pt;"> </font>within<font style="letter-spacing:-0.35pt;"> </font>2020<font style="letter-spacing:-0.4pt;"> </font>to<font style="letter-spacing:-0.4pt;"> </font>help<font style="letter-spacing:-0.4pt;"> </font>many<font style="letter-spacing:-0.4pt;"> </font>more<font style="letter-spacing:-0.4pt;"> </font>patients<font style="letter-spacing:-0.35pt;"> </font>with<font style="letter-spacing:-0.4pt;"> </font>INGREZZA.<font style="letter-spacing:-0.4pt;"> </font>We're<font style="letter-spacing:-0.4pt;"> </font>in<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>mid-teens of diagnosis with a fraction of that actually receiving treatment. We have a lot of opportunity ahead of us, but very complicated but we're working through this Q1 dynamic, and we wanted to make sure we provided adequate color. Anything else,<font style="letter-spacing:-0.8pt;"> </font>Eric?</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Eric S. Benevich <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - Chief Commercial Officer</font></p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Yes.<font style="letter-spacing:-0.7pt;"> </font>Paul,<font style="letter-spacing:-0.7pt;"> </font>if<font style="letter-spacing:-0.7pt;"> </font>I<font style="letter-spacing:-0.7pt;"> </font>remember<font style="letter-spacing:-0.65pt;"> </font>correctly,<font style="letter-spacing:-0.7pt;"> </font>the<font style="letter-spacing:-0.7pt;"> </font>first<font style="letter-spacing:-0.7pt;"> </font>part<font style="letter-spacing:-0.7pt;"> </font>of<font style="letter-spacing:-0.7pt;"> </font>your<font style="letter-spacing:-0.65pt;"> </font>question<font style="letter-spacing:-0.7pt;"> </font>was<font style="letter-spacing:-0.7pt;"> </font>really<font style="letter-spacing:-0.7pt;"> </font>related<font style="letter-spacing:-0.7pt;"> </font>to<font style="letter-spacing:-0.65pt;"> </font>contracting<font style="letter-spacing:-0.7pt;"> </font>activity<font style="letter-spacing:-0.7pt;"> </font>and<font style="letter-spacing:-0.7pt;"> </font>sort<font style="letter-spacing:-0.7pt;"> </font>of<font style="letter-spacing:-0.65pt;"> </font>expectations<font style="letter-spacing:-0.7pt;"> </font>for<font style="letter-spacing:-0.7pt;"> </font>coverage<font style="letter-spacing:-0.7pt;"> </font>in 2020.<font style="letter-spacing:-1.15pt;"> </font>So<font style="letter-spacing:-1.15pt;"> </font>I'll<font style="letter-spacing:-1.15pt;"> </font>start<font style="letter-spacing:-1.15pt;"> </font>off<font style="letter-spacing:-1.15pt;"> </font>by<font style="letter-spacing:-1.15pt;"> </font>saying<font style="letter-spacing:-1.15pt;"> </font>that<font style="letter-spacing:-1.15pt;"> </font>patient<font style="letter-spacing:-1.15pt;"> </font>access<font style="letter-spacing:-1.15pt;"> </font>is<font style="letter-spacing:-1.15pt;"> </font>critically<font style="letter-spacing:-1.15pt;"> </font>important<font style="letter-spacing:-1.15pt;"> </font>for<font style="letter-spacing:-1.15pt;"> </font>us.<font style="letter-spacing:-1.15pt;"> </font>And<font style="letter-spacing:-1.15pt;"> </font>throughout<font style="letter-spacing:-1.15pt;"> </font>the<font style="letter-spacing:-1.15pt;"> </font>course<font style="letter-spacing:-1.15pt;"> </font>of<font style="letter-spacing:-1.15pt;"> </font>the<font style="letter-spacing:-1.15pt;"> </font>launch,<font style="letter-spacing:-1.15pt;"> </font>we've<font style="letter-spacing:-1.15pt;"> </font>invested<font style="letter-spacing:-1.15pt;"> </font>significantly</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="gkqtdup4fqpe000003.jpg" title="" alt="" style="width:186px;height:39px;"></a>
<p style="margin-top:12pt;margin-bottom:0pt;margin-left:0.54%;text-indent:0%;font-family:Calibri;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="color:#666666;font-size:8pt;">6</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0.18%;text-indent:0%;color:#666666;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">THOMSON REUTERS STREETEVENTS | www.streetevents.com | Contact Us</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0.18%;text-indent:0%;color:#666666;font-size:5.5pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#169;2020 Thomson Reuters. All rights reserved. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is prohibited without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and <font style="letter-spacing:-0.2pt;">its </font>affiliated companies.</p></p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="gkqtdup4fqpe000002.jpg" title="" alt="" style="width:720px;height:28px;">
<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0.18%;text-indent:0%;color:#FFFFFF;font-size:12pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">FEBRUARY<font style="letter-spacing:-0.5pt;"> </font>04,<font style="letter-spacing:-0.5pt;"> </font>2020<font style="letter-spacing:-0.5pt;"> </font>/<font style="letter-spacing:-0.5pt;"> </font>9:30PM,<font style="letter-spacing:-0.5pt;"> </font>NBIX<font style="letter-spacing:-0.5pt;"> </font>-<font style="letter-spacing:-0.45pt;"> </font>Q4<font style="letter-spacing:-0.5pt;"> </font>2019<font style="letter-spacing:-0.5pt;"> </font>Neurocrine<font style="letter-spacing:-0.5pt;"> </font>Biosciences<font style="letter-spacing:-0.5pt;"> </font>Inc<font style="letter-spacing:-0.5pt;"> </font>Earnings<font style="letter-spacing:-0.45pt;"> </font>Call</p></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">in<font style="letter-spacing:-0.5pt;"> </font>making<font style="letter-spacing:-0.5pt;"> </font>sure<font style="letter-spacing:-0.5pt;"> </font>that<font style="letter-spacing:-0.5pt;"> </font>patients<font style="letter-spacing:-0.45pt;"> </font>and<font style="letter-spacing:-0.5pt;"> </font>providers<font style="letter-spacing:-0.5pt;"> </font>have<font style="letter-spacing:-0.5pt;"> </font>relatively<font style="letter-spacing:-0.45pt;"> </font>open<font style="letter-spacing:-0.5pt;"> </font>access<font style="letter-spacing:-0.5pt;"> </font>to<font style="letter-spacing:-0.5pt;"> </font>INGREZZA.<font style="letter-spacing:-0.5pt;"> </font>This<font style="letter-spacing:-0.45pt;"> </font>is<font style="letter-spacing:-0.5pt;"> </font>a<font style="letter-spacing:-0.5pt;"> </font>specialty<font style="letter-spacing:-0.5pt;"> </font>medication,<font style="letter-spacing:-0.45pt;"> </font>virtually<font style="letter-spacing:-0.5pt;"> </font>all<font style="letter-spacing:-0.5pt;"> </font>the<font style="letter-spacing:-0.5pt;"> </font>prescriptions require<font style="letter-spacing:-0.4pt;"> </font>prior<font style="letter-spacing:-0.4pt;"> </font>authorization<font style="letter-spacing:-0.4pt;"> </font>through<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>plan<font style="letter-spacing:-0.4pt;"> </font>before<font style="letter-spacing:-0.4pt;"> </font>those<font style="letter-spacing:-0.4pt;"> </font>claims<font style="letter-spacing:-0.35pt;"> </font>are<font style="letter-spacing:-0.4pt;"> </font>approved<font style="letter-spacing:-0.4pt;"> </font>and<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>patient<font style="letter-spacing:-0.4pt;"> </font>can<font style="letter-spacing:-0.4pt;"> </font>initiate<font style="letter-spacing:-0.4pt;"> </font>treatment.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">But we've really been very pleased with the success that we've had through the early days of the launch and all the way up to current times, with over 70% of written prescriptions being filled. And from an affordability perspective, 3 quarters of patients paying less than $10 per month for fill.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">So<font style="letter-spacing:-1.1pt;"> </font>in<font style="letter-spacing:-1.05pt;"> </font>the<font style="letter-spacing:-1.1pt;"> </font>more<font style="letter-spacing:-1.05pt;"> </font>recent<font style="letter-spacing:-1.1pt;"> </font>phase<font style="letter-spacing:-1.05pt;"> </font>of<font style="letter-spacing:-1.05pt;"> </font>the<font style="letter-spacing:-1.1pt;"> </font>launch,<font style="letter-spacing:-1.05pt;"> </font>we<font style="letter-spacing:-1.1pt;"> </font>started<font style="letter-spacing:-1.05pt;"> </font>to<font style="letter-spacing:-1.1pt;"> </font>gather<font style="letter-spacing:-1.05pt;"> </font>more<font style="letter-spacing:-1.05pt;"> </font>attention<font style="letter-spacing:-1.1pt;"> </font>from<font style="letter-spacing:-1.05pt;"> </font>payers<font style="letter-spacing:-1.1pt;"> </font>as<font style="letter-spacing:-1.05pt;"> </font>INGREZZA<font style="letter-spacing:-1.05pt;"> </font>has<font style="letter-spacing:-1.1pt;"> </font>become<font style="letter-spacing:-1.05pt;"> </font>a<font style="letter-spacing:-1.1pt;"> </font>larger<font style="letter-spacing:-1.05pt;"> </font>brand.<font style="letter-spacing:-1.1pt;"> </font>And<font style="letter-spacing:-1.05pt;"> </font>certainly, we've<font style="letter-spacing:-0.8pt;"> </font>said<font style="letter-spacing:-0.8pt;"> </font>previously<font style="letter-spacing:-0.75pt;"> </font>that<font style="letter-spacing:-0.8pt;"> </font>we<font style="letter-spacing:-0.75pt;"> </font>started<font style="letter-spacing:-0.8pt;"> </font>to<font style="letter-spacing:-0.75pt;"> </font>engage<font style="letter-spacing:-0.8pt;"> </font>selectively<font style="letter-spacing:-0.8pt;"> </font>with<font style="letter-spacing:-0.75pt;"> </font>plans<font style="letter-spacing:-0.8pt;"> </font>in<font style="letter-spacing:-0.75pt;"> </font>terms<font style="letter-spacing:-0.8pt;"> </font>of<font style="letter-spacing:-0.75pt;"> </font>contracting<font style="letter-spacing:-0.8pt;"> </font>activity.<font style="letter-spacing:-0.75pt;"> </font>And<font style="letter-spacing:-0.8pt;"> </font>I<font style="letter-spacing:-0.8pt;"> </font>will<font style="letter-spacing:-0.75pt;"> </font>reemphasize<font style="letter-spacing:-0.8pt;"> </font>the<font style="letter-spacing:-0.75pt;"> </font>word<font style="letter-spacing:-0.8pt;"> </font>selectively because<font style="letter-spacing:-0.45pt;"> </font>over<font style="letter-spacing:-0.45pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>course<font style="letter-spacing:-0.45pt;"> </font>of<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.45pt;"> </font>launch,<font style="letter-spacing:-0.45pt;"> </font>we<font style="letter-spacing:-0.4pt;"> </font>found<font style="letter-spacing:-0.45pt;"> </font>that<font style="letter-spacing:-0.4pt;"> </font>regardless<font style="letter-spacing:-0.45pt;"> </font>of<font style="letter-spacing:-0.45pt;"> </font>whether<font style="letter-spacing:-0.4pt;"> </font>we<font style="letter-spacing:-0.45pt;"> </font>are<font style="letter-spacing:-0.4pt;"> </font>on<font style="letter-spacing:-0.45pt;"> </font>formulary<font style="letter-spacing:-0.4pt;"> </font>or<font style="letter-spacing:-0.45pt;"> </font>not<font style="letter-spacing:-0.45pt;"> </font>on<font style="letter-spacing:-0.4pt;"> </font>formulary.<font style="letter-spacing:-0.45pt;"> </font>We've<font style="letter-spacing:-0.4pt;"> </font>been<font style="letter-spacing:-0.45pt;"> </font>successful<font style="letter-spacing:-0.45pt;"> </font>in securing<font style="letter-spacing:-0.3pt;"> </font>approval<font style="letter-spacing:-0.3pt;"> </font>or<font style="letter-spacing:-0.3pt;"> </font>helping<font style="letter-spacing:-0.25pt;"> </font>to<font style="letter-spacing:-0.3pt;"> </font>secure<font style="letter-spacing:-0.3pt;"> </font>approval<font style="letter-spacing:-0.25pt;"> </font>for<font style="letter-spacing:-0.3pt;"> </font>patients<font style="letter-spacing:-0.3pt;"> </font>in<font style="letter-spacing:-0.25pt;"> </font>need<font style="letter-spacing:-0.3pt;"> </font>of<font style="letter-spacing:-0.3pt;"> </font>INGREZZA.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="8._Kevin_C._Gorman"></a>So<font style="letter-spacing:-0.75pt;"> </font>where<font style="letter-spacing:-0.75pt;"> </font>we<font style="letter-spacing:-0.75pt;"> </font>stand<font style="letter-spacing:-0.75pt;"> </font>today<font style="letter-spacing:-0.75pt;"> </font>is<font style="letter-spacing:-0.7pt;"> </font>that<font style="letter-spacing:-0.75pt;"> </font>we're<font style="letter-spacing:-0.75pt;"> </font>approximately<font style="letter-spacing:-0.75pt;"> </font>a<font style="letter-spacing:-0.75pt;"> </font>month<font style="letter-spacing:-0.75pt;"> </font>into<font style="letter-spacing:-0.7pt;"> </font>the<font style="letter-spacing:-0.75pt;"> </font>quarter<font style="letter-spacing:-0.75pt;"> </font>and<font style="letter-spacing:-0.75pt;"> </font>a<font style="letter-spacing:-0.75pt;"> </font>month<font style="letter-spacing:-0.7pt;"> </font>into<font style="letter-spacing:-0.75pt;"> </font>the<font style="letter-spacing:-0.75pt;"> </font>year.<font style="letter-spacing:-0.75pt;"> </font>We<font style="letter-spacing:-0.75pt;"> </font>feel<font style="letter-spacing:-0.75pt;"> </font>good<font style="letter-spacing:-0.7pt;"> </font>about<font style="letter-spacing:-0.75pt;"> </font>what<font style="letter-spacing:-0.75pt;"> </font>the<font style="letter-spacing:-0.75pt;"> </font>coverage landscape<font style="letter-spacing:-0.45pt;"> </font>looks<font style="letter-spacing:-0.4pt;"> </font>like<font style="letter-spacing:-0.4pt;"> </font>for<font style="letter-spacing:-0.4pt;"> </font>INGREZZA.<font style="letter-spacing:-0.4pt;"> </font>We<font style="letter-spacing:-0.45pt;"> </font>expect<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>access<font style="letter-spacing:-0.4pt;"> </font>to<font style="letter-spacing:-0.4pt;"> </font>remain<font style="letter-spacing:-0.4pt;"> </font>strong<font style="letter-spacing:-0.45pt;"> </font>in<font style="letter-spacing:-0.4pt;"> </font>2020.<font style="letter-spacing:-0.4pt;"> </font>And<font style="letter-spacing:-0.4pt;"> </font>as<font style="letter-spacing:-0.4pt;"> </font>Matt<font style="letter-spacing:-0.45pt;"> </font>said<font style="letter-spacing:-0.4pt;"> </font>in<font style="letter-spacing:-0.4pt;"> </font>his<font style="letter-spacing:-0.4pt;"> </font>prepared<font style="letter-spacing:-0.4pt;"> </font>remarks,<font style="letter-spacing:-0.4pt;"> </font>we<font style="letter-spacing:-0.45pt;"> </font>expect<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font><a name="8._Kevin_C._Gorman"></a>net revenue<font style="letter-spacing:-0.3pt;"> </font>per<font style="letter-spacing:-0.3pt;"> </font>script<font style="letter-spacing:-0.3pt;"> </font>in<font style="letter-spacing:-0.3pt;"> </font>2020<font style="letter-spacing:-0.3pt;"> </font>to<font style="letter-spacing:-0.3pt;"> </font>be<font style="letter-spacing:-0.3pt;"> </font>similar<font style="letter-spacing:-0.3pt;"> </font>to<font style="letter-spacing:-0.25pt;"> </font>what<font style="letter-spacing:-0.3pt;"> </font>it<font style="letter-spacing:-0.3pt;"> </font>was<font style="letter-spacing:-0.3pt;"> </font>in<font style="letter-spacing:-0.3pt;"> </font>2019<font style="letter-spacing:-0.3pt;"> </font>as<font style="letter-spacing:-0.3pt;"> </font>well.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Kevin C. Gorman <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - CEO &amp; Director</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="9._Operator"></a><a name="9._Operator"></a>And about the only thing that I would like to add to what Matt and Eric have said, is that the good news is that we start 2020 with nearly twice as many patients as we started 2019, and that's great. It shows the acceptance of INGREZZA in the patient population and also by our customers, the Allied Health professionals. But the downside of that is, as we've talked about, it leads to the challenge in Q1. And you have seen in the past and&nbsp;&nbsp; as we talked about before, that it's an ebb and flow. So Q1 is the ebb and Q2 generally is the flow as we come out of it and we have a strong year. So that is -- we just wanted to be able to give as much color to this quarter and to the year as we could on this<font style="letter-spacing:-1.05pt;"> </font>call.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="10._Brian_Peter_Skorney"></a><a name="_bookmark7"></a>Operator</p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Next, we'll go to Brian Skorney with Baird.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Brian Peter Skorney <font style="font-style:italic;font-weight:normal;">- Robert W. Baird &amp; Co. Incorporated, Research Division - Senior Research Analyst</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="11._Eiry_Wyn_Roberts"></a>I<font style="letter-spacing:-0.75pt;"> </font>guess<font style="letter-spacing:-0.75pt;"> </font>maybe<font style="letter-spacing:-0.7pt;"> </font>if<font style="letter-spacing:-0.75pt;"> </font>I<font style="letter-spacing:-0.75pt;"> </font>can<font style="letter-spacing:-0.7pt;"> </font>ask<font style="letter-spacing:-0.75pt;"> </font>about<font style="letter-spacing:-0.7pt;"> </font>ACT-709478<font style="letter-spacing:-0.75pt;"> </font>program.<font style="letter-spacing:-0.75pt;"> </font>Can<font style="letter-spacing:-0.7pt;"> </font>you<font style="letter-spacing:-0.75pt;"> </font>just<font style="letter-spacing:-0.75pt;"> </font>kind<font style="letter-spacing:-0.7pt;"> </font>of<font style="letter-spacing:-0.75pt;"> </font>walk<font style="letter-spacing:-0.7pt;"> </font>us<font style="letter-spacing:-0.75pt;"> </font>through<font style="letter-spacing:-0.75pt;"> </font>your<font style="letter-spacing:-0.7pt;"> </font>thoughts<font style="letter-spacing:-0.75pt;"> </font>on<font style="letter-spacing:-0.75pt;"> </font>the<font style="letter-spacing:-0.7pt;"> </font>development<font style="letter-spacing:-0.75pt;"> </font>program,<font style="letter-spacing:-0.7pt;"> </font>how<font style="letter-spacing:-0.75pt;"> </font><a name="11._Eiry_Wyn_Roberts"></a>you envision<font style="letter-spacing:-0.65pt;"> </font>this<font style="letter-spacing:-0.65pt;"> </font>drug<font style="letter-spacing:-0.65pt;"> </font>being<font style="letter-spacing:-0.65pt;"> </font>used?<font style="letter-spacing:-0.65pt;"> </font>And<font style="letter-spacing:-0.65pt;"> </font>maybe<font style="letter-spacing:-0.65pt;"> </font>your<font style="letter-spacing:-0.65pt;"> </font>thoughts<font style="letter-spacing:-0.65pt;"> </font>on<font style="letter-spacing:-0.65pt;"> </font>clinical<font style="letter-spacing:-0.65pt;"> </font>trial<font style="letter-spacing:-0.65pt;"> </font>design<font style="letter-spacing:-0.65pt;"> </font>and<font style="letter-spacing:-0.65pt;"> </font>mechanism?<font style="letter-spacing:-0.65pt;"> </font>How<font style="letter-spacing:-0.65pt;"> </font>you<font style="letter-spacing:-0.65pt;"> </font>can<font style="letter-spacing:-0.65pt;"> </font>overcome<font style="letter-spacing:-0.65pt;"> </font>some<font style="letter-spacing:-0.65pt;"> </font>of<font style="letter-spacing:-0.65pt;"> </font>the<font style="letter-spacing:-0.65pt;"> </font><font style="letter-spacing:-0.1pt;">difficulties, </font>others<font style="letter-spacing:-1.1pt;"> </font>have<font style="letter-spacing:-1.1pt;"> </font>had<font style="letter-spacing:-1.1pt;"> </font>in<font style="letter-spacing:-1.1pt;"> </font>developing<font style="letter-spacing:-1.1pt;"> </font>recent<font style="letter-spacing:-1.1pt;"> </font>drugs<font style="letter-spacing:-1.05pt;"> </font>and<font style="letter-spacing:-1.1pt;"> </font>epileptic<font style="letter-spacing:-1.1pt;"> </font>indications,<font style="letter-spacing:-1.1pt;"> </font>specifically<font style="letter-spacing:-1.1pt;"> </font>thinking<font style="letter-spacing:-1.1pt;"> </font>about<font style="letter-spacing:-1.05pt;"> </font>kind<font style="letter-spacing:-1.1pt;"> </font>of<font style="letter-spacing:-1.1pt;"> </font>the<font style="letter-spacing:-1.1pt;"> </font>recent<font style="letter-spacing:-1.1pt;"> </font>neurosteroids<font style="letter-spacing:-1.1pt;"> </font>that<font style="letter-spacing:-1.05pt;"> </font>are<font style="letter-spacing:-1.1pt;"> </font>primarily GABAergic,<font style="letter-spacing:-1.2pt;"> </font>but<font style="letter-spacing:-1.2pt;"> </font>also<font style="letter-spacing:-1.2pt;"> </font>do<font style="letter-spacing:-1.15pt;"> </font>block<font style="letter-spacing:-1.2pt;"> </font>T-type<font style="letter-spacing:-1.2pt;"> </font>calcium<font style="letter-spacing:-1.2pt;"> </font>channels?<font style="letter-spacing:-1.15pt;"> </font>And<font style="letter-spacing:-1.2pt;"> </font>would<font style="letter-spacing:-1.2pt;"> </font>you<font style="letter-spacing:-1.2pt;"> </font>envision<font style="letter-spacing:-1.15pt;"> </font>this<font style="letter-spacing:-1.2pt;"> </font>Phase<font style="letter-spacing:-1.2pt;"> </font>II<font style="letter-spacing:-1.2pt;"> </font>study<font style="letter-spacing:-1.15pt;"> </font>being<font style="letter-spacing:-1.2pt;"> </font>placebo-controlled<font style="letter-spacing:-1.2pt;"> </font>or<font style="letter-spacing:-1.2pt;"> </font>a<font style="letter-spacing:-1.15pt;"> </font>comparator<font style="letter-spacing:-1.2pt;"> </font>study?</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Eiry Wyn Roberts <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - Chief Medical Officer</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Thanks for the question, Brian. So I think just as an initial statement with respect to the mechanism of action of the Idorsia molecule, this is a very highly potent and very brain penetrant calcium channel antagonist. And we believe that those calcium channel antagonists that have been used&nbsp;&nbsp;&nbsp;&nbsp; in<font style="letter-spacing:-0.2pt;"> </font>the<font style="letter-spacing:-0.15pt;"> </font>past<font style="letter-spacing:-0.15pt;"> </font>and<font style="letter-spacing:-0.15pt;"> </font>quite<font style="letter-spacing:-0.15pt;"> </font>extensively<font style="letter-spacing:-0.2pt;"> </font>form<font style="letter-spacing:-0.15pt;"> </font>the<font style="letter-spacing:-0.15pt;"> </font>mainstay<font style="letter-spacing:-0.15pt;"> </font>of<font style="letter-spacing:-0.15pt;"> </font>epilepsy<font style="letter-spacing:-0.15pt;"> </font>treatment,<font style="letter-spacing:-0.2pt;"> </font>really<font style="letter-spacing:-0.15pt;"> </font>haven't<font style="letter-spacing:-0.15pt;"> </font>been<font style="letter-spacing:-0.15pt;"> </font>able<font style="letter-spacing:-0.15pt;"> </font>to<font style="letter-spacing:-0.15pt;"> </font>fulfill<font style="letter-spacing:-0.2pt;"> </font>the<font style="letter-spacing:-0.15pt;"> </font>promise<font style="letter-spacing:-0.15pt;"> </font>of<font style="letter-spacing:-0.15pt;"> </font>that<font style="letter-spacing:-0.15pt;"> </font>mechanism,<font style="letter-spacing:-0.15pt;"> </font>because of their low potency. And the relationship that has to the inability to dose the doses that can produce the required efficacy without side <font style="letter-spacing:-0.15pt;">effect </font>issues. In many cases, off-target side effect challenges as well. And so in terms of that alone, we believe there is a significant opportunity <font style="letter-spacing:-0.35pt;">to </font>demonstrate value through this mechanism in the field of<font style="letter-spacing:-1pt;"> </font>epilepsy.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">I can't really comment on the development plan for this molecule specifically. As I mentioned earlier, we're still in the option phase with this collaboration. And -- but we are very excited about the opportunity to move forward in this space. And we hope that as the IND becomes approved later this year that we'll be able to say a lot more about our intention to move this molecule forward in the space of initially rare pediatric epilepsy, but subsequently, more broadly in other areas such as those I mentioned earlier, essential tremor and potentially pain.</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="gkqtdup4fqpe000002.jpg" title="" alt="" style="width:720px;height:28px;">
<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0.18%;text-indent:0%;color:#FFFFFF;font-size:12pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">FEBRUARY<font style="letter-spacing:-0.5pt;"> </font>04,<font style="letter-spacing:-0.5pt;"> </font>2020<font style="letter-spacing:-0.5pt;"> </font>/<font style="letter-spacing:-0.5pt;"> </font>9:30PM,<font style="letter-spacing:-0.5pt;"> </font>NBIX<font style="letter-spacing:-0.5pt;"> </font>-<font style="letter-spacing:-0.45pt;"> </font>Q4<font style="letter-spacing:-0.5pt;"> </font>2019<font style="letter-spacing:-0.5pt;"> </font>Neurocrine<font style="letter-spacing:-0.5pt;"> </font>Biosciences<font style="letter-spacing:-0.5pt;"> </font>Inc<font style="letter-spacing:-0.5pt;"> </font>Earnings<font style="letter-spacing:-0.45pt;"> </font>Call</p></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:14.5pt;">&nbsp;</p>
<p style="line-height:1pt;margin-bottom:0pt;margin-top:0pt;margin-left:0.86%;text-indent:0%;font-size:1pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="gkqtdup4fqpe000016.jpg" title="" alt="" style="width:720px;height:1px;"><font style="font-size:9pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:4pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="12._Operator"></a>Operator</p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">And next, we'll go to Brian Abrahams with RBC Capital Markets.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="13._Owen_J._Drinkwater"></a><a name="_bookmark8"></a>Owen J. Drinkwater <font style="font-style:italic;font-weight:normal;">- RBC Capital Markets, Research Division - Associate</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This<font style="letter-spacing:-0.8pt;"> </font>is<font style="letter-spacing:-0.8pt;"> </font>Owen<font style="letter-spacing:-0.8pt;"> </font>on<font style="letter-spacing:-0.8pt;"> </font>for<font style="letter-spacing:-0.8pt;"> </font>Brian.<font style="letter-spacing:-0.8pt;"> </font>So<font style="letter-spacing:-0.75pt;"> </font>2<font style="letter-spacing:-0.8pt;"> </font>for<font style="letter-spacing:-0.8pt;"> </font>me.<font style="letter-spacing:-0.8pt;"> </font>First,<font style="letter-spacing:-0.8pt;"> </font>on<font style="letter-spacing:-0.8pt;"> </font>the<font style="letter-spacing:-0.8pt;"> </font>CAH<font style="letter-spacing:-0.75pt;"> </font>program,<font style="letter-spacing:-0.8pt;"> </font>I<font style="letter-spacing:-0.8pt;"> </font>know<font style="letter-spacing:-0.8pt;"> </font>the<font style="letter-spacing:-0.8pt;"> </font>data<font style="letter-spacing:-0.8pt;"> </font>is<font style="letter-spacing:-0.75pt;"> </font>coming<font style="letter-spacing:-0.8pt;"> </font>in<font style="letter-spacing:-0.8pt;"> </font>March.<font style="letter-spacing:-0.8pt;"> </font>Just<font style="letter-spacing:-0.8pt;"> </font>wondering<font style="letter-spacing:-0.8pt;"> </font>if<font style="letter-spacing:-0.8pt;"> </font>you<font style="letter-spacing:-0.75pt;"> </font>could<font style="letter-spacing:-0.8pt;"> </font>give<font style="letter-spacing:-0.8pt;"> </font>a<font style="letter-spacing:-0.8pt;"> </font>little<font style="letter-spacing:-0.8pt;"> </font>more color<font style="letter-spacing:-0.85pt;"> </font>on<font style="letter-spacing:-0.85pt;"> </font>maybe<font style="letter-spacing:-0.8pt;"> </font>what<font style="letter-spacing:-0.85pt;"> </font>we<font style="letter-spacing:-0.8pt;"> </font>should<font style="letter-spacing:-0.85pt;"> </font>expect<font style="letter-spacing:-0.8pt;"> </font>to<font style="letter-spacing:-0.85pt;"> </font>see<font style="letter-spacing:-0.85pt;"> </font>there?<font style="letter-spacing:-0.8pt;"> </font>Whether<font style="letter-spacing:-0.85pt;"> </font>you'll<font style="letter-spacing:-0.8pt;"> </font>report<font style="letter-spacing:-0.85pt;"> </font>sort<font style="letter-spacing:-0.8pt;"> </font>of<font style="letter-spacing:-0.85pt;"> </font>patient-by-patient<font style="letter-spacing:-0.85pt;"> </font>or<font style="letter-spacing:-0.8pt;"> </font>whether<font style="letter-spacing:-0.85pt;"> </font>you'll<font style="letter-spacing:-0.8pt;"> </font>have<font style="letter-spacing:-0.85pt;"> </font>a<font style="letter-spacing:-0.8pt;"> </font>responder<font style="letter-spacing:-0.85pt;"> </font>analysis versus absolute reductions in the<font style="letter-spacing:-1.4pt;"> </font>biomarkers?</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="14._Eiry_Wyn_Roberts"></a>And<font style="letter-spacing:-0.4pt;"> </font>then<font style="letter-spacing:-0.4pt;"> </font>second<font style="letter-spacing:-0.4pt;"> </font>one<font style="letter-spacing:-0.4pt;"> </font>actually<font style="letter-spacing:-0.4pt;"> </font>on<font style="letter-spacing:-0.4pt;"> </font>opicapone,<font style="letter-spacing:-0.4pt;"> </font>just<font style="letter-spacing:-0.4pt;"> </font>wondering<font style="letter-spacing:-0.35pt;"> </font>about<font style="letter-spacing:-0.4pt;"> </font>how<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>familiarity<font style="letter-spacing:-0.4pt;"> </font>is<font style="letter-spacing:-0.4pt;"> </font>with<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>U.S.<font style="letter-spacing:-0.35pt;"> </font>physician<font style="letter-spacing:-0.4pt;"> </font>population,<font style="letter-spacing:-0.4pt;"> </font>given<font style="letter-spacing:-0.4pt;"> </font>that<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font><font style="letter-spacing:-0.15pt;">drug </font>has<font style="letter-spacing:-1.45pt;"> </font>been<font style="letter-spacing:-1.4pt;"> </font>approved<font style="letter-spacing:-1.45pt;"> </font>in<font style="letter-spacing:-1.4pt;"> </font>Europe,<font style="letter-spacing:-1.45pt;"> </font>and<font style="letter-spacing:-1.4pt;"> </font>maybe<font style="letter-spacing:-1.4pt;"> </font>there's<font style="letter-spacing:-1.45pt;"> </font>some<font style="letter-spacing:-1.4pt;"> </font>crosstalk<font style="letter-spacing:-1.45pt;"> </font>there.<font style="letter-spacing:-1.4pt;"> </font>Just<font style="letter-spacing:-1.45pt;"> </font>general<font style="letter-spacing:-1.4pt;"> </font>familiarity<font style="letter-spacing:-1.4pt;"> </font>with<font style="letter-spacing:-1.45pt;"> </font>the<font style="letter-spacing:-1.4pt;"> </font>drug<font style="letter-spacing:-1.45pt;"> </font>and<font style="letter-spacing:-1.4pt;"> </font>the<font style="letter-spacing:-1.45pt;"> </font>approach<font style="letter-spacing:-1.4pt;"> </font>that<font style="letter-spacing:-1.4pt;"> </font>could<font style="letter-spacing:-1.45pt;"> </font><a name="14._Eiry_Wyn_Roberts"></a>potentially drive the<font style="letter-spacing:-0.55pt;"> </font>launch?</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Eiry Wyn Roberts <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - Chief Medical Officer</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Well, thanks, Owen. First with CAH, and we will be reporting the data from all 4 cohorts of the adult proof-of-concept study. As I think we've mentioned<font style="letter-spacing:-0.6pt;"> </font>before,<font style="letter-spacing:-0.6pt;"> </font>the<font style="letter-spacing:-0.6pt;"> </font>design<font style="letter-spacing:-0.6pt;"> </font>of<font style="letter-spacing:-0.6pt;"> </font>that<font style="letter-spacing:-0.6pt;"> </font>study<font style="letter-spacing:-0.6pt;"> </font>was<font style="letter-spacing:-0.6pt;"> </font>an<font style="letter-spacing:-0.6pt;"> </font>adaptive<font style="letter-spacing:-0.6pt;"> </font>study,<font style="letter-spacing:-0.6pt;"> </font>which<font style="letter-spacing:-0.6pt;"> </font>allowed<font style="letter-spacing:-0.6pt;"> </font>us<font style="letter-spacing:-0.6pt;"> </font>to<font style="letter-spacing:-0.6pt;"> </font>look<font style="letter-spacing:-0.6pt;"> </font>at<font style="letter-spacing:-0.6pt;"> </font>optimizing<font style="letter-spacing:-0.6pt;"> </font>both<font style="letter-spacing:-0.6pt;"> </font>dose<font style="letter-spacing:-0.6pt;"> </font>and<font style="letter-spacing:-0.6pt;"> </font>dosing<font style="letter-spacing:-0.6pt;"> </font>schedule<font style="letter-spacing:-0.6pt;"> </font>for<font style="letter-spacing:-0.55pt;"> </font>the CAH<font style="letter-spacing:-0.3pt;"> </font>program<font style="letter-spacing:-0.25pt;"> </font>in<font style="letter-spacing:-0.3pt;"> </font>molecule<font style="letter-spacing:-0.25pt;"> </font>crinecerfont<font style="letter-spacing:-0.25pt;"> </font>in<font style="letter-spacing:-0.3pt;"> </font>adults.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In<font style="letter-spacing:-0.3pt;"> </font>terms<font style="letter-spacing:-0.25pt;"> </font>of<font style="letter-spacing:-0.25pt;"> </font>the<font style="letter-spacing:-0.25pt;"> </font>type<font style="letter-spacing:-0.3pt;"> </font>of<font style="letter-spacing:-0.25pt;"> </font>data<font style="letter-spacing:-0.25pt;"> </font>we<font style="letter-spacing:-0.25pt;"> </font>will<font style="letter-spacing:-0.3pt;"> </font>be<font style="letter-spacing:-0.25pt;"> </font>presenting,<font style="letter-spacing:-0.25pt;"> </font>obviously,<font style="letter-spacing:-0.25pt;"> </font>that<font style="letter-spacing:-0.3pt;"> </font>is<font style="letter-spacing:-0.25pt;"> </font>a<font style="letter-spacing:-0.25pt;"> </font>14-day<font style="letter-spacing:-0.25pt;"> </font>treatment,<font style="letter-spacing:-0.3pt;"> </font>proof-of-concept<font style="letter-spacing:-0.25pt;"> </font>study.<font style="letter-spacing:-0.25pt;"> </font>So<font style="letter-spacing:-0.25pt;"> </font>we<font style="letter-spacing:-0.3pt;"> </font>will<font style="letter-spacing:-0.25pt;"> </font>be<font style="letter-spacing:-0.25pt;"> </font>presenting<font style="letter-spacing:-0.25pt;"> </font><font style="letter-spacing:-0.2pt;">both </font>summary<font style="letter-spacing:-1.4pt;"> </font>and<font style="letter-spacing:-1.4pt;"> </font>individual<font style="letter-spacing:-1.4pt;"> </font>data<font style="letter-spacing:-1.35pt;"> </font>around<font style="letter-spacing:-1.4pt;"> </font>the<font style="letter-spacing:-1.4pt;"> </font>biomarkers<font style="letter-spacing:-1.35pt;"> </font>measured<font style="letter-spacing:-1.4pt;"> </font>and<font style="letter-spacing:-1.4pt;"> </font>several<font style="letter-spacing:-1.35pt;"> </font>different<font style="letter-spacing:-1.4pt;"> </font>approaches<font style="letter-spacing:-1.4pt;"> </font>to<font style="letter-spacing:-1.35pt;"> </font>the<font style="letter-spacing:-1.4pt;"> </font>analysis<font style="letter-spacing:-1.4pt;"> </font>of<font style="letter-spacing:-1.4pt;"> </font>those<font style="letter-spacing:-1.35pt;"> </font>data.<font style="letter-spacing:-1.4pt;"> </font>As<font style="letter-spacing:-1.4pt;"> </font>I<font style="letter-spacing:-1.35pt;"> </font>think<font style="letter-spacing:-1.4pt;"> </font>I<font style="letter-spacing:-1.4pt;"> </font>mentioned earlier,<font style="letter-spacing:-0.4pt;"> </font>that<font style="letter-spacing:-0.35pt;"> </font>presentation<font style="letter-spacing:-0.35pt;"> </font>will<font style="letter-spacing:-0.35pt;"> </font>be<font style="letter-spacing:-0.35pt;"> </font>an<font style="letter-spacing:-0.35pt;"> </font>oral<font style="letter-spacing:-0.35pt;"> </font>presentation<font style="letter-spacing:-0.35pt;"> </font>on<font style="letter-spacing:-0.35pt;"> </font>March<font style="letter-spacing:-0.4pt;"> </font>30<font style="letter-spacing:-0.35pt;"> </font>in<font style="letter-spacing:-0.35pt;"> </font>San<font style="letter-spacing:-0.35pt;"> </font>Francisco<font style="letter-spacing:-0.35pt;"> </font>at<font style="letter-spacing:-0.35pt;"> </font>the<font style="letter-spacing:-0.35pt;"> </font>ENDO<font style="letter-spacing:-0.35pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>thing.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Beyond that, we're very pleased with where we are with the CAH program, both in adults and in pediatrics. Clarity on the adult registrational path forward at the end of last year from agencies both in the U.S. and Europe. And we're moving ahead to implement the adult registration trial, which will be a global trial, starting in the middle of this year, and we continue to make progress with the pediatric program as well.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">With respect to opicapone, our medical affairs organization in preparation for the upcoming PDUFA date in April, has been working hard with the neurology community to help educate around the role of COMT. We believe that there has been a little opportunity to deliver on the promise of COMT with the currently available COMT inhibitors that are available in the U.S. right now. And so as we interact with neurologists, we hear excitement from those prescribers about the opportunity to bring forward another potential option for their patients with motor fluctuation.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="15._Operator"></a>In particular, we are very encouraged by the profile that we see for opicapone. It's a very straightforward, once-a-day treatment with an extensive clinical trial program that demonstrated a really favorable benefit-risk profile. And we are very much looking forward to bringing that forward for patients in the United States.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="16._Tessa_Thomas_Romero"></a><a name="_bookmark9"></a>Operator</p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">And next, we'll go to Anupam Rama with JPMorgan.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Tessa Thomas Romero <font style="font-style:italic;font-weight:normal;">- JP Morgan Chase &amp; Co, Research Division - Associate</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Great.<font style="letter-spacing:-0.65pt;"> </font>Good<font style="letter-spacing:-0.65pt;"> </font>afternoon.<font style="letter-spacing:-0.65pt;"> </font>This<font style="letter-spacing:-0.65pt;"> </font>is<font style="letter-spacing:-0.6pt;"> </font>Tessa<font style="letter-spacing:-0.65pt;"> </font>on<font style="letter-spacing:-0.65pt;"> </font>the<font style="letter-spacing:-0.65pt;"> </font>call<font style="letter-spacing:-0.65pt;"> </font>today<font style="letter-spacing:-0.6pt;"> </font>for<font style="letter-spacing:-0.65pt;"> </font>Anupam.<font style="letter-spacing:-0.65pt;"> </font>Maybe<font style="letter-spacing:-0.65pt;"> </font>one<font style="letter-spacing:-0.65pt;"> </font>from<font style="letter-spacing:-0.6pt;"> </font>us<font style="letter-spacing:-0.65pt;"> </font>on<font style="letter-spacing:-0.65pt;"> </font>the<font style="letter-spacing:-0.65pt;"> </font>KINECT-HD<font style="letter-spacing:-0.6pt;"> </font>study<font style="letter-spacing:-0.65pt;"> </font>in<font style="letter-spacing:-0.65pt;"> </font>Huntington's<font style="letter-spacing:-0.65pt;"> </font>disease.<font style="letter-spacing:-0.65pt;"> </font>Perhaps you<font style="letter-spacing:-0.3pt;"> </font>might<font style="letter-spacing:-0.3pt;"> </font>review<font style="letter-spacing:-0.3pt;"> </font>for<font style="letter-spacing:-0.25pt;"> </font>us<font style="letter-spacing:-0.3pt;"> </font>any<font style="letter-spacing:-0.3pt;"> </font>gating<font style="letter-spacing:-0.3pt;"> </font>factors<font style="letter-spacing:-0.25pt;"> </font>to<font style="letter-spacing:-0.3pt;"> </font>initiating<font style="letter-spacing:-0.3pt;"> </font>in<font style="letter-spacing:-0.3pt;"> </font>that<font style="letter-spacing:-0.25pt;"> </font>study.<font style="letter-spacing:-0.3pt;"> </font>I<font style="letter-spacing:-0.3pt;"> </font>think<font style="letter-spacing:-0.3pt;"> </font>that<font style="letter-spacing:-0.25pt;"> </font>guidance<font style="letter-spacing:-0.3pt;"> </font>there<font style="letter-spacing:-0.3pt;"> </font>is<font style="letter-spacing:-0.3pt;"> </font>the<font style="letter-spacing:-0.25pt;"> </font>first<font style="letter-spacing:-0.3pt;"> </font>half<font style="letter-spacing:-0.3pt;"> </font>of<font style="letter-spacing:-0.25pt;"> </font>this<font style="letter-spacing:-0.3pt;"> </font>year<font style="letter-spacing:-0.3pt;"> </font>and<font style="letter-spacing:-0.3pt;"> </font>then<font style="letter-spacing:-0.25pt;"> </font>maybe<font style="letter-spacing:-0.3pt;"> </font>you might<font style="letter-spacing:-0.3pt;"> </font>comment<font style="letter-spacing:-0.3pt;"> </font>on<font style="letter-spacing:-0.3pt;"> </font>overall<font style="letter-spacing:-0.3pt;"> </font>rationale<font style="letter-spacing:-0.3pt;"> </font>to<font style="letter-spacing:-0.3pt;"> </font>pursue<font style="letter-spacing:-0.3pt;"> </font>this<font style="letter-spacing:-0.3pt;"> </font>indication<font style="letter-spacing:-0.3pt;"> </font>given<font style="letter-spacing:-0.3pt;"> </font>competition<font style="letter-spacing:-0.3pt;"> </font>in<font style="letter-spacing:-0.3pt;"> </font>the<font style="letter-spacing:-0.3pt;"> </font>space?</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="gkqtdup4fqpe000002.jpg" title="" alt="" style="width:720px;height:28px;">
<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0.18%;text-indent:0%;color:#FFFFFF;font-size:12pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">FEBRUARY<font style="letter-spacing:-0.5pt;"> </font>04,<font style="letter-spacing:-0.5pt;"> </font>2020<font style="letter-spacing:-0.5pt;"> </font>/<font style="letter-spacing:-0.5pt;"> </font>9:30PM,<font style="letter-spacing:-0.5pt;"> </font>NBIX<font style="letter-spacing:-0.5pt;"> </font>-<font style="letter-spacing:-0.45pt;"> </font>Q4<font style="letter-spacing:-0.5pt;"> </font>2019<font style="letter-spacing:-0.5pt;"> </font>Neurocrine<font style="letter-spacing:-0.5pt;"> </font>Biosciences<font style="letter-spacing:-0.5pt;"> </font>Inc<font style="letter-spacing:-0.5pt;"> </font>Earnings<font style="letter-spacing:-0.45pt;"> </font>Call</p></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:14.5pt;">&nbsp;</p>
<p style="line-height:1pt;margin-bottom:0pt;margin-top:0pt;margin-left:0.86%;text-indent:0%;font-size:1pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="gkqtdup4fqpe000019.jpg" title="" alt="" style="width:720px;height:1px;"><font style="font-size:9pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:4pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="17._Eiry_Wyn_Roberts"></a>Eiry Wyn Roberts <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - Chief Medical Officer</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Thanks<font style="letter-spacing:-1.1pt;"> </font>so<font style="letter-spacing:-1.05pt;"> </font>much,<font style="letter-spacing:-1.1pt;"> </font>Tessa,<font style="letter-spacing:-1.05pt;"> </font>it's<font style="letter-spacing:-1.05pt;"> </font>Eiry<font style="letter-spacing:-1.1pt;"> </font>here.<font style="letter-spacing:-1.05pt;"> </font>First<font style="letter-spacing:-1.1pt;"> </font>of<font style="letter-spacing:-1.05pt;"> </font>all,<font style="letter-spacing:-1.05pt;"> </font>just<font style="letter-spacing:-1.1pt;"> </font>a<font style="letter-spacing:-1.05pt;"> </font>clarification,<font style="letter-spacing:-1.1pt;"> </font>we<font style="letter-spacing:-1.05pt;"> </font>actually<font style="letter-spacing:-1.05pt;"> </font>did<font style="letter-spacing:-1.1pt;"> </font>initiate<font style="letter-spacing:-1.05pt;"> </font>the<font style="letter-spacing:-1.1pt;"> </font>KINECT-HD<font style="letter-spacing:-1.05pt;"> </font>study<font style="letter-spacing:-1.05pt;"> </font>at<font style="letter-spacing:-1.1pt;"> </font>the<font style="letter-spacing:-1.05pt;"> </font>end<font style="letter-spacing:-1.1pt;"> </font>of<font style="letter-spacing:-1.05pt;"> </font>last<font style="letter-spacing:-1.05pt;"> </font>year<font style="letter-spacing:-1.1pt;"> </font>in<font style="letter-spacing:-1.05pt;"> </font>November. And<font style="letter-spacing:-0.7pt;"> </font>just<font style="letter-spacing:-0.7pt;"> </font>as<font style="letter-spacing:-0.7pt;"> </font>a<font style="letter-spacing:-0.7pt;"> </font>reminder,<font style="letter-spacing:-0.65pt;"> </font>that<font style="letter-spacing:-0.7pt;"> </font>is<font style="letter-spacing:-0.7pt;"> </font>a<font style="letter-spacing:-0.7pt;"> </font>Phase<font style="letter-spacing:-0.7pt;"> </font>III,<font style="letter-spacing:-0.65pt;"> </font>placebo-controlled<font style="letter-spacing:-0.7pt;"> </font>study<font style="letter-spacing:-0.7pt;"> </font>of<font style="letter-spacing:-0.7pt;"> </font>120<font style="letter-spacing:-0.7pt;"> </font>subjects<font style="letter-spacing:-0.65pt;"> </font>with<font style="letter-spacing:-0.7pt;"> </font>Korea<font style="letter-spacing:-0.7pt;"> </font>in<font style="letter-spacing:-0.7pt;"> </font>Huntington's<font style="letter-spacing:-0.65pt;"> </font>disease,<font style="letter-spacing:-0.7pt;"> </font>comparing<font style="letter-spacing:-0.7pt;"> </font>valbenazine<font style="letter-spacing:-0.7pt;"> </font>to placebo<font style="letter-spacing:-0.7pt;"> </font>in<font style="letter-spacing:-0.7pt;"> </font>that<font style="letter-spacing:-0.7pt;"> </font>population.<font style="letter-spacing:-0.7pt;"> </font>And<font style="letter-spacing:-0.7pt;"> </font>we<font style="letter-spacing:-0.65pt;"> </font>anticipate<font style="letter-spacing:-0.7pt;"> </font>that,<font style="letter-spacing:-0.7pt;"> </font>that<font style="letter-spacing:-0.7pt;"> </font>study<font style="letter-spacing:-0.7pt;"> </font>of<font style="letter-spacing:-0.65pt;"> </font>120<font style="letter-spacing:-0.7pt;"> </font>subjects<font style="letter-spacing:-0.7pt;"> </font>will<font style="letter-spacing:-0.7pt;"> </font>be<font style="letter-spacing:-0.7pt;"> </font>enrolled<font style="letter-spacing:-0.65pt;"> </font>over<font style="letter-spacing:-0.7pt;"> </font>this<font style="letter-spacing:-0.7pt;"> </font>year<font style="letter-spacing:-0.7pt;"> </font>and<font style="letter-spacing:-0.7pt;"> </font>that<font style="letter-spacing:-0.65pt;"> </font>we<font style="letter-spacing:-0.7pt;"> </font>will<font style="letter-spacing:-0.7pt;"> </font>have<font style="letter-spacing:-0.7pt;"> </font>data<font style="letter-spacing:-0.7pt;"> </font>sometime in<font style="letter-spacing:-0.3pt;"> </font>2021.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">And the -- with respect to -- can you remind me the second part of your question, Tessa, sorry.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="18._Tessa_Thomas_Romero"></a>Tessa Thomas Romero <font style="font-style:italic;font-weight:normal;">- JP Morgan Chase &amp; Co, Research Division - Associate</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="19._Eiry_Wyn_Roberts"></a><a name="19._Eiry_Wyn_Roberts"></a>Yes. Sorry, I may not come too clearly, realizing that the study is initiating -- has initiated right? I'm wondering overall rationale in the indication given overall competition? And then maybe how you're thinking about differentiation relative to TEVA's AUSTEDO -- AUSTEDO within the same indication?</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Eiry Wyn Roberts <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - Chief Medical Officer</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="20._Operator"></a><a name="20._Operator"></a>Okay, okay. Oh, that's fine. So there are 30,000 patients in the United States with Huntington's disease. Of that population, about 80% to 90% of them troublesome chorea. But even though the VMAT2 mechanism has been proven in that patient population, there's still only about 20% of those patients with chorea that receive treatment with a VMAT2 inhibitor and so from that perspective, we believe there's a significant opportunity left<font style="letter-spacing:-0.2pt;"> </font>to<font style="letter-spacing:-0.2pt;"> </font>serve<font style="letter-spacing:-0.2pt;"> </font>these<font style="letter-spacing:-0.2pt;"> </font>patients<font style="letter-spacing:-0.2pt;"> </font>and<font style="letter-spacing:-0.2pt;"> </font>what<font style="letter-spacing:-0.2pt;"> </font>we're<font style="letter-spacing:-0.2pt;"> </font>particularly<font style="letter-spacing:-0.15pt;"> </font>interested<font style="letter-spacing:-0.2pt;"> </font>in<font style="letter-spacing:-0.2pt;"> </font>is<font style="letter-spacing:-0.2pt;"> </font>the<font style="letter-spacing:-0.2pt;"> </font>profile<font style="letter-spacing:-0.2pt;"> </font>that<font style="letter-spacing:-0.2pt;"> </font>we<font style="letter-spacing:-0.2pt;"> </font>have<font style="letter-spacing:-0.15pt;"> </font>of<font style="letter-spacing:-0.2pt;"> </font>valbenazine,<font style="letter-spacing:-0.2pt;"> </font>with<font style="letter-spacing:-0.2pt;"> </font>its<font style="letter-spacing:-0.2pt;"> </font>once-a-day<font style="letter-spacing:-0.2pt;"> </font>treatment,<font style="letter-spacing:-0.2pt;"> </font>simple titration and favorable better risk<font style="letter-spacing:-0.75pt;"> </font>profile.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="21._Jay_Olson"></a><a name="_bookmark10"></a>Operator</p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">And we'll take our next question from Jay Olson with Oppenheimer.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Jay Olson <font style="font-style:italic;font-weight:normal;">- Oppenheimer &amp; Co. Inc., Research Division - Executive Director &amp; Senior Analyst</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="22._Kyle_W._Gano"></a><a name="_bookmark11"></a>And<font style="letter-spacing:-0.4pt;"> </font>congrats<font style="letter-spacing:-0.35pt;"> </font>on<font style="letter-spacing:-0.4pt;"> </font>all<font style="letter-spacing:-0.35pt;"> </font>the<font style="letter-spacing:-0.35pt;"> </font>business<font style="letter-spacing:-0.4pt;"> </font>development<font style="letter-spacing:-0.35pt;"> </font>activity<font style="letter-spacing:-0.35pt;"> </font>in<font style="letter-spacing:-0.4pt;"> </font>2019.<font style="letter-spacing:-0.35pt;"> </font>I<font style="letter-spacing:-0.35pt;"> </font>was<font style="letter-spacing:-0.4pt;"> </font>wondering<font style="letter-spacing:-0.35pt;"> </font>if<font style="letter-spacing:-0.35pt;"> </font>you<font style="letter-spacing:-0.4pt;"> </font>could<font style="letter-spacing:-0.35pt;"> </font>comment<font style="letter-spacing:-0.35pt;"> </font>on<font style="letter-spacing:-0.4pt;"> </font>your<font style="letter-spacing:-0.35pt;"> </font>plans<font style="letter-spacing:-0.35pt;"> </font>for<font style="letter-spacing:-0.4pt;"> </font>BD<font style="letter-spacing:-0.35pt;"> </font>in<font style="letter-spacing:-0.35pt;"> </font>2020?<font style="letter-spacing:-0.4pt;"> </font>Should<font style="letter-spacing:-0.35pt;"> </font><a name="22._Kyle_W._Gano"></a><a name="_bookmark11"></a>we expect<font style="letter-spacing:-0.65pt;"> </font>you<font style="letter-spacing:-0.65pt;"> </font>to<font style="letter-spacing:-0.65pt;"> </font>do<font style="letter-spacing:-0.6pt;"> </font>some<font style="letter-spacing:-0.65pt;"> </font>more<font style="letter-spacing:-0.65pt;"> </font>of<font style="letter-spacing:-0.65pt;"> </font>the<font style="letter-spacing:-0.6pt;"> </font>types<font style="letter-spacing:-0.65pt;"> </font>of<font style="letter-spacing:-0.65pt;"> </font>deals<font style="letter-spacing:-0.65pt;"> </font>that<font style="letter-spacing:-0.6pt;"> </font>you<font style="letter-spacing:-0.65pt;"> </font>did<font style="letter-spacing:-0.65pt;"> </font>last<font style="letter-spacing:-0.65pt;"> </font>year?<font style="letter-spacing:-0.6pt;"> </font>And<font style="letter-spacing:-0.65pt;"> </font>then<font style="letter-spacing:-0.65pt;"> </font>separately,<font style="letter-spacing:-0.65pt;"> </font>any<font style="letter-spacing:-0.6pt;"> </font>comments<font style="letter-spacing:-0.65pt;"> </font>you<font style="letter-spacing:-0.65pt;"> </font>could<font style="letter-spacing:-0.65pt;"> </font>make<font style="letter-spacing:-0.6pt;"> </font>on<font style="letter-spacing:-0.65pt;"> </font>the<font style="letter-spacing:-0.65pt;"> </font>time<font style="letter-spacing:-0.65pt;"> </font>line<font style="letter-spacing:-0.6pt;"> </font>for the<font style="letter-spacing:-0.4pt;"> </font>collaboration<font style="letter-spacing:-0.4pt;"> </font>with<font style="letter-spacing:-0.4pt;"> </font>Voyager<font style="letter-spacing:-0.4pt;"> </font>on<font style="letter-spacing:-0.4pt;"> </font>Parkinson's<font style="letter-spacing:-0.4pt;"> </font>disease<font style="letter-spacing:-0.4pt;"> </font>gene<font style="letter-spacing:-0.4pt;"> </font>therapy,<font style="letter-spacing:-0.4pt;"> </font>what<font style="letter-spacing:-0.4pt;"> </font>are<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>next<font style="letter-spacing:-0.4pt;"> </font>data<font style="letter-spacing:-0.35pt;"> </font>readouts<font style="letter-spacing:-0.4pt;"> </font>there?<font style="letter-spacing:-0.4pt;"> </font>And<font style="letter-spacing:-0.4pt;"> </font>how<font style="letter-spacing:-0.4pt;"> </font>you<font style="letter-spacing:-0.4pt;"> </font>see<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>competition shaping<font style="letter-spacing:-0.3pt;"> </font>up?</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Kyle W. Gano <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - Chief Business Development and Strategy Officer</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This<font style="letter-spacing:-0.6pt;"> </font>is<font style="letter-spacing:-0.65pt;"> </font>Kyle.<font style="letter-spacing:-0.6pt;"> </font>Thanks<font style="letter-spacing:-0.6pt;"> </font>for<font style="letter-spacing:-0.6pt;"> </font>the<font style="letter-spacing:-0.6pt;"> </font>question.<font style="letter-spacing:-0.6pt;"> </font>On<font style="letter-spacing:-0.6pt;"> </font>the<font style="letter-spacing:-0.6pt;"> </font>BD<font style="letter-spacing:-0.6pt;"> </font>front,<font style="letter-spacing:-0.6pt;"> </font>right<font style="letter-spacing:-0.6pt;"> </font>now,<font style="letter-spacing:-0.6pt;"> </font>there's<font style="letter-spacing:-0.6pt;"> </font>a<font style="letter-spacing:-0.6pt;"> </font>lot<font style="letter-spacing:-0.6pt;"> </font>of<font style="letter-spacing:-0.6pt;"> </font>great<font style="letter-spacing:-0.6pt;"> </font>science<font style="letter-spacing:-0.6pt;"> </font>going<font style="letter-spacing:-0.6pt;"> </font>on<font style="letter-spacing:-0.6pt;"> </font>outside<font style="letter-spacing:-0.6pt;"> </font>the<font style="letter-spacing:-0.6pt;"> </font>doors<font style="letter-spacing:-0.6pt;"> </font>here<font style="letter-spacing:-0.6pt;"> </font>of<font style="letter-spacing:-0.6pt;"> </font>Neurocrine,<font style="letter-spacing:-0.6pt;"> </font>and we<font style="letter-spacing:-0.8pt;"> </font>appreciate<font style="letter-spacing:-0.75pt;"> </font>that.<font style="letter-spacing:-0.8pt;"> </font>And<font style="letter-spacing:-0.75pt;"> </font>considering<font style="letter-spacing:-0.8pt;"> </font>our<font style="letter-spacing:-0.75pt;"> </font>long-term<font style="letter-spacing:-0.8pt;"> </font>goal<font style="letter-spacing:-0.75pt;"> </font>here<font style="letter-spacing:-0.8pt;"> </font>is<font style="letter-spacing:-0.75pt;"> </font>to<font style="letter-spacing:-0.8pt;"> </font>be<font style="letter-spacing:-0.75pt;"> </font>a<font style="letter-spacing:-0.8pt;"> </font>leading<font style="letter-spacing:-0.75pt;"> </font>neuroscience<font style="letter-spacing:-0.8pt;"> </font>company<font style="letter-spacing:-0.75pt;"> </font>and<font style="letter-spacing:-0.8pt;"> </font>a<font style="letter-spacing:-0.75pt;"> </font>global<font style="letter-spacing:-0.8pt;"> </font>one<font style="letter-spacing:-0.75pt;"> </font>with<font style="letter-spacing:-0.8pt;"> </font>studies<font style="letter-spacing:-0.75pt;"> </font>and<font style="letter-spacing:-0.75pt;"> </font>products in<font style="letter-spacing:-0.65pt;"> </font>various<font style="letter-spacing:-0.6pt;"> </font>markets.<font style="letter-spacing:-0.6pt;"> </font>It's<font style="letter-spacing:-0.6pt;"> </font>our<font style="letter-spacing:-0.6pt;"> </font>goal<font style="letter-spacing:-0.6pt;"> </font>here<font style="letter-spacing:-0.6pt;"> </font>at<font style="letter-spacing:-0.6pt;"> </font>Neurocrine<font style="letter-spacing:-0.6pt;"> </font>to<font style="letter-spacing:-0.6pt;"> </font>invest<font style="letter-spacing:-0.6pt;"> </font>both<font style="letter-spacing:-0.6pt;"> </font>internally<font style="letter-spacing:-0.6pt;"> </font>and<font style="letter-spacing:-0.6pt;"> </font>externally.<font style="letter-spacing:-0.6pt;"> </font>So<font style="letter-spacing:-0.6pt;"> </font>we'll<font style="letter-spacing:-0.6pt;"> </font>continue<font style="letter-spacing:-0.6pt;"> </font>to<font style="letter-spacing:-0.6pt;"> </font>look<font style="letter-spacing:-0.6pt;"> </font>for<font style="letter-spacing:-0.6pt;"> </font>projects<font style="letter-spacing:-0.6pt;"> </font>that<font style="letter-spacing:-0.6pt;"> </font>are<font style="letter-spacing:-0.6pt;"> </font>aligned with<font style="letter-spacing:-0.4pt;"> </font>our<font style="letter-spacing:-0.35pt;"> </font>strategic<font style="letter-spacing:-0.4pt;"> </font>thoughts<font style="letter-spacing:-0.35pt;"> </font>and<font style="letter-spacing:-0.35pt;"> </font>goals<font style="letter-spacing:-0.4pt;"> </font>and<font style="letter-spacing:-0.35pt;"> </font>objectives<font style="letter-spacing:-0.35pt;"> </font>here.<font style="letter-spacing:-0.4pt;"> </font>And<font style="letter-spacing:-0.35pt;"> </font>if<font style="letter-spacing:-0.4pt;"> </font>we<font style="letter-spacing:-0.35pt;"> </font>find<font style="letter-spacing:-0.35pt;"> </font>a<font style="letter-spacing:-0.4pt;"> </font>good<font style="letter-spacing:-0.35pt;"> </font>fit,<font style="letter-spacing:-0.35pt;"> </font>we'll<font style="letter-spacing:-0.4pt;"> </font>look<font style="letter-spacing:-0.35pt;"> </font>at<font style="letter-spacing:-0.35pt;"> </font>bringing<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.35pt;"> </font>project<font style="letter-spacing:-0.4pt;"> </font>in-house.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">So<font style="letter-spacing:-0.65pt;"> </font>I<font style="letter-spacing:-0.6pt;"> </font>think<font style="letter-spacing:-0.6pt;"> </font>that<font style="letter-spacing:-0.6pt;"> </font>the<font style="letter-spacing:-0.6pt;"> </font>parting<font style="letter-spacing:-0.65pt;"> </font>word<font style="letter-spacing:-0.6pt;"> </font>here<font style="letter-spacing:-0.6pt;"> </font>is<font style="letter-spacing:-0.6pt;"> </font>we<font style="letter-spacing:-0.6pt;"> </font>continue<font style="letter-spacing:-0.6pt;"> </font>to<font style="letter-spacing:-0.65pt;"> </font>be<font style="letter-spacing:-0.6pt;"> </font>active<font style="letter-spacing:-0.6pt;"> </font>in<font style="letter-spacing:-0.6pt;"> </font>business<font style="letter-spacing:-0.6pt;"> </font>development<font style="letter-spacing:-0.6pt;"> </font>and<font style="letter-spacing:-0.65pt;"> </font>looking<font style="letter-spacing:-0.6pt;"> </font>to<font style="letter-spacing:-0.6pt;"> </font>bring<font style="letter-spacing:-0.6pt;"> </font>new<font style="letter-spacing:-0.6pt;"> </font>programs<font style="letter-spacing:-0.6pt;"> </font>into<font style="letter-spacing:-0.65pt;"> </font>the<font style="letter-spacing:-0.6pt;"> </font>companies if they make<font style="letter-spacing:-0.8pt;"> </font>sense.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0.18%;text-indent:0%;color:#666666;font-size:5.5pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#169;2020 Thomson Reuters. All rights reserved. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is prohibited without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and <font style="letter-spacing:-0.2pt;">its </font>affiliated companies.</p></p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="gkqtdup4fqpe000002.jpg" title="" alt="" style="width:720px;height:28px;">
<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0.18%;text-indent:0%;color:#FFFFFF;font-size:12pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">FEBRUARY<font style="letter-spacing:-0.5pt;"> </font>04,<font style="letter-spacing:-0.5pt;"> </font>2020<font style="letter-spacing:-0.5pt;"> </font>/<font style="letter-spacing:-0.5pt;"> </font>9:30PM,<font style="letter-spacing:-0.5pt;"> </font>NBIX<font style="letter-spacing:-0.5pt;"> </font>-<font style="letter-spacing:-0.45pt;"> </font>Q4<font style="letter-spacing:-0.5pt;"> </font>2019<font style="letter-spacing:-0.5pt;"> </font>Neurocrine<font style="letter-spacing:-0.5pt;"> </font>Biosciences<font style="letter-spacing:-0.5pt;"> </font>Inc<font style="letter-spacing:-0.5pt;"> </font>Earnings<font style="letter-spacing:-0.45pt;"> </font>Call</p></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="23._Eiry_Wyn_Roberts"></a>Eiry Wyn Roberts <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - Chief Medical Officer</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On<font style="letter-spacing:-0.3pt;"> </font>the<font style="letter-spacing:-0.25pt;"> </font>Voyager<font style="letter-spacing:-0.3pt;"> </font>collaboration,<font style="letter-spacing:-0.25pt;"> </font>we<font style="letter-spacing:-0.25pt;"> </font>had<font style="letter-spacing:-0.3pt;"> </font>interactions<font style="letter-spacing:-0.25pt;"> </font>with<font style="letter-spacing:-0.25pt;"> </font>the<font style="letter-spacing:-0.3pt;"> </font>agency<font style="letter-spacing:-0.25pt;"> </font>towards<font style="letter-spacing:-0.3pt;"> </font>the<font style="letter-spacing:-0.25pt;"> </font>end<font style="letter-spacing:-0.25pt;"> </font>of<font style="letter-spacing:-0.3pt;"> </font>last<font style="letter-spacing:-0.25pt;"> </font>year,<font style="letter-spacing:-0.25pt;"> </font>which<font style="letter-spacing:-0.3pt;"> </font>gave<font style="letter-spacing:-0.25pt;"> </font>us<font style="letter-spacing:-0.3pt;"> </font>good<font style="letter-spacing:-0.25pt;"> </font>clarity<font style="letter-spacing:-0.25pt;"> </font>on<font style="letter-spacing:-0.3pt;"> </font>the<font style="letter-spacing:-0.25pt;"> </font>registration program<font style="letter-spacing:-0.35pt;"> </font>for<font style="letter-spacing:-0.3pt;"> </font>Parkinson's<font style="letter-spacing:-0.3pt;"> </font>disease.<font style="letter-spacing:-0.35pt;"> </font>We<font style="letter-spacing:-0.3pt;"> </font>got<font style="letter-spacing:-0.3pt;"> </font>clarity<font style="letter-spacing:-0.35pt;"> </font>on<font style="letter-spacing:-0.3pt;"> </font>the<font style="letter-spacing:-0.3pt;"> </font>RESTORE-1<font style="letter-spacing:-0.3pt;"> </font>trial<font style="letter-spacing:-0.35pt;"> </font>and<font style="letter-spacing:-0.3pt;"> </font>how<font style="letter-spacing:-0.3pt;"> </font>we<font style="letter-spacing:-0.35pt;"> </font>could<font style="letter-spacing:-0.3pt;"> </font>ensure<font style="letter-spacing:-0.3pt;"> </font>that,<font style="letter-spacing:-0.3pt;"> </font>that<font style="letter-spacing:-0.35pt;"> </font>was<font style="letter-spacing:-0.3pt;"> </font>viewed<font style="letter-spacing:-0.3pt;"> </font>as<font style="letter-spacing:-0.35pt;"> </font>a<font style="letter-spacing:-0.3pt;"> </font>registration<font style="letter-spacing:-0.3pt;"> </font><font style="letter-spacing:-0.15pt;">quality </font>study.<font style="letter-spacing:-0.85pt;"> </font>That<font style="letter-spacing:-0.8pt;"> </font>involves<font style="letter-spacing:-0.8pt;"> </font>an<font style="letter-spacing:-0.8pt;"> </font>amendment<font style="letter-spacing:-0.8pt;"> </font>to<font style="letter-spacing:-0.8pt;"> </font>that<font style="letter-spacing:-0.8pt;"> </font>protocol,<font style="letter-spacing:-0.8pt;"> </font>and<font style="letter-spacing:-0.8pt;"> </font>we're<font style="letter-spacing:-0.85pt;"> </font>moving<font style="letter-spacing:-0.8pt;"> </font>forward<font style="letter-spacing:-0.8pt;"> </font>with<font style="letter-spacing:-0.8pt;"> </font>implementing<font style="letter-spacing:-0.8pt;"> </font>the<font style="letter-spacing:-0.8pt;"> </font>amended<font style="letter-spacing:-0.8pt;"> </font>RESTORE-1<font style="letter-spacing:-0.8pt;"> </font>protocol<font style="letter-spacing:-0.8pt;"> </font>right<font style="letter-spacing:-0.85pt;"> </font>now.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In parallel, we're also starting up RESTORE-2, the second pivotal trial, that will be a global trial and will be starting later this year.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:10.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The<font style="letter-spacing:-0.45pt;"> </font>only<font style="letter-spacing:-0.45pt;"> </font>thing<font style="letter-spacing:-0.45pt;"> </font>I'll<font style="letter-spacing:-0.4pt;"> </font>add,<font style="letter-spacing:-0.45pt;"> </font>actually,<font style="letter-spacing:-0.45pt;"> </font>is<font style="letter-spacing:-0.45pt;"> </font>we<font style="letter-spacing:-0.4pt;"> </font>will<font style="letter-spacing:-0.45pt;"> </font>be<font style="letter-spacing:-0.45pt;"> </font>releasing<font style="letter-spacing:-0.45pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>36-month<font style="letter-spacing:-0.45pt;"> </font>data<font style="letter-spacing:-0.45pt;"> </font>from<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.45pt;"> </font>PD-1101<font style="letter-spacing:-0.45pt;"> </font>study,<font style="letter-spacing:-0.45pt;"> </font>which<font style="letter-spacing:-0.4pt;"> </font>was<font style="letter-spacing:-0.45pt;"> </font>the<font style="letter-spacing:-0.45pt;"> </font>dose-finding<font style="letter-spacing:-0.45pt;"> </font>study<font style="letter-spacing:-0.4pt;"> </font>at<font style="letter-spacing:-0.45pt;"> </font>AAN<font style="letter-spacing:-0.45pt;"> </font>this year.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="24._Operator"></a>Operator</p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="25._Laura_Christianson"></a><a name="_bookmark12"></a>And next, we'll go to Laura Christianson with Cowen.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Laura Christianson <font style="font-style:italic;font-weight:normal;">- Cowen and Company, LLC, Research Division - Research Associate</font></p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:1.45%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">I guess, going back to CAH. I'm curious if ENDO data that you're planning on presenting in March will include an analysis comparable to what we can expect in the registrational trial, whether you'll be looking at the same primary endpoint planned for that<font style="letter-spacing:-0.6pt;"> </font>trial?</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="26._Eiry_Wyn_Roberts"></a>And then secondly, in your interactions with the FDA, you have a sense of how important it is to show that the drug allows for a reduction in steroids? And if that will be part of the alternative dosing regimen, one of the cohorts that will be presented?</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Eiry Wyn Roberts <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - Chief Medical Officer</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Well,<font style="letter-spacing:-0.65pt;"> </font>initially,<font style="letter-spacing:-0.65pt;"> </font>the<font style="letter-spacing:-0.6pt;"> </font>proof-of-concept<font style="letter-spacing:-0.65pt;"> </font>study<font style="letter-spacing:-0.6pt;"> </font>is<font style="letter-spacing:-0.65pt;"> </font>a<font style="letter-spacing:-0.6pt;"> </font>2-week<font style="letter-spacing:-0.65pt;"> </font>study,<font style="letter-spacing:-0.6pt;"> </font>dosing<font style="letter-spacing:-0.65pt;"> </font>in<font style="letter-spacing:-0.65pt;"> </font>adult<font style="letter-spacing:-0.6pt;"> </font>subject.<font style="letter-spacing:-0.65pt;"> </font>And<font style="letter-spacing:-0.6pt;"> </font>the<font style="letter-spacing:-0.65pt;"> </font>outcomes<font style="letter-spacing:-0.6pt;"> </font>looked<font style="letter-spacing:-0.65pt;"> </font>at<font style="letter-spacing:-0.6pt;"> </font>in<font style="letter-spacing:-0.65pt;"> </font>that<font style="letter-spacing:-0.6pt;"> </font>exploratory<font style="letter-spacing:-0.65pt;"> </font>study<font style="letter-spacing:-0.65pt;"> </font>where the<font style="letter-spacing:-1pt;"> </font>hormone<font style="letter-spacing:-0.95pt;"> </font>biomarker<font style="letter-spacing:-0.95pt;"> </font>levels.<font style="letter-spacing:-1pt;"> </font>And<font style="letter-spacing:-0.95pt;"> </font>so<font style="letter-spacing:-0.95pt;"> </font>that's<font style="letter-spacing:-1pt;"> </font>what<font style="letter-spacing:-0.95pt;"> </font>we<font style="letter-spacing:-0.95pt;"> </font>will<font style="letter-spacing:-0.95pt;"> </font>be<font style="letter-spacing:-1pt;"> </font>presenting<font style="letter-spacing:-0.95pt;"> </font>together<font style="letter-spacing:-0.95pt;"> </font>with,<font style="letter-spacing:-1pt;"> </font>obviously,<font style="letter-spacing:-0.95pt;"> </font>the<font style="letter-spacing:-0.95pt;"> </font>full<font style="letter-spacing:-1pt;"> </font>tolerability<font style="letter-spacing:-0.95pt;"> </font>profile<font style="letter-spacing:-0.95pt;"> </font>at<font style="letter-spacing:-0.95pt;"> </font>the<font style="letter-spacing:-1pt;"> </font>ENDO<font style="letter-spacing:-0.95pt;"> </font>meeting.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">With respect to the endpoints for the registration trial, we haven't commented to any great extent on that. As soon as the trial will actually is up and running, we will post that on clinicaltrials.gov. And obviously, that will include a full description of the study design and the sample size and also the endpoints that we're looking<font style="letter-spacing:-0.85pt;"> </font>at.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="27._Operator"></a>It's<font style="letter-spacing:-0.55pt;"> </font>clear,<font style="letter-spacing:-0.55pt;"> </font>though,<font style="letter-spacing:-0.5pt;"> </font>that<font style="letter-spacing:-0.55pt;"> </font>the<font style="letter-spacing:-0.55pt;"> </font>steroid<font style="letter-spacing:-0.5pt;"> </font>hormone<font style="letter-spacing:-0.55pt;"> </font>levels<font style="letter-spacing:-0.55pt;"> </font>[Technical<font style="letter-spacing:-0.5pt;"> </font>Difficulty]<font style="letter-spacing:-0.55pt;"> </font>sort<font style="letter-spacing:-0.55pt;"> </font>of<font style="letter-spacing:-0.5pt;"> </font>how<font style="letter-spacing:-0.55pt;"> </font>this<font style="letter-spacing:-0.55pt;"> </font>disease<font style="letter-spacing:-0.5pt;"> </font>is<font style="letter-spacing:-0.55pt;"> </font>managed<font style="letter-spacing:-0.5pt;"> </font>and<font style="letter-spacing:-0.55pt;"> </font>how<font style="letter-spacing:-0.55pt;"> </font>patients<font style="letter-spacing:-0.5pt;"> </font>could<font style="letter-spacing:-0.55pt;"> </font>be<font style="letter-spacing:-0.55pt;"> </font>impacted by<font style="letter-spacing:-1.1pt;"> </font>a<font style="letter-spacing:-1.05pt;"> </font>novel<font style="letter-spacing:-1.05pt;"> </font>treatment<font style="letter-spacing:-1.05pt;"> </font>and<font style="letter-spacing:-1.05pt;"> </font>so<font style="letter-spacing:-1.05pt;"> </font>that<font style="letter-spacing:-1.1pt;"> </font>will<font style="letter-spacing:-1.05pt;"> </font>be<font style="letter-spacing:-1.05pt;"> </font>a<font style="letter-spacing:-1.05pt;"> </font>core<font style="letter-spacing:-1.05pt;"> </font>part<font style="letter-spacing:-1.05pt;"> </font>of<font style="letter-spacing:-1.05pt;"> </font>the<font style="letter-spacing:-1.1pt;"> </font>program<font style="letter-spacing:-1.05pt;"> </font>moving<font style="letter-spacing:-1.05pt;"> </font>forward.<font style="letter-spacing:-1.05pt;"> </font>It's<font style="letter-spacing:-1.05pt;"> </font>also<font style="letter-spacing:-1.05pt;"> </font>very<font style="letter-spacing:-1.05pt;"> </font>important<font style="letter-spacing:-1.1pt;"> </font>to<font style="letter-spacing:-1.05pt;"> </font>us<font style="letter-spacing:-1.05pt;"> </font>that<font style="letter-spacing:-1.05pt;"> </font>we<font style="letter-spacing:-1.05pt;"> </font>understand<font style="letter-spacing:-1.05pt;"> </font>steroid<font style="letter-spacing:-1.1pt;"> </font><font style="letter-spacing:-0.15pt;">dosing </font>in<font style="letter-spacing:-0.3pt;"> </font>the<font style="letter-spacing:-0.3pt;"> </font>context<font style="letter-spacing:-0.25pt;"> </font>of<font style="letter-spacing:-0.3pt;"> </font>use<font style="letter-spacing:-0.25pt;"> </font>of<font style="letter-spacing:-0.3pt;"> </font>this<font style="letter-spacing:-0.25pt;"> </font>new<font style="letter-spacing:-0.3pt;"> </font>novel<font style="letter-spacing:-0.3pt;"> </font>nonsteroid<font style="letter-spacing:-0.25pt;"> </font>mechanism.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="28._Charles_Cliff_Duncan"></a><a name="_bookmark13"></a>Operator</p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Next, we'll go to Charles Duncan with Cantor Fitzgerald.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Charles Cliff Duncan <font style="font-style:italic;font-weight:normal;">- Cantor Fitzgerald &amp; Co., Research Division - Senior Analyst</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">And<font style="letter-spacing:-0.25pt;"> </font>congratulations<font style="letter-spacing:-0.25pt;"> </font>on<font style="letter-spacing:-0.25pt;"> </font>a<font style="letter-spacing:-0.25pt;"> </font>very<font style="letter-spacing:-0.25pt;"> </font>good<font style="letter-spacing:-0.25pt;"> </font>year<font style="letter-spacing:-0.25pt;"> </font>of<font style="letter-spacing:-0.25pt;"> </font>INGREZZA<font style="letter-spacing:-0.25pt;"> </font>growth.<font style="letter-spacing:-0.25pt;"> </font>My<font style="letter-spacing:-0.25pt;"> </font>first<font style="letter-spacing:-0.2pt;"> </font>question<font style="letter-spacing:-0.25pt;"> </font>is<font style="letter-spacing:-0.25pt;"> </font>related<font style="letter-spacing:-0.25pt;"> </font>to<font style="letter-spacing:-0.25pt;"> </font>continued<font style="letter-spacing:-0.25pt;"> </font>INGREZZA<font style="letter-spacing:-0.25pt;"> </font>growth<font style="letter-spacing:-0.25pt;"> </font>and<font style="letter-spacing:-0.25pt;"> </font>not<font style="letter-spacing:-0.25pt;"> </font>to<font style="letter-spacing:-0.25pt;"> </font>be<font style="letter-spacing:-0.25pt;"> </font>overly simplistic,<font style="letter-spacing:-0.5pt;"> </font>but<font style="letter-spacing:-0.45pt;"> </font>I'm<font style="letter-spacing:-0.45pt;"> </font>wondering<font style="letter-spacing:-0.45pt;"> </font>if<font style="letter-spacing:-0.5pt;"> </font>you<font style="letter-spacing:-0.45pt;"> </font>could<font style="letter-spacing:-0.45pt;"> </font>point<font style="letter-spacing:-0.45pt;"> </font>to<font style="letter-spacing:-0.45pt;"> </font>just<font style="letter-spacing:-0.5pt;"> </font>one<font style="letter-spacing:-0.45pt;"> </font>key<font style="letter-spacing:-0.45pt;"> </font>driver<font style="letter-spacing:-0.45pt;"> </font>that<font style="letter-spacing:-0.45pt;"> </font>you<font style="letter-spacing:-0.5pt;"> </font>would<font style="letter-spacing:-0.45pt;"> </font>highlight<font style="letter-spacing:-0.45pt;"> </font>as<font style="letter-spacing:-0.45pt;"> </font>important<font style="letter-spacing:-0.45pt;"> </font>to<font style="letter-spacing:-0.5pt;"> </font>you<font style="letter-spacing:-0.45pt;"> </font>executing<font style="letter-spacing:-0.45pt;"> </font>your<font style="letter-spacing:-0.45pt;"> </font>business<font style="letter-spacing:-0.45pt;"> </font>plan this<font style="letter-spacing:-0.55pt;"> </font>year<font style="letter-spacing:-0.5pt;"> </font>to<font style="letter-spacing:-0.55pt;"> </font>drive<font style="letter-spacing:-0.5pt;"> </font>INGREZZA<font style="letter-spacing:-0.55pt;"> </font>growth?<font style="letter-spacing:-0.5pt;"> </font>Would<font style="letter-spacing:-0.5pt;"> </font>it<font style="letter-spacing:-0.55pt;"> </font>be<font style="letter-spacing:-0.5pt;"> </font>additional<font style="letter-spacing:-0.55pt;"> </font>or<font style="letter-spacing:-0.5pt;"> </font>increased<font style="letter-spacing:-0.5pt;"> </font>diagnosis,<font style="letter-spacing:-0.55pt;"> </font>additional<font style="letter-spacing:-0.5pt;"> </font>penetration<font style="letter-spacing:-0.55pt;"> </font>in<font style="letter-spacing:-0.5pt;"> </font>new<font style="letter-spacing:-0.5pt;"> </font>or<font style="letter-spacing:-0.55pt;"> </font>existing<font style="letter-spacing:-0.5pt;"> </font>prescribers<font style="letter-spacing:-0.55pt;"> </font>or<font style="letter-spacing:-0.5pt;"> </font>such as<font style="letter-spacing:-0.3pt;"> </font>pricing<font style="letter-spacing:-0.3pt;"> </font>change?<font style="letter-spacing:-0.3pt;"> </font>What<font style="letter-spacing:-0.3pt;"> </font>is<font style="letter-spacing:-0.3pt;"> </font>the<font style="letter-spacing:-0.25pt;"> </font>one<font style="letter-spacing:-0.3pt;"> </font>thing<font style="letter-spacing:-0.3pt;"> </font>that<font style="letter-spacing:-0.3pt;"> </font>you<font style="letter-spacing:-0.3pt;"> </font>want<font style="letter-spacing:-0.25pt;"> </font>to<font style="letter-spacing:-0.3pt;"> </font>see<font style="letter-spacing:-0.3pt;"> </font>happen<font style="letter-spacing:-0.3pt;"> </font>this<font style="letter-spacing:-0.3pt;"> </font>year?</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="gkqtdup4fqpe000002.jpg" title="" alt="" style="width:720px;height:28px;">
<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0.18%;text-indent:0%;color:#FFFFFF;font-size:12pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">FEBRUARY<font style="letter-spacing:-0.5pt;"> </font>04,<font style="letter-spacing:-0.5pt;"> </font>2020<font style="letter-spacing:-0.5pt;"> </font>/<font style="letter-spacing:-0.5pt;"> </font>9:30PM,<font style="letter-spacing:-0.5pt;"> </font>NBIX<font style="letter-spacing:-0.5pt;"> </font>-<font style="letter-spacing:-0.45pt;"> </font>Q4<font style="letter-spacing:-0.5pt;"> </font>2019<font style="letter-spacing:-0.5pt;"> </font>Neurocrine<font style="letter-spacing:-0.5pt;"> </font>Biosciences<font style="letter-spacing:-0.5pt;"> </font>Inc<font style="letter-spacing:-0.5pt;"> </font>Earnings<font style="letter-spacing:-0.45pt;"> </font>Call</p></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:14.5pt;">&nbsp;</p>
<p style="line-height:1pt;margin-bottom:0pt;margin-top:0pt;margin-left:0.86%;text-indent:0%;font-size:1pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="gkqtdup4fqpe000024.jpg" title="" alt="" style="width:720px;height:1px;"><font style="font-size:9pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:4pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="29._Eric_S._Benevich"></a>Eric S. Benevich <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - Chief Commercial Officer</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Charles, this is Eric. I'll actually give you two. We mentioned earlier, the payer dynamics in Q1 and the fact that we've got a plan in place to mitigate the impact of all these patients that require a reauthorization or patients that are switching plans et cetera, et cetera. So one of the priorities for our team is to make sure that we're executing against that plan, minimize the impact that all these -- beginning of the year, payer dynamics can have on disrupting treatment and make sure that we're really focused on executing that as well as driving new patient starts in Q1.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">You<font style="letter-spacing:-0.45pt;"> </font>may<font style="letter-spacing:-0.4pt;"> </font>recall<font style="letter-spacing:-0.45pt;"> </font>that<font style="letter-spacing:-0.4pt;"> </font>last<font style="letter-spacing:-0.45pt;"> </font>year,<font style="letter-spacing:-0.4pt;"> </font>Q1<font style="letter-spacing:-0.45pt;"> </font>was<font style="letter-spacing:-0.4pt;"> </font>really<font style="letter-spacing:-0.45pt;"> </font>a<font style="letter-spacing:-0.4pt;"> </font>tale<font style="letter-spacing:-0.4pt;"> </font>of<font style="letter-spacing:-0.45pt;"> </font>2<font style="letter-spacing:-0.4pt;"> </font>half<font style="letter-spacing:-0.45pt;"> </font>quarters.<font style="letter-spacing:-0.4pt;"> </font>The<font style="letter-spacing:-0.45pt;"> </font>first<font style="letter-spacing:-0.4pt;"> </font>half<font style="letter-spacing:-0.45pt;"> </font>of<font style="letter-spacing:-0.4pt;"> </font>Q1<font style="letter-spacing:-0.4pt;"> </font>was<font style="letter-spacing:-0.45pt;"> </font>a<font style="letter-spacing:-0.4pt;"> </font>strong<font style="letter-spacing:-0.45pt;"> </font>focus<font style="letter-spacing:-0.4pt;"> </font>on<font style="letter-spacing:-0.45pt;"> </font>making<font style="letter-spacing:-0.4pt;"> </font>sure<font style="letter-spacing:-0.45pt;"> </font>that<font style="letter-spacing:-0.4pt;"> </font>any<font style="letter-spacing:-0.45pt;"> </font>patients<font style="letter-spacing:-0.4pt;"> </font>that were<font style="letter-spacing:-0.95pt;"> </font>experiencing<font style="letter-spacing:-0.9pt;"> </font>treatment<font style="letter-spacing:-0.95pt;"> </font>lapses<font style="letter-spacing:-0.9pt;"> </font>were<font style="letter-spacing:-0.95pt;"> </font>able<font style="letter-spacing:-0.9pt;"> </font>to<font style="letter-spacing:-0.95pt;"> </font>get<font style="letter-spacing:-0.9pt;"> </font>back<font style="letter-spacing:-0.95pt;"> </font>on<font style="letter-spacing:-0.9pt;"> </font>treatment.<font style="letter-spacing:-0.95pt;"> </font>Second<font style="letter-spacing:-0.9pt;"> </font>half<font style="letter-spacing:-0.9pt;"> </font>of<font style="letter-spacing:-0.95pt;"> </font>the<font style="letter-spacing:-0.9pt;"> </font>quarter,<font style="letter-spacing:-0.95pt;"> </font>we<font style="letter-spacing:-0.9pt;"> </font>saw<font style="letter-spacing:-0.95pt;"> </font>a<font style="letter-spacing:-0.9pt;"> </font>real<font style="letter-spacing:-0.95pt;"> </font>surge<font style="letter-spacing:-0.9pt;"> </font>in<font style="letter-spacing:-0.95pt;"> </font>new<font style="letter-spacing:-0.9pt;"> </font>patient<font style="letter-spacing:-0.95pt;"> </font>starts.<font style="letter-spacing:-0.9pt;"> </font>And so<font style="letter-spacing:-0.45pt;"> </font>we<font style="letter-spacing:-0.4pt;"> </font>want<font style="letter-spacing:-0.4pt;"> </font>to<font style="letter-spacing:-0.4pt;"> </font>make<font style="letter-spacing:-0.4pt;"> </font>sure<font style="letter-spacing:-0.4pt;"> </font>that<font style="letter-spacing:-0.4pt;"> </font>we're<font style="letter-spacing:-0.4pt;"> </font>executing<font style="letter-spacing:-0.4pt;"> </font>against<font style="letter-spacing:-0.4pt;"> </font>our<font style="letter-spacing:-0.4pt;"> </font>plan<font style="letter-spacing:-0.4pt;"> </font>in<font style="letter-spacing:-0.4pt;"> </font>Q1<font style="letter-spacing:-0.45pt;"> </font>and<font style="letter-spacing:-0.4pt;"> </font>setting<font style="letter-spacing:-0.4pt;"> </font>ourselves<font style="letter-spacing:-0.4pt;"> </font>up<font style="letter-spacing:-0.4pt;"> </font>nicely<font style="letter-spacing:-0.4pt;"> </font>for<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>rest<font style="letter-spacing:-0.4pt;"> </font>of<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>year.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">And<font style="letter-spacing:-0.45pt;"> </font>then,<font style="letter-spacing:-0.45pt;"> </font>as<font style="letter-spacing:-0.45pt;"> </font>Matt<font style="letter-spacing:-0.45pt;"> </font>mentioned<font style="letter-spacing:-0.45pt;"> </font>earlier,<font style="letter-spacing:-0.45pt;"> </font>as<font style="letter-spacing:-0.45pt;"> </font>yet,<font style="letter-spacing:-0.45pt;"> </font>almost<font style="letter-spacing:-0.45pt;"> </font>3<font style="letter-spacing:-0.45pt;"> </font>years<font style="letter-spacing:-0.4pt;"> </font>into<font style="letter-spacing:-0.45pt;"> </font>this<font style="letter-spacing:-0.45pt;"> </font>launch,<font style="letter-spacing:-0.45pt;"> </font>the<font style="letter-spacing:-0.45pt;"> </font>vast<font style="letter-spacing:-0.45pt;"> </font>majority<font style="letter-spacing:-0.45pt;"> </font>of<font style="letter-spacing:-0.45pt;"> </font>patients<font style="letter-spacing:-0.45pt;"> </font>with<font style="letter-spacing:-0.45pt;"> </font>tardive<font style="letter-spacing:-0.45pt;"> </font>dyskinesia,<font style="letter-spacing:-0.4pt;"> </font>have<font style="letter-spacing:-0.45pt;"> </font>yet<font style="letter-spacing:-0.45pt;"> </font>to<font style="letter-spacing:-0.45pt;"> </font><font style="letter-spacing:-0.3pt;">be </font>diagnosed.<font style="letter-spacing:-0.2pt;"> </font>We<font style="letter-spacing:-0.2pt;"> </font>think<font style="letter-spacing:-0.15pt;"> </font>that<font style="letter-spacing:-0.2pt;"> </font>diagnosis<font style="letter-spacing:-0.2pt;"> </font>rates<font style="letter-spacing:-0.2pt;"> </font>are<font style="letter-spacing:-0.15pt;"> </font>in<font style="letter-spacing:-0.2pt;"> </font>the<font style="letter-spacing:-0.2pt;"> </font>mid-<font style="letter-spacing:-0.15pt;"> </font>to<font style="letter-spacing:-0.2pt;"> </font>high<font style="letter-spacing:-0.2pt;"> </font>teens.<font style="letter-spacing:-0.15pt;"> </font>So<font style="letter-spacing:-0.2pt;"> </font>that<font style="letter-spacing:-0.2pt;"> </font>means<font style="letter-spacing:-0.15pt;"> </font>over<font style="letter-spacing:-0.2pt;"> </font>80%<font style="letter-spacing:-0.2pt;"> </font>of<font style="letter-spacing:-0.15pt;"> </font>people<font style="letter-spacing:-0.2pt;"> </font>out<font style="letter-spacing:-0.2pt;"> </font>there<font style="letter-spacing:-0.15pt;"> </font>that<font style="letter-spacing:-0.2pt;"> </font>have<font style="letter-spacing:-0.2pt;"> </font>TD<font style="letter-spacing:-0.15pt;"> </font>haven't<font style="letter-spacing:-0.2pt;"> </font>been given<font style="letter-spacing:-1pt;"> </font>a<font style="letter-spacing:-1pt;"> </font>diagnosis<font style="letter-spacing:-1pt;"> </font>and<font style="letter-spacing:-0.95pt;"> </font>haven't<font style="letter-spacing:-1pt;"> </font>been<font style="letter-spacing:-1pt;"> </font>offered<font style="letter-spacing:-1pt;"> </font>treatment<font style="letter-spacing:-0.95pt;"> </font>for<font style="letter-spacing:-1pt;"> </font>it.<font style="letter-spacing:-1pt;"> </font>So<font style="letter-spacing:-1pt;"> </font>the<font style="letter-spacing:-0.95pt;"> </font>focus<font style="letter-spacing:-1pt;"> </font>has<font style="letter-spacing:-1pt;"> </font>been<font style="letter-spacing:-1pt;"> </font>and<font style="letter-spacing:-0.95pt;"> </font>will<font style="letter-spacing:-1pt;"> </font>remain<font style="letter-spacing:-1pt;"> </font>for<font style="letter-spacing:-1pt;"> </font>quite<font style="letter-spacing:-0.95pt;"> </font>some<font style="letter-spacing:-1pt;"> </font>time.<font style="letter-spacing:-1pt;"> </font>To<font style="letter-spacing:-1pt;"> </font>bridge<font style="letter-spacing:-0.95pt;"> </font>that<font style="letter-spacing:-1pt;"> </font>gap<font style="letter-spacing:-1pt;"> </font>between the<font style="letter-spacing:-0.1pt;"> </font>undiagnosed<font style="letter-spacing:-0.1pt;"> </font>patient<font style="letter-spacing:-0.1pt;"> </font>population<font style="letter-spacing:-0.05pt;"> </font>and<font style="letter-spacing:-0.1pt;"> </font>the<font style="letter-spacing:-0.1pt;"> </font>prevalent<font style="letter-spacing:-0.05pt;"> </font>population.<font style="letter-spacing:-0.1pt;"> </font>And<font style="letter-spacing:-0.1pt;"> </font>so<font style="letter-spacing:-0.05pt;"> </font>we're<font style="letter-spacing:-0.1pt;"> </font>going<font style="letter-spacing:-0.1pt;"> </font>to<font style="letter-spacing:-0.05pt;"> </font>continue<font style="letter-spacing:-0.1pt;"> </font>to<font style="letter-spacing:-0.1pt;"> </font>focus<font style="letter-spacing:-0.05pt;"> </font>on<font style="letter-spacing:-0.1pt;"> </font>disease<font style="letter-spacing:-0.1pt;"> </font>recognition,<font style="letter-spacing:-0.1pt;"> </font>helping<font style="letter-spacing:-0.05pt;"> </font>to improve<font style="letter-spacing:-0.1pt;"> </font>the<font style="letter-spacing:-0.1pt;"> </font>diagnostic<font style="letter-spacing:-0.1pt;"> </font>acumen<font style="letter-spacing:-0.1pt;"> </font>of<font style="letter-spacing:-0.05pt;"> </font>the<font style="letter-spacing:-0.1pt;"> </font>prescribers<font style="letter-spacing:-0.1pt;"> </font>that<font style="letter-spacing:-0.1pt;"> </font>are<font style="letter-spacing:-0.05pt;"> </font>out<font style="letter-spacing:-0.1pt;"> </font>there.<font style="letter-spacing:-0.1pt;"> </font>We've<font style="letter-spacing:-0.1pt;"> </font>also<font style="letter-spacing:-0.1pt;"> </font>been<font style="letter-spacing:-0.05pt;"> </font>investing<font style="letter-spacing:-0.1pt;"> </font>in<font style="letter-spacing:-0.1pt;"> </font>helping<font style="letter-spacing:-0.1pt;"> </font>patients<font style="letter-spacing:-0.05pt;"> </font>to<font style="letter-spacing:-0.1pt;"> </font>recognize<font style="letter-spacing:-0.1pt;"> </font>when<font style="letter-spacing:-0.1pt;"> </font>they're experiencing<font style="letter-spacing:-0.45pt;"> </font>TD<font style="letter-spacing:-0.45pt;"> </font>symptoms.<font style="letter-spacing:-0.4pt;"> </font>Or<font style="letter-spacing:-0.45pt;"> </font>what<font style="letter-spacing:-0.4pt;"> </font>may<font style="letter-spacing:-0.45pt;"> </font>be<font style="letter-spacing:-0.4pt;"> </font>TD<font style="letter-spacing:-0.45pt;"> </font>and<font style="letter-spacing:-0.45pt;"> </font>encouraging<font style="letter-spacing:-0.4pt;"> </font>them<font style="letter-spacing:-0.45pt;"> </font>to<font style="letter-spacing:-0.4pt;"> </font>have<font style="letter-spacing:-0.45pt;"> </font>a<font style="letter-spacing:-0.4pt;"> </font>conversation<font style="letter-spacing:-0.45pt;"> </font>with<font style="letter-spacing:-0.45pt;"> </font>their<font style="letter-spacing:-0.4pt;"> </font>doctor.<font style="letter-spacing:-0.45pt;"> </font>And<font style="letter-spacing:-0.4pt;"> </font>as<font style="letter-spacing:-0.45pt;"> </font>you're<font style="letter-spacing:-0.4pt;"> </font>probably<font style="letter-spacing:-0.45pt;"> </font>aware, one<font style="letter-spacing:-0.75pt;"> </font>of<font style="letter-spacing:-0.7pt;"> </font>the<font style="letter-spacing:-0.7pt;"> </font>big<font style="letter-spacing:-0.7pt;"> </font>ticket<font style="letter-spacing:-0.7pt;"> </font>items<font style="letter-spacing:-0.7pt;"> </font>in<font style="letter-spacing:-0.75pt;"> </font>our<font style="letter-spacing:-0.7pt;"> </font>plan<font style="letter-spacing:-0.7pt;"> </font>this<font style="letter-spacing:-0.7pt;"> </font>year<font style="letter-spacing:-0.7pt;"> </font>--<font style="letter-spacing:-0.7pt;"> </font>last<font style="letter-spacing:-0.75pt;"> </font>year<font style="letter-spacing:-0.7pt;"> </font>and<font style="letter-spacing:-0.7pt;"> </font>into<font style="letter-spacing:-0.7pt;"> </font>this<font style="letter-spacing:-0.7pt;"> </font>year<font style="letter-spacing:-0.7pt;"> </font>has<font style="letter-spacing:-0.75pt;"> </font>been<font style="letter-spacing:-0.7pt;"> </font>our<font style="letter-spacing:-0.7pt;"> </font>unbranded<font style="letter-spacing:-0.7pt;"> </font>DTC<font style="letter-spacing:-0.7pt;"> </font>disease<font style="letter-spacing:-0.7pt;"> </font>awareness<font style="letter-spacing:-0.75pt;"> </font>campaign<font style="letter-spacing:-0.7pt;"> </font>called<font style="letter-spacing:-0.7pt;"> </font>talk about<font style="letter-spacing:-0.3pt;"> </font>TD.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="30._Charles_Cliff_Duncan"></a>So<font style="letter-spacing:-1.25pt;"> </font>we're<font style="letter-spacing:-1.2pt;"> </font>going<font style="letter-spacing:-1.2pt;"> </font>to<font style="letter-spacing:-1.2pt;"> </font>continue<font style="letter-spacing:-1.2pt;"> </font>to<font style="letter-spacing:-1.2pt;"> </font>execute<font style="letter-spacing:-1.2pt;"> </font>on<font style="letter-spacing:-1.25pt;"> </font>our<font style="letter-spacing:-1.2pt;"> </font>plan.<font style="letter-spacing:-1.2pt;"> </font>We're<font style="letter-spacing:-1.2pt;"> </font>continuing<font style="letter-spacing:-1.2pt;"> </font>to<font style="letter-spacing:-1.2pt;"> </font>educate<font style="letter-spacing:-1.2pt;"> </font>providers<font style="letter-spacing:-1.25pt;"> </font>on<font style="letter-spacing:-1.2pt;"> </font>what<font style="letter-spacing:-1.2pt;"> </font>is<font style="letter-spacing:-1.2pt;"> </font>TD<font style="letter-spacing:-1.2pt;"> </font>and<font style="letter-spacing:-1.2pt;"> </font>what<font style="letter-spacing:-1.2pt;"> </font>isn't<font style="letter-spacing:-1.2pt;"> </font>TD,<font style="letter-spacing:-1.25pt;"> </font>the<font style="letter-spacing:-1.2pt;"> </font>benefits<font style="letter-spacing:-1.2pt;"> </font>of<font style="letter-spacing:-1.2pt;"> </font><a name="30._Charles_Cliff_Duncan"></a>INGREZZA, how<font style="letter-spacing:-0.75pt;"> </font>quickly<font style="letter-spacing:-0.7pt;"> </font>it<font style="letter-spacing:-0.7pt;"> </font>works<font style="letter-spacing:-0.7pt;"> </font>and<font style="letter-spacing:-0.7pt;"> </font>the<font style="letter-spacing:-0.7pt;"> </font>reductions<font style="letter-spacing:-0.7pt;"> </font>of<font style="letter-spacing:-0.7pt;"> </font>involuntary<font style="letter-spacing:-0.7pt;"> </font>movements<font style="letter-spacing:-0.7pt;"> </font>that<font style="letter-spacing:-0.7pt;"> </font>are<font style="letter-spacing:-0.7pt;"> </font>seen<font style="letter-spacing:-0.7pt;"> </font>in<font style="letter-spacing:-0.75pt;"> </font>our<font style="letter-spacing:-0.7pt;"> </font>clinical<font style="letter-spacing:-0.7pt;"> </font>data.<font style="letter-spacing:-0.7pt;"> </font>But<font style="letter-spacing:-0.7pt;"> </font>getting<font style="letter-spacing:-0.7pt;"> </font>a<font style="letter-spacing:-0.7pt;"> </font>good<font style="letter-spacing:-0.7pt;"> </font>start<font style="letter-spacing:-0.7pt;"> </font>in<font style="letter-spacing:-0.7pt;"> </font>Q1,<font style="letter-spacing:-0.7pt;"> </font>mitigating<font style="letter-spacing:-0.7pt;"> </font><font style="letter-spacing:-0.2pt;">the </font>impact<font style="letter-spacing:-0.4pt;"> </font>of<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>payer<font style="letter-spacing:-0.35pt;"> </font>disruption<font style="letter-spacing:-0.4pt;"> </font>and<font style="letter-spacing:-0.4pt;"> </font>then<font style="letter-spacing:-0.35pt;"> </font>continuing<font style="letter-spacing:-0.4pt;"> </font>to<font style="letter-spacing:-0.4pt;"> </font>raise<font style="letter-spacing:-0.35pt;"> </font>awareness<font style="letter-spacing:-0.4pt;"> </font>in<font style="letter-spacing:-0.4pt;"> </font>driving<font style="letter-spacing:-0.35pt;"> </font>diagnosis<font style="letter-spacing:-0.4pt;"> </font>of<font style="letter-spacing:-0.4pt;"> </font>TD<font style="letter-spacing:-0.35pt;"> </font>are<font style="letter-spacing:-0.4pt;"> </font>going<font style="letter-spacing:-0.4pt;"> </font>to<font style="letter-spacing:-0.35pt;"> </font>be<font style="letter-spacing:-0.4pt;"> </font>key<font style="letter-spacing:-0.4pt;"> </font>for<font style="letter-spacing:-0.35pt;"> </font>us<font style="letter-spacing:-0.4pt;"> </font>in<font style="letter-spacing:-0.4pt;"> </font>2020.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Charles Cliff Duncan <font style="font-style:italic;font-weight:normal;">- Cantor Fitzgerald &amp; Co., Research Division - Senior Analyst</font></p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:1.45%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="31._Kevin_C._Gorman"></a>Perfect. That's helpful. Eric, appreciate the added color. One quick question on opicapone, when you look at the opportunity set there, is it <font style="letter-spacing:-0.25pt;">one&nbsp;&nbsp;</font>that<font style="letter-spacing:0.4pt;"> </font>will<font style="letter-spacing:0.4pt;"> </font>be<font style="letter-spacing:0.4pt;"> </font>measured<font style="letter-spacing:0.4pt;"> </font>by<font style="letter-spacing:0.4pt;"> </font>initial<font style="letter-spacing:0.4pt;"> </font>prescriptions<font style="letter-spacing:0.4pt;"> </font>for<font style="letter-spacing:0.4pt;"> </font>opicapone<font style="letter-spacing:0.4pt;"> </font>and<font style="letter-spacing:0.4pt;"> </font>the<font style="letter-spacing:0.4pt;"> </font>PD<font style="letter-spacing:0.4pt;"> </font>community<font style="letter-spacing:0.4pt;"> </font>or<font style="letter-spacing:0.4pt;"> </font>increase<font style="letter-spacing:0.4pt;"> </font>[mind]<font style="letter-spacing:0.4pt;"> </font>share<font style="letter-spacing:0.4pt;"> </font>within<font style="letter-spacing:0.4pt;"> </font>the<font style="letter-spacing:0.4pt;"> </font>neurology<font style="letter-spacing:0.4pt;"> </font>community?</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Kevin C. Gorman <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - CEO &amp; Director</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Sure. Eiry had commented a little bit earlier about the receptivity that we've seen thus far here in our preparation for a planned launch later this year. I will say that given the established treatment options, it's going to take time for us to remind people about the role of COMT in optimizing levodopa therapy. This is a little bit of an unusual dynamic in that, all the clinical studies, and therefore, all the clinical experience thus far is outside of the U.S.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">So<font style="letter-spacing:-1.1pt;"> </font>for<font style="letter-spacing:-1.05pt;"> </font>the<font style="letter-spacing:-1.1pt;"> </font>average<font style="letter-spacing:-1.05pt;"> </font>neurologist<font style="letter-spacing:-1.1pt;"> </font>or<font style="letter-spacing:-1.05pt;"> </font>community<font style="letter-spacing:-1.1pt;"> </font>physician<font style="letter-spacing:-1.05pt;"> </font>that's<font style="letter-spacing:-1.1pt;"> </font>treating<font style="letter-spacing:-1.05pt;"> </font>Parkinson's<font style="letter-spacing:-1.1pt;"> </font>patients,<font style="letter-spacing:-1.05pt;"> </font>they<font style="letter-spacing:-1.05pt;"> </font>may<font style="letter-spacing:-1.1pt;"> </font>not<font style="letter-spacing:-1.05pt;"> </font>be<font style="letter-spacing:-1.1pt;"> </font>aware<font style="letter-spacing:-1.05pt;"> </font>or<font style="letter-spacing:-1.1pt;"> </font>that<font style="letter-spacing:-1.05pt;"> </font>familiar<font style="letter-spacing:-1.1pt;"> </font>with<font style="letter-spacing:-1.05pt;"> </font>opicapone. I<font style="letter-spacing:-1.15pt;"> </font>will<font style="letter-spacing:-1.15pt;"> </font>say,<font style="letter-spacing:-1.15pt;"> </font>though,<font style="letter-spacing:-1.1pt;"> </font>that<font style="letter-spacing:-1.15pt;"> </font>key<font style="letter-spacing:-1.15pt;"> </font>opinion<font style="letter-spacing:-1.15pt;"> </font>leaders,<font style="letter-spacing:-1.1pt;"> </font>thought<font style="letter-spacing:-1.15pt;"> </font>leaders<font style="letter-spacing:-1.15pt;"> </font>in<font style="letter-spacing:-1.15pt;"> </font>movement<font style="letter-spacing:-1.1pt;"> </font>disorders,<font style="letter-spacing:-1.15pt;"> </font>specifically<font style="letter-spacing:-1.15pt;"> </font>Parkinson's<font style="letter-spacing:-1.1pt;"> </font>are<font style="letter-spacing:-1.15pt;"> </font>generally<font style="letter-spacing:-1.15pt;"> </font>familiar<font style="letter-spacing:-1.15pt;"> </font>with<font style="letter-spacing:-1.1pt;"> </font>the<font style="letter-spacing:-1.15pt;"> </font>data<font style="letter-spacing:-1.15pt;"> </font>and are<font style="letter-spacing:-0.35pt;"> </font>enthusiastic<font style="letter-spacing:-0.35pt;"> </font>about<font style="letter-spacing:-0.35pt;"> </font>having<font style="letter-spacing:-0.35pt;"> </font>this<font style="letter-spacing:-0.35pt;"> </font>new<font style="letter-spacing:-0.35pt;"> </font>treatment<font style="letter-spacing:-0.35pt;"> </font>option<font style="letter-spacing:-0.35pt;"> </font>available<font style="letter-spacing:-0.35pt;"> </font>to<font style="letter-spacing:-0.35pt;"> </font>them<font style="letter-spacing:-0.35pt;"> </font>on<font style="letter-spacing:-0.3pt;"> </font>the<font style="letter-spacing:-0.35pt;"> </font>other<font style="letter-spacing:-0.35pt;"> </font>side<font style="letter-spacing:-0.35pt;"> </font>of<font style="letter-spacing:-0.35pt;"> </font>an<font style="letter-spacing:-0.35pt;"> </font>FDA<font style="letter-spacing:-0.35pt;"> </font>approval.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">So<font style="letter-spacing:-0.7pt;"> </font>we're<font style="letter-spacing:-0.7pt;"> </font>doing<font style="letter-spacing:-0.65pt;"> </font>the<font style="letter-spacing:-0.7pt;"> </font>work<font style="letter-spacing:-0.65pt;"> </font>to<font style="letter-spacing:-0.7pt;"> </font>prepare<font style="letter-spacing:-0.65pt;"> </font>now<font style="letter-spacing:-0.7pt;"> </font>for<font style="letter-spacing:-0.7pt;"> </font>an<font style="letter-spacing:-0.65pt;"> </font>eventual<font style="letter-spacing:-0.7pt;"> </font>launch<font style="letter-spacing:-0.65pt;"> </font>later<font style="letter-spacing:-0.7pt;"> </font>this<font style="letter-spacing:-0.65pt;"> </font>year.<font style="letter-spacing:-0.7pt;"> </font>Certainly,<font style="letter-spacing:-0.7pt;"> </font>as<font style="letter-spacing:-0.65pt;"> </font>Eiry<font style="letter-spacing:-0.7pt;"> </font>mentioned,<font style="letter-spacing:-0.65pt;"> </font>the<font style="letter-spacing:-0.7pt;"> </font>medical<font style="letter-spacing:-0.65pt;"> </font>organization<font style="letter-spacing:-0.7pt;"> </font>has<font style="letter-spacing:-0.7pt;"> </font>started that<font style="letter-spacing:-0.95pt;"> </font>process<font style="letter-spacing:-0.9pt;"> </font>of<font style="letter-spacing:-0.9pt;"> </font>reminding<font style="letter-spacing:-0.9pt;"> </font>people<font style="letter-spacing:-0.95pt;"> </font>about<font style="letter-spacing:-0.9pt;"> </font>the<font style="letter-spacing:-0.9pt;"> </font>important<font style="letter-spacing:-0.9pt;"> </font>role<font style="letter-spacing:-0.9pt;"> </font>of<font style="letter-spacing:-0.95pt;"> </font>COMT<font style="letter-spacing:-0.9pt;"> </font>in<font style="letter-spacing:-0.9pt;"> </font>optimizing<font style="letter-spacing:-0.9pt;"> </font>levodopa<font style="letter-spacing:-0.9pt;"> </font>treatment.<font style="letter-spacing:-0.95pt;"> </font>And<font style="letter-spacing:-0.9pt;"> </font>as<font style="letter-spacing:-0.9pt;"> </font>you<font style="letter-spacing:-0.9pt;"> </font>may<font style="letter-spacing:-0.9pt;"> </font>recall,<font style="letter-spacing:-0.95pt;"> </font>when<font style="letter-spacing:-0.9pt;"> </font>we<font style="letter-spacing:-0.9pt;"> </font>expanded our<font style="letter-spacing:-0.6pt;"> </font>field<font style="letter-spacing:-0.6pt;"> </font>sales<font style="letter-spacing:-0.6pt;"> </font>team<font style="letter-spacing:-0.6pt;"> </font>towards<font style="letter-spacing:-0.6pt;"> </font>the<font style="letter-spacing:-0.6pt;"> </font>end<font style="letter-spacing:-0.6pt;"> </font>of<font style="letter-spacing:-0.6pt;"> </font>2018,<font style="letter-spacing:-0.55pt;"> </font>and<font style="letter-spacing:-0.6pt;"> </font>it<font style="letter-spacing:-0.6pt;"> </font>was<font style="letter-spacing:-0.6pt;"> </font>with<font style="letter-spacing:-0.6pt;"> </font>dual<font style="letter-spacing:-0.6pt;"> </font>goals<font style="letter-spacing:-0.6pt;"> </font>in<font style="letter-spacing:-0.6pt;"> </font>mind<font style="letter-spacing:-0.55pt;"> </font>to<font style="letter-spacing:-0.6pt;"> </font>optimize<font style="letter-spacing:-0.6pt;"> </font>the<font style="letter-spacing:-0.6pt;"> </font>team<font style="letter-spacing:-0.6pt;"> </font>for<font style="letter-spacing:-0.6pt;"> </font>the<font style="letter-spacing:-0.6pt;"> </font>TD<font style="letter-spacing:-0.6pt;"> </font>opportunity,<font style="letter-spacing:-0.55pt;"> </font>but<font style="letter-spacing:-0.6pt;"> </font>also<font style="letter-spacing:-0.6pt;"> </font>to<font style="letter-spacing:-0.6pt;"> </font>prepare for<font style="letter-spacing:-0.3pt;"> </font>the<font style="letter-spacing:-0.25pt;"> </font>eventual<font style="letter-spacing:-0.3pt;"> </font>launch<font style="letter-spacing:-0.25pt;"> </font>in<font style="letter-spacing:-0.3pt;"> </font>Parkinson's<font style="letter-spacing:-0.25pt;"> </font>disease.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">So<font style="letter-spacing:-1.05pt;"> </font>we've<font style="letter-spacing:-1.05pt;"> </font>got<font style="letter-spacing:-1pt;"> </font>our<font style="letter-spacing:-1.05pt;"> </font>team<font style="letter-spacing:-1.05pt;"> </font>in<font style="letter-spacing:-1pt;"> </font>place.<font style="letter-spacing:-1.05pt;"> </font>We<font style="letter-spacing:-1.05pt;"> </font>cover<font style="letter-spacing:-1pt;"> </font>all<font style="letter-spacing:-1.05pt;"> </font>of<font style="letter-spacing:-1.05pt;"> </font>the<font style="letter-spacing:-1pt;"> </font>movement<font style="letter-spacing:-1.05pt;"> </font>disorder<font style="letter-spacing:-1.05pt;"> </font>specialists<font style="letter-spacing:-1pt;"> </font>that<font style="letter-spacing:-1.05pt;"> </font>are<font style="letter-spacing:-1.05pt;"> </font>out<font style="letter-spacing:-1pt;"> </font>there.<font style="letter-spacing:-1.05pt;"> </font>And<font style="letter-spacing:-1.05pt;"> </font>as<font style="letter-spacing:-1pt;"> </font>we<font style="letter-spacing:-1.05pt;"> </font>progress<font style="letter-spacing:-1.05pt;"> </font>towards<font style="letter-spacing:-1pt;"> </font>the<font style="letter-spacing:-1.05pt;"> </font>launch,<font style="letter-spacing:-1.05pt;"> </font>we're going<font style="letter-spacing:-0.45pt;"> </font>to<font style="letter-spacing:-0.4pt;"> </font>be<font style="letter-spacing:-0.45pt;"> </font>doing<font style="letter-spacing:-0.4pt;"> </font>additional<font style="letter-spacing:-0.45pt;"> </font>things<font style="letter-spacing:-0.4pt;"> </font>like<font style="letter-spacing:-0.45pt;"> </font>training<font style="letter-spacing:-0.4pt;"> </font>our<font style="letter-spacing:-0.45pt;"> </font>team<font style="letter-spacing:-0.4pt;"> </font>on<font style="letter-spacing:-0.45pt;"> </font>disease<font style="letter-spacing:-0.4pt;"> </font>data<font style="letter-spacing:-0.4pt;"> </font>and<font style="letter-spacing:-0.45pt;"> </font>so<font style="letter-spacing:-0.4pt;"> </font>on,<font style="letter-spacing:-0.45pt;"> </font>so<font style="letter-spacing:-0.4pt;"> </font>that<font style="letter-spacing:-0.45pt;"> </font>we<font style="letter-spacing:-0.4pt;"> </font>can<font style="letter-spacing:-0.45pt;"> </font>be<font style="letter-spacing:-0.4pt;"> </font>well<font style="letter-spacing:-0.45pt;"> </font>prepared<font style="letter-spacing:-0.4pt;"> </font>to<font style="letter-spacing:-0.4pt;"> </font>launch<font style="letter-spacing:-0.45pt;"> </font>after<font style="letter-spacing:-0.4pt;"> </font>we<font style="letter-spacing:-0.45pt;"> </font>get<font style="letter-spacing:-0.4pt;"> </font>FDA approval.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="gkqtdup4fqpe000002.jpg" title="" alt="" style="width:720px;height:28px;">
<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0.18%;text-indent:0%;color:#FFFFFF;font-size:12pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">FEBRUARY<font style="letter-spacing:-0.5pt;"> </font>04,<font style="letter-spacing:-0.5pt;"> </font>2020<font style="letter-spacing:-0.5pt;"> </font>/<font style="letter-spacing:-0.5pt;"> </font>9:30PM,<font style="letter-spacing:-0.5pt;"> </font>NBIX<font style="letter-spacing:-0.5pt;"> </font>-<font style="letter-spacing:-0.45pt;"> </font>Q4<font style="letter-spacing:-0.5pt;"> </font>2019<font style="letter-spacing:-0.5pt;"> </font>Neurocrine<font style="letter-spacing:-0.5pt;"> </font>Biosciences<font style="letter-spacing:-0.5pt;"> </font>Inc<font style="letter-spacing:-0.5pt;"> </font>Earnings<font style="letter-spacing:-0.45pt;"> </font>Call</p></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:14.5pt;">&nbsp;</p>
<p style="line-height:1pt;margin-bottom:0pt;margin-top:0pt;margin-left:0.86%;text-indent:0%;font-size:1pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="gkqtdup4fqpe000027.jpg" title="" alt="" style="width:720px;height:1px;"><font style="font-size:9pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:4pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="32._Operator"></a>Operator</p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Next, we'll go to Paul Choi with Goldman Sachs.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="33._Kyuwon_Choi"></a><a name="_bookmark14"></a>Kyuwon Choi <font style="font-style:italic;font-weight:normal;">- Goldman Sachs Group Inc., Research Division - Equity Analyst</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">I had 2 questions on for crinecerfont for CAH. First, just on the pivotal trial design. Could you maybe just clarify for us whether you -- this trial can be used for global registrational purposes? And if you'll have European sites on board, I think in the past, you've talked about this being <font style="letter-spacing:-0.15pt;">your </font>potential foray to becoming a global company and selling it in Europe, and Eiry and Kevin, if you can comment on<font style="letter-spacing:0.75pt;"> </font>that?</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="34._Kevin_C._Gorman"></a>And<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>second<font style="letter-spacing:-0.4pt;"> </font>question<font style="letter-spacing:-0.4pt;"> </font>I<font style="letter-spacing:-0.4pt;"> </font>have<font style="letter-spacing:-0.4pt;"> </font>is<font style="letter-spacing:-0.4pt;"> </font>just<font style="letter-spacing:-0.4pt;"> </font>also<font style="letter-spacing:-0.4pt;"> </font>on<font style="letter-spacing:-0.4pt;"> </font>CAH<font style="letter-spacing:-0.4pt;"> </font>with<font style="letter-spacing:-0.4pt;"> </font>regard<font style="letter-spacing:-0.4pt;"> </font>to<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>pediatric<font style="letter-spacing:-0.4pt;"> </font>Phase<font style="letter-spacing:-0.4pt;"> </font>II<font style="letter-spacing:-0.4pt;"> </font>that's<font style="letter-spacing:-0.4pt;"> </font>ongoing.<font style="letter-spacing:-0.4pt;"> </font>I<font style="letter-spacing:-0.4pt;"> </font>didn't<font style="letter-spacing:-0.4pt;"> </font>see<font style="letter-spacing:-0.4pt;"> </font>it<font style="letter-spacing:-0.4pt;"> </font>in<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>slides,<font style="letter-spacing:-0.4pt;"> </font>but<font style="letter-spacing:-0.4pt;"> </font>is<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.35pt;"> </font>plan still<font style="letter-spacing:-0.3pt;"> </font>to<font style="letter-spacing:-0.25pt;"> </font>top<font style="letter-spacing:-0.25pt;"> </font>line<font style="letter-spacing:-0.25pt;"> </font>those<font style="letter-spacing:-0.25pt;"> </font>results<font style="letter-spacing:-0.25pt;"> </font>later<font style="letter-spacing:-0.25pt;"> </font>this<font style="letter-spacing:-0.25pt;"> </font>year?<font style="letter-spacing:-0.3pt;"> </font>And<font style="letter-spacing:-0.25pt;"> </font>could<font style="letter-spacing:-0.25pt;"> </font>you<font style="letter-spacing:-0.25pt;"> </font>maybe<font style="letter-spacing:-0.25pt;"> </font>speak<font style="letter-spacing:-0.25pt;"> </font>to<font style="letter-spacing:-0.25pt;"> </font>the<font style="letter-spacing:-0.25pt;"> </font>development<font style="letter-spacing:-0.3pt;"> </font>path<font style="letter-spacing:-0.25pt;"> </font>in<font style="letter-spacing:-0.25pt;"> </font>the<font style="letter-spacing:-0.25pt;"> </font>pediatric<font style="letter-spacing:-0.25pt;"> </font>population<font style="letter-spacing:-0.25pt;"> </font>and<font style="letter-spacing:-0.25pt;"> </font>whether<font style="letter-spacing:-0.25pt;"> </font><a name="34._Kevin_C._Gorman"></a>you intend<font style="letter-spacing:-0.3pt;"> </font>to<font style="letter-spacing:-0.25pt;"> </font>pursue<font style="letter-spacing:-0.3pt;"> </font>it<font style="letter-spacing:-0.25pt;"> </font>in<font style="letter-spacing:-0.25pt;"> </font>younger<font style="letter-spacing:-0.3pt;"> </font>patients<font style="letter-spacing:-0.25pt;"> </font>as<font style="letter-spacing:-0.3pt;"> </font>well?</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Kevin C. Gorman <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - CEO &amp; Director</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Yes. Thanks, Paul. You are correct in your recollection that this adult Phase III study, we look at as a global registration study. We've been in contact with both the European Regulatory Agencies as well as the FDA. And so that is what we're doing a little later this year as being able to do that with sites all throughout Europe and the United States.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">And<font style="letter-spacing:-0.75pt;"> </font>it<font style="letter-spacing:-0.7pt;"> </font>will<font style="letter-spacing:-0.7pt;"> </font>be<font style="letter-spacing:-0.7pt;"> </font>a<font style="letter-spacing:-0.7pt;"> </font>situation<font style="letter-spacing:-0.7pt;"> </font>that<font style="letter-spacing:-0.7pt;"> </font>we<font style="letter-spacing:-0.75pt;"> </font>have<font style="letter-spacing:-0.7pt;"> </font>reached<font style="letter-spacing:-0.7pt;"> </font>the<font style="letter-spacing:-0.7pt;"> </font>level<font style="letter-spacing:-0.7pt;"> </font>in<font style="letter-spacing:-0.7pt;"> </font>the<font style="letter-spacing:-0.75pt;"> </font>company<font style="letter-spacing:-0.7pt;"> </font>of<font style="letter-spacing:-0.7pt;"> </font>sophistication<font style="letter-spacing:-0.7pt;"> </font>and<font style="letter-spacing:-0.7pt;"> </font>resources<font style="letter-spacing:-0.7pt;"> </font>that<font style="letter-spacing:-0.7pt;"> </font>we<font style="letter-spacing:-0.75pt;"> </font>can<font style="letter-spacing:-0.7pt;"> </font>commercialize<font style="letter-spacing:-0.7pt;"> </font>this<font style="letter-spacing:-0.7pt;"> </font>ourselves over<font style="letter-spacing:-0.6pt;"> </font>in<font style="letter-spacing:-0.6pt;"> </font>Europe.<font style="letter-spacing:-0.6pt;"> </font>So<font style="letter-spacing:-0.6pt;"> </font>we<font style="letter-spacing:-0.6pt;"> </font>would<font style="letter-spacing:-0.6pt;"> </font>not<font style="letter-spacing:-0.55pt;"> </font>be<font style="letter-spacing:-0.6pt;"> </font>seeking<font style="letter-spacing:-0.6pt;"> </font>a<font style="letter-spacing:-0.6pt;"> </font>partner<font style="letter-spacing:-0.6pt;"> </font>there,<font style="letter-spacing:-0.6pt;"> </font>and<font style="letter-spacing:-0.6pt;"> </font>that<font style="letter-spacing:-0.55pt;"> </font>would<font style="letter-spacing:-0.6pt;"> </font>be<font style="letter-spacing:-0.6pt;"> </font>our<font style="letter-spacing:-0.6pt;"> </font>first<font style="letter-spacing:-0.6pt;"> </font>foray<font style="letter-spacing:-0.6pt;"> </font>into<font style="letter-spacing:-0.6pt;"> </font>becoming<font style="letter-spacing:-0.55pt;"> </font>a<font style="letter-spacing:-0.6pt;"> </font>global<font style="letter-spacing:-0.6pt;"> </font>pharmaceutical<font style="letter-spacing:-0.6pt;"> </font>company.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="35._Eiry_Wyn_Roberts"></a>And Eiry, you want to talk about the second half of Paul's question.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Eiry Wyn Roberts <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - Chief Medical Officer</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="36._Kyuwon_Choi"></a>Yes.<font style="letter-spacing:-1.35pt;"> </font>So<font style="letter-spacing:-1.3pt;"> </font>with<font style="letter-spacing:-1.3pt;"> </font>respect<font style="letter-spacing:-1.3pt;"> </font>to<font style="letter-spacing:-1.3pt;"> </font>the<font style="letter-spacing:-1.3pt;"> </font>pediatric<font style="letter-spacing:-1.3pt;"> </font>program,<font style="letter-spacing:-1.3pt;"> </font>the<font style="letter-spacing:-1.3pt;"> </font>proof-of-concept<font style="letter-spacing:-1.3pt;"> </font>study<font style="letter-spacing:-1.3pt;"> </font>is<font style="letter-spacing:-1.3pt;"> </font>obviously<font style="letter-spacing:-1.3pt;"> </font>the<font style="letter-spacing:-1.3pt;"> </font>first<font style="letter-spacing:-1.3pt;"> </font>step<font style="letter-spacing:-1.35pt;"> </font>in<font style="letter-spacing:-1.3pt;"> </font>that<font style="letter-spacing:-1.3pt;"> </font>regard,<font style="letter-spacing:-1.3pt;"> </font>and<font style="letter-spacing:-1.3pt;"> </font>we<font style="letter-spacing:-1.3pt;"> </font>continue<font style="letter-spacing:-1.3pt;"> </font>to<font style="letter-spacing:-1.3pt;"> </font>make<font style="letter-spacing:-1.3pt;"> </font><a name="36._Kyuwon_Choi"></a>progress with<font style="letter-spacing:-1.1pt;"> </font>that.<font style="letter-spacing:-1.05pt;"> </font>That<font style="letter-spacing:-1.05pt;"> </font>is<font style="letter-spacing:-1.05pt;"> </font>an<font style="letter-spacing:-1.05pt;"> </font>adaptive<font style="letter-spacing:-1.05pt;"> </font>trial<font style="letter-spacing:-1.05pt;"> </font>similar<font style="letter-spacing:-1.05pt;"> </font>to<font style="letter-spacing:-1.05pt;"> </font>our<font style="letter-spacing:-1.1pt;"> </font>previous<font style="letter-spacing:-1.05pt;"> </font>adult<font style="letter-spacing:-1.05pt;"> </font>proof-of-concept<font style="letter-spacing:-1.05pt;"> </font>study.<font style="letter-spacing:-1.05pt;"> </font>In<font style="letter-spacing:-1.05pt;"> </font>parallel<font style="letter-spacing:-1.05pt;"> </font>with<font style="letter-spacing:-1.05pt;"> </font>that<font style="letter-spacing:-1.05pt;"> </font>ongoing<font style="letter-spacing:-1.05pt;"> </font>study<font style="letter-spacing:-1.1pt;"> </font>though,<font style="letter-spacing:-1.05pt;"> </font>we<font style="letter-spacing:-1.05pt;"> </font>are<font style="letter-spacing:-1.05pt;"> </font>engaging with<font style="letter-spacing:-0.7pt;"> </font>the<font style="letter-spacing:-0.7pt;"> </font>regulators<font style="letter-spacing:-0.7pt;"> </font>both<font style="letter-spacing:-0.7pt;"> </font>in<font style="letter-spacing:-0.7pt;"> </font>the<font style="letter-spacing:-0.65pt;"> </font>U.S.<font style="letter-spacing:-0.7pt;"> </font>and<font style="letter-spacing:-0.7pt;"> </font>Europe<font style="letter-spacing:-0.7pt;"> </font>right<font style="letter-spacing:-0.7pt;"> </font>now<font style="letter-spacing:-0.7pt;"> </font>to<font style="letter-spacing:-0.65pt;"> </font>determine<font style="letter-spacing:-0.7pt;"> </font>the<font style="letter-spacing:-0.7pt;"> </font>registration<font style="letter-spacing:-0.7pt;"> </font>trial<font style="letter-spacing:-0.7pt;"> </font>design<font style="letter-spacing:-0.65pt;"> </font>for<font style="letter-spacing:-0.7pt;"> </font>the<font style="letter-spacing:-0.7pt;"> </font>pediatric<font style="letter-spacing:-0.7pt;"> </font>indication,<font style="letter-spacing:-0.7pt;"> </font>which<font style="letter-spacing:-0.7pt;"> </font>will<font style="letter-spacing:-0.65pt;"> </font>also<font style="letter-spacing:-0.7pt;"> </font>be a<font style="letter-spacing:-0.45pt;"> </font>global<font style="letter-spacing:-0.4pt;"> </font>program.<font style="letter-spacing:-0.4pt;"> </font>And<font style="letter-spacing:-0.4pt;"> </font>so<font style="letter-spacing:-0.4pt;"> </font>as<font style="letter-spacing:-0.4pt;"> </font>we<font style="letter-spacing:-0.45pt;"> </font>go<font style="letter-spacing:-0.4pt;"> </font>through<font style="letter-spacing:-0.4pt;"> </font>this<font style="letter-spacing:-0.4pt;"> </font>year<font style="letter-spacing:-0.4pt;"> </font>and<font style="letter-spacing:-0.4pt;"> </font>we<font style="letter-spacing:-0.45pt;"> </font>gain<font style="letter-spacing:-0.4pt;"> </font>more<font style="letter-spacing:-0.4pt;"> </font>clarity<font style="letter-spacing:-0.4pt;"> </font>on<font style="letter-spacing:-0.4pt;"> </font>that,<font style="letter-spacing:-0.4pt;"> </font>we<font style="letter-spacing:-0.45pt;"> </font>can<font style="letter-spacing:-0.4pt;"> </font>certainly<font style="letter-spacing:-0.4pt;"> </font>provide<font style="letter-spacing:-0.4pt;"> </font>more<font style="letter-spacing:-0.4pt;"> </font>information.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="37._Eiry_Wyn_Roberts"></a>Kyuwon Choi <font style="font-style:italic;font-weight:normal;">- Goldman Sachs Group Inc., Research Division - Equity Analyst</font></p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">And is the plan to go into younger patients as well versus the sort of teenagers that are currently being studied in the Phase II?</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="38._Operator"></a>Eiry Wyn Roberts <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - Chief Medical Officer</font></p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Yes. That is the plan.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Operator</p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Next, we'll go to Evan Seigerman with Cr&#233;dit Suisse.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="gkqtdup4fqpe000002.jpg" title="" alt="" style="width:720px;height:28px;">
<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0.18%;text-indent:0%;color:#FFFFFF;font-size:12pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">FEBRUARY<font style="letter-spacing:-0.5pt;"> </font>04,<font style="letter-spacing:-0.5pt;"> </font>2020<font style="letter-spacing:-0.5pt;"> </font>/<font style="letter-spacing:-0.5pt;"> </font>9:30PM,<font style="letter-spacing:-0.5pt;"> </font>NBIX<font style="letter-spacing:-0.5pt;"> </font>-<font style="letter-spacing:-0.45pt;"> </font>Q4<font style="letter-spacing:-0.5pt;"> </font>2019<font style="letter-spacing:-0.5pt;"> </font>Neurocrine<font style="letter-spacing:-0.5pt;"> </font>Biosciences<font style="letter-spacing:-0.5pt;"> </font>Inc<font style="letter-spacing:-0.5pt;"> </font>Earnings<font style="letter-spacing:-0.45pt;"> </font>Call</p></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="39._Evan_David_Seigerman"></a><a name="_bookmark15"></a>Evan David Seigerman <font style="font-style:italic;font-weight:normal;">- Cr&#233;dit Suisse AG, Research Division - VP &amp; Senior Equity Research Analyst</font></p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">It<font style="letter-spacing:-0.75pt;"> </font>was<font style="letter-spacing:-0.7pt;"> </font>great<font style="letter-spacing:-0.7pt;"> </font>to<font style="letter-spacing:-0.75pt;"> </font>see<font style="letter-spacing:-0.7pt;"> </font>you<font style="letter-spacing:-0.7pt;"> </font>a<font style="letter-spacing:-0.75pt;"> </font>couple<font style="letter-spacing:-0.7pt;"> </font>of<font style="letter-spacing:-0.7pt;"> </font>weeks<font style="letter-spacing:-0.7pt;"> </font>ago<font style="letter-spacing:-0.75pt;"> </font>in<font style="letter-spacing:-0.7pt;"> </font>San<font style="letter-spacing:-0.7pt;"> </font>Francisco.<font style="letter-spacing:-0.75pt;"> </font>One<font style="letter-spacing:-0.7pt;"> </font>specific<font style="letter-spacing:-0.7pt;"> </font>question,<font style="letter-spacing:-0.75pt;"> </font>so<font style="letter-spacing:-0.7pt;"> </font>when<font style="letter-spacing:-0.7pt;"> </font>you<font style="letter-spacing:-0.7pt;"> </font>think<font style="letter-spacing:-0.75pt;"> </font>about<font style="letter-spacing:-0.7pt;"> </font>the<font style="letter-spacing:-0.7pt;"> </font>net<font style="letter-spacing:-0.75pt;"> </font>--<font style="letter-spacing:-0.7pt;"> </font>or<font style="letter-spacing:-0.7pt;"> </font>the<font style="letter-spacing:-0.75pt;"> </font>price<font style="letter-spacing:-0.7pt;"> </font>increase<font style="letter-spacing:-0.7pt;"> </font>that you<font style="letter-spacing:-0.3pt;"> </font>had<font style="letter-spacing:-0.3pt;"> </font>mentioned,<font style="letter-spacing:-0.25pt;"> </font>how<font style="letter-spacing:-0.3pt;"> </font>much<font style="letter-spacing:-0.25pt;"> </font>of<font style="letter-spacing:-0.3pt;"> </font>that<font style="letter-spacing:-0.3pt;"> </font>do<font style="letter-spacing:-0.25pt;"> </font>you<font style="letter-spacing:-0.3pt;"> </font>expect<font style="letter-spacing:-0.25pt;"> </font>to<font style="letter-spacing:-0.3pt;"> </font>get<font style="letter-spacing:-0.25pt;"> </font>on<font style="letter-spacing:-0.3pt;"> </font>a<font style="letter-spacing:-0.3pt;"> </font>net<font style="letter-spacing:-0.25pt;"> </font>basis?</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">And<font style="letter-spacing:-0.65pt;"> </font>then<font style="letter-spacing:-0.65pt;"> </font>my<font style="letter-spacing:-0.65pt;"> </font>second<font style="letter-spacing:-0.65pt;"> </font>question<font style="letter-spacing:-0.65pt;"> </font>is,<font style="letter-spacing:-0.7pt;"> </font>just<font style="letter-spacing:-0.65pt;"> </font>on<font style="letter-spacing:-0.65pt;"> </font>a<font style="letter-spacing:-0.65pt;"> </font>high<font style="letter-spacing:-0.65pt;"> </font>level,<font style="letter-spacing:-0.65pt;"> </font>what<font style="letter-spacing:-0.65pt;"> </font>opportunity<font style="letter-spacing:-0.65pt;"> </font>or<font style="letter-spacing:-0.65pt;"> </font>opportunities<font style="letter-spacing:-0.65pt;"> </font>do<font style="letter-spacing:-0.65pt;"> </font>you<font style="letter-spacing:-0.65pt;"> </font>see<font style="letter-spacing:-0.65pt;"> </font>in<font style="letter-spacing:-0.65pt;"> </font>your<font style="letter-spacing:-0.65pt;"> </font>pipeline<font style="letter-spacing:-0.65pt;"> </font>and<font style="letter-spacing:-0.65pt;"> </font>portfolio<font style="letter-spacing:-0.65pt;"> </font>that<font style="letter-spacing:-0.65pt;"> </font>could<font style="letter-spacing:-0.65pt;"> </font>be<font style="letter-spacing:-0.65pt;"> </font>as significant and impactful as<font style="letter-spacing:-1.05pt;"> </font>INGREZZA?</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="40._Eric_S._Benevich"></a>Eric S. Benevich <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - Chief Commercial Officer</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Well,<font style="letter-spacing:-0.6pt;"> </font>I'll<font style="letter-spacing:-0.55pt;"> </font>take<font style="letter-spacing:-0.55pt;"> </font>the<font style="letter-spacing:-0.55pt;"> </font>second<font style="letter-spacing:-0.55pt;"> </font>one,<font style="letter-spacing:-0.6pt;"> </font>Evan.<font style="letter-spacing:-0.55pt;"> </font>I<font style="letter-spacing:-0.55pt;"> </font>think<font style="letter-spacing:-0.55pt;"> </font>there<font style="letter-spacing:-0.55pt;"> </font>are<font style="letter-spacing:-0.6pt;"> </font>several<font style="letter-spacing:-0.55pt;"> </font>compounds<font style="letter-spacing:-0.55pt;"> </font>that<font style="letter-spacing:-0.55pt;"> </font>we<font style="letter-spacing:-0.55pt;"> </font>have<font style="letter-spacing:-0.55pt;"> </font>there<font style="letter-spacing:-0.6pt;"> </font>that<font style="letter-spacing:-0.55pt;"> </font>can<font style="letter-spacing:-0.55pt;"> </font>be<font style="letter-spacing:-0.55pt;"> </font>as<font style="letter-spacing:-0.55pt;"> </font>impactful<font style="letter-spacing:-0.6pt;"> </font>and<font style="letter-spacing:-0.55pt;"> </font>even<font style="letter-spacing:-0.55pt;"> </font>more<font style="letter-spacing:-0.55pt;"> </font>impactful<font style="letter-spacing:-0.55pt;"> </font><font style="letter-spacing:-0.45pt;">to </font>patients<font style="letter-spacing:-0.5pt;"> </font>because<font style="letter-spacing:-0.45pt;"> </font>of<font style="letter-spacing:-0.5pt;"> </font>the<font style="letter-spacing:-0.45pt;"> </font>devastating<font style="letter-spacing:-0.45pt;"> </font>effects<font style="letter-spacing:-0.5pt;"> </font>of<font style="letter-spacing:-0.45pt;"> </font>these<font style="letter-spacing:-0.5pt;"> </font>pediatric<font style="letter-spacing:-0.45pt;"> </font>epilepsies<font style="letter-spacing:-0.45pt;"> </font>that<font style="letter-spacing:-0.5pt;"> </font>we<font style="letter-spacing:-0.45pt;"> </font>see.<font style="letter-spacing:-0.5pt;"> </font>These<font style="letter-spacing:-0.45pt;"> </font>children<font style="letter-spacing:-0.45pt;"> </font>--<font style="letter-spacing:-0.5pt;"> </font>these<font style="letter-spacing:-0.45pt;"> </font>babies<font style="letter-spacing:-0.5pt;"> </font>need<font style="letter-spacing:-0.45pt;"> </font>these<font style="letter-spacing:-0.45pt;"> </font>medications<font style="letter-spacing:-0.5pt;"> </font>like right<font style="letter-spacing:-0.35pt;"> </font>now.<font style="letter-spacing:-0.3pt;"> </font>We<font style="letter-spacing:-0.3pt;"> </font>have<font style="letter-spacing:-0.3pt;"> </font>a<font style="letter-spacing:-0.3pt;"> </font>tremendous<font style="letter-spacing:-0.3pt;"> </font>sense<font style="letter-spacing:-0.35pt;"> </font>of<font style="letter-spacing:-0.3pt;"> </font>urgency<font style="letter-spacing:-0.3pt;"> </font>in<font style="letter-spacing:-0.3pt;"> </font>going<font style="letter-spacing:-0.3pt;"> </font>forward<font style="letter-spacing:-0.3pt;"> </font>--<font style="letter-spacing:-0.3pt;"> </font>in<font style="letter-spacing:-0.35pt;"> </font>going<font style="letter-spacing:-0.3pt;"> </font>forward<font style="letter-spacing:-0.3pt;"> </font>with<font style="letter-spacing:-0.3pt;"> </font>those.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Also within CAH, there's been nothing for these patients for decades now. And again, the impact that could be seen there. But at the end of the day, I would say that it sounds trite, but we wouldn't work on a clinical program or a preclinical program for a research molecule or mechanism unless<font style="letter-spacing:-0.15pt;"> </font>we<font style="letter-spacing:-0.1pt;"> </font>thought<font style="letter-spacing:-0.1pt;"> </font>that<font style="letter-spacing:-0.1pt;"> </font>there<font style="letter-spacing:-0.1pt;"> </font>was<font style="letter-spacing:-0.1pt;"> </font>a<font style="letter-spacing:-0.15pt;"> </font>real<font style="letter-spacing:-0.1pt;"> </font>impact<font style="letter-spacing:-0.1pt;"> </font>that<font style="letter-spacing:-0.1pt;"> </font>is<font style="letter-spacing:-0.1pt;"> </font>going<font style="letter-spacing:-0.1pt;"> </font>to<font style="letter-spacing:-0.1pt;"> </font>be<font style="letter-spacing:-0.15pt;"> </font>there.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="41._Matthew_C._Abernethy"></a>And<font style="letter-spacing:-0.95pt;"> </font>so<font style="letter-spacing:-0.9pt;"> </font>with<font style="letter-spacing:-0.95pt;"> </font>everything<font style="letter-spacing:-0.9pt;"> </font>that<font style="letter-spacing:-0.9pt;"> </font>we're<font style="letter-spacing:-0.95pt;"> </font>working<font style="letter-spacing:-0.9pt;"> </font>to<font style="letter-spacing:-0.95pt;"> </font>bring<font style="letter-spacing:-0.9pt;"> </font>to<font style="letter-spacing:-0.9pt;"> </font>market<font style="letter-spacing:-0.95pt;"> </font>right<font style="letter-spacing:-0.9pt;"> </font>now,<font style="letter-spacing:-0.95pt;"> </font>whether<font style="letter-spacing:-0.9pt;"> </font>you<font style="letter-spacing:-0.9pt;"> </font>talk<font style="letter-spacing:-0.95pt;"> </font>about<font style="letter-spacing:-0.9pt;"> </font>opicapone,<font style="letter-spacing:-0.95pt;"> </font>whether<font style="letter-spacing:-0.9pt;"> </font>you<font style="letter-spacing:-0.9pt;"> </font>talk<font style="letter-spacing:-0.95pt;"> </font>about<font style="letter-spacing:-0.9pt;"> </font>Huntington's, whether<font style="letter-spacing:-0.6pt;"> </font>you<font style="letter-spacing:-0.55pt;"> </font>talk<font style="letter-spacing:-0.55pt;"> </font>about<font style="letter-spacing:-0.55pt;"> </font>uterine<font style="letter-spacing:-0.6pt;"> </font>fibroids,<font style="letter-spacing:-0.55pt;"> </font>and<font style="letter-spacing:-0.55pt;"> </font>I<font style="letter-spacing:-0.55pt;"> </font>know<font style="letter-spacing:-0.6pt;"> </font>that,<font style="letter-spacing:-0.55pt;"> </font>that's<font style="letter-spacing:-0.55pt;"> </font>our<font style="letter-spacing:-0.55pt;"> </font>partner<font style="letter-spacing:-0.55pt;"> </font>that's<font style="letter-spacing:-0.6pt;"> </font>bringing<font style="letter-spacing:-0.55pt;"> </font>that<font style="letter-spacing:-0.55pt;"> </font>forward,<font style="letter-spacing:-0.55pt;"> </font>but<font style="letter-spacing:-0.6pt;"> </font>there's<font style="letter-spacing:-0.55pt;"> </font>millions<font style="letter-spacing:-0.55pt;"> </font>of<font style="letter-spacing:-0.55pt;"> </font>women<font style="letter-spacing:-0.55pt;"> </font><a name="41._Matthew_C._Abernethy"></a>suffering from<font style="letter-spacing:-0.55pt;"> </font>that.<font style="letter-spacing:-0.55pt;"> </font>And<font style="letter-spacing:-0.55pt;"> </font>as<font style="letter-spacing:-0.55pt;"> </font>I<font style="letter-spacing:-0.55pt;"> </font>said,<font style="letter-spacing:-0.5pt;"> </font>these<font style="letter-spacing:-0.55pt;"> </font>rare<font style="letter-spacing:-0.55pt;"> </font>pediatric<font style="letter-spacing:-0.55pt;"> </font>diseases,<font style="letter-spacing:-0.55pt;"> </font>our<font style="letter-spacing:-0.55pt;"> </font>work<font style="letter-spacing:-0.5pt;"> </font>with<font style="letter-spacing:-0.55pt;"> </font>Voyager<font style="letter-spacing:-0.55pt;"> </font>on<font style="letter-spacing:-0.55pt;"> </font>the<font style="letter-spacing:-0.55pt;"> </font>programs<font style="letter-spacing:-0.55pt;"> </font>that<font style="letter-spacing:-0.5pt;"> </font>we<font style="letter-spacing:-0.55pt;"> </font>have<font style="letter-spacing:-0.55pt;"> </font>going<font style="letter-spacing:-0.55pt;"> </font>on<font style="letter-spacing:-0.55pt;"> </font>there.<font style="letter-spacing:-0.55pt;"> </font>This<font style="letter-spacing:-0.5pt;"> </font>is<font style="letter-spacing:-0.55pt;"> </font>all<font style="letter-spacing:-0.55pt;"> </font>something we<font style="letter-spacing:-0.35pt;"> </font>don't<font style="letter-spacing:-0.35pt;"> </font>prioritize<font style="letter-spacing:-0.35pt;"> </font>in<font style="letter-spacing:-0.3pt;"> </font>rank<font style="letter-spacing:-0.35pt;"> </font>here<font style="letter-spacing:-0.35pt;"> </font>at<font style="letter-spacing:-0.35pt;"> </font>Neurocrine.<font style="letter-spacing:-0.3pt;"> </font>And<font style="letter-spacing:-0.35pt;"> </font>we<font style="letter-spacing:-0.35pt;"> </font>think<font style="letter-spacing:-0.3pt;"> </font>that<font style="letter-spacing:-0.35pt;"> </font>they<font style="letter-spacing:-0.35pt;"> </font>all<font style="letter-spacing:-0.35pt;"> </font>deserve<font style="letter-spacing:-0.3pt;"> </font>our<font style="letter-spacing:-0.35pt;"> </font>attention.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Matthew C. Abernethy <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - CFO</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="42._Operator"></a>Evan, this is Matt. So on the net pricing front, if you recall, we took a price increase in the middle of November. And we've not disclosed <font style="letter-spacing:-0.15pt;"><a name="42._Operator"></a>exactly </font>how<font style="letter-spacing:-0.15pt;"> </font>much<font style="letter-spacing:-0.1pt;"> </font>of<font style="letter-spacing:-0.1pt;"> </font>that<font style="letter-spacing:-0.15pt;"> </font>sticks,<font style="letter-spacing:-0.1pt;"> </font>but<font style="letter-spacing:-0.1pt;"> </font>I<font style="letter-spacing:-0.1pt;"> </font>would<font style="letter-spacing:-0.15pt;"> </font>just<font style="letter-spacing:-0.1pt;"> </font>tell<font style="letter-spacing:-0.1pt;"> </font>you,<font style="letter-spacing:-0.15pt;"> </font>a<font style="letter-spacing:-0.1pt;"> </font>large<font style="letter-spacing:-0.1pt;"> </font>majority<font style="letter-spacing:-0.1pt;"> </font>of<font style="letter-spacing:-0.15pt;"> </font>that<font style="letter-spacing:-0.1pt;"> </font>flows<font style="letter-spacing:-0.1pt;"> </font>through,<font style="letter-spacing:-0.15pt;"> </font>but<font style="letter-spacing:-0.1pt;"> </font>it's<font style="letter-spacing:-0.1pt;"> </font>not<font style="letter-spacing:-0.1pt;"> </font>at<font style="letter-spacing:-0.15pt;"> </font>100%.<font style="letter-spacing:-0.1pt;"> </font>So<font style="letter-spacing:-0.1pt;"> </font>you<font style="letter-spacing:-0.15pt;"> </font>would<font style="letter-spacing:-0.1pt;"> </font>get<font style="letter-spacing:-0.1pt;"> </font>about<font style="letter-spacing:-0.1pt;"> </font>half<font style="letter-spacing:-0.15pt;"> </font>a<font style="letter-spacing:-0.1pt;"> </font>quarter's benefit of that price increase in the first<font style="letter-spacing:-1.15pt;"> </font>quarter.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="43._David_A._Amsellem"></a><a name="_bookmark16"></a>Operator</p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">And we'll go next to David Amsellem with Piper Jaffray.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">David A. Amsellem <font style="font-style:italic;font-weight:normal;">- Piper Sandler &amp; Co., Research Division - MD and Senior Research Analyst</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="44._Eric_S._Benevich"></a>So just a couple. First, on INGREZZA, this is more of a longer-term question regarding the payer landscape, as the footprint of the product <font style="letter-spacing:-0.2pt;">grows, </font>and given the commentary about reauthorizations and some of the things that you're working through, at least in the first quarter. As we <font style="letter-spacing:-0.15pt;">think </font><a name="44._Eric_S._Benevich"></a>about INGREZZA beyond in 2020, should we think about a more restrictive payer landscape? Or do you expect that payers are going to put up  more roadblocks as volumes of the product<font style="letter-spacing:-0.9pt;"> </font>grows?</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">That's<font style="letter-spacing:-0.65pt;"> </font>number<font style="letter-spacing:-0.6pt;"> </font>one.<font style="letter-spacing:-0.6pt;"> </font>And<font style="letter-spacing:-0.6pt;"> </font>then<font style="letter-spacing:-0.6pt;"> </font>number<font style="letter-spacing:-0.65pt;"> </font>two<font style="letter-spacing:-0.6pt;"> </font>is<font style="letter-spacing:-0.6pt;"> </font>on<font style="letter-spacing:-0.6pt;"> </font>opicapone,<font style="letter-spacing:-0.6pt;"> </font>maybe<font style="letter-spacing:-0.65pt;"> </font>a<font style="letter-spacing:-0.6pt;"> </font>little<font style="letter-spacing:-0.6pt;"> </font>bit<font style="letter-spacing:-0.6pt;"> </font>early<font style="letter-spacing:-0.6pt;"> </font>for<font style="letter-spacing:-0.6pt;"> </font>you<font style="letter-spacing:-0.65pt;"> </font>to<font style="letter-spacing:-0.6pt;"> </font>talk<font style="letter-spacing:-0.6pt;"> </font>about<font style="letter-spacing:-0.6pt;"> </font>this,<font style="letter-spacing:-0.6pt;"> </font>but<font style="letter-spacing:-0.65pt;"> </font>can<font style="letter-spacing:-0.6pt;"> </font>you<font style="letter-spacing:-0.6pt;"> </font>give<font style="letter-spacing:-0.6pt;"> </font>us<font style="letter-spacing:-0.6pt;"> </font>a<font style="letter-spacing:-0.65pt;"> </font>sense<font style="letter-spacing:-0.6pt;"> </font>of<font style="letter-spacing:-0.6pt;"> </font>where you<font style="letter-spacing:-0.4pt;"> </font>think<font style="letter-spacing:-0.35pt;"> </font>gross<font style="letter-spacing:-0.4pt;"> </font>to<font style="letter-spacing:-0.35pt;"> </font>net<font style="letter-spacing:-0.4pt;"> </font>will<font style="letter-spacing:-0.35pt;"> </font>shake<font style="letter-spacing:-0.4pt;"> </font>out<font style="letter-spacing:-0.35pt;"> </font>on<font style="letter-spacing:-0.4pt;"> </font>that<font style="letter-spacing:-0.35pt;"> </font>product<font style="letter-spacing:-0.4pt;"> </font>and<font style="letter-spacing:-0.35pt;"> </font>also<font style="letter-spacing:-0.4pt;"> </font>your<font style="letter-spacing:-0.35pt;"> </font>expectation<font style="letter-spacing:-0.4pt;"> </font>regarding<font style="letter-spacing:-0.35pt;"> </font>step<font style="letter-spacing:-0.35pt;"> </font>edits<font style="letter-spacing:-0.4pt;"> </font>and<font style="letter-spacing:-0.35pt;"> </font>prior<font style="letter-spacing:-0.4pt;"> </font>auths<font style="letter-spacing:-0.35pt;"> </font>on<font style="letter-spacing:-0.4pt;"> </font>that?</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Eric S. Benevich <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - Chief Commercial Officer</font></p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Yes, David, so I'll comment on sort of how we're thinking about the future from a payer perspective for INGREZZA. We've got a little over 2 <font style="letter-spacing:-0.15pt;">years&nbsp;&nbsp;&nbsp;&nbsp;</font>in<font style="letter-spacing:0.05pt;"> </font>market<font style="letter-spacing:0.1pt;"> </font>now.<font style="letter-spacing:0.1pt;"> </font>And<font style="letter-spacing:0.1pt;"> </font>actually,<font style="letter-spacing:0.1pt;"> </font>we've<font style="letter-spacing:0.05pt;"> </font>been,<font style="letter-spacing:0.1pt;"> </font>as<font style="letter-spacing:0.1pt;"> </font>I<font style="letter-spacing:0.1pt;"> </font>said<font style="letter-spacing:0.1pt;"> </font>earlier,<font style="letter-spacing:0.1pt;"> </font>very<font style="letter-spacing:0.05pt;"> </font>pleased<font style="letter-spacing:0.1pt;"> </font>with<font style="letter-spacing:0.1pt;"> </font>the<font style="letter-spacing:0.1pt;"> </font>coverage<font style="letter-spacing:0.1pt;"> </font>that<font style="letter-spacing:0.1pt;"> </font>we've<font style="letter-spacing:0.05pt;"> </font>gotten<font style="letter-spacing:0.1pt;"> </font>and<font style="letter-spacing:0.1pt;"> </font>the<font style="letter-spacing:0.1pt;"> </font>high<font style="letter-spacing:0.1pt;"> </font>rate<font style="letter-spacing:0.1pt;"> </font>of<font style="letter-spacing:0.05pt;"> </font>filled<font style="letter-spacing:0.1pt;"> </font>prescriptions</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0.18%;text-indent:0%;color:#666666;font-size:8pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">THOMSON REUTERS STREETEVENTS | www.streetevents.com | Contact Us</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0.18%;text-indent:0%;color:#666666;font-size:5.5pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#169;2020 Thomson Reuters. All rights reserved. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is prohibited without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and <font style="letter-spacing:-0.2pt;">its </font>affiliated companies.</p></p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="gkqtdup4fqpe000002.jpg" title="" alt="" style="width:720px;height:28px;">
<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0.18%;text-indent:0%;color:#FFFFFF;font-size:12pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">FEBRUARY<font style="letter-spacing:-0.5pt;"> </font>04,<font style="letter-spacing:-0.5pt;"> </font>2020<font style="letter-spacing:-0.5pt;"> </font>/<font style="letter-spacing:-0.5pt;"> </font>9:30PM,<font style="letter-spacing:-0.5pt;"> </font>NBIX<font style="letter-spacing:-0.5pt;"> </font>-<font style="letter-spacing:-0.45pt;"> </font>Q4<font style="letter-spacing:-0.5pt;"> </font>2019<font style="letter-spacing:-0.5pt;"> </font>Neurocrine<font style="letter-spacing:-0.5pt;"> </font>Biosciences<font style="letter-spacing:-0.5pt;"> </font>Inc<font style="letter-spacing:-0.5pt;"> </font>Earnings<font style="letter-spacing:-0.45pt;"> </font>Call</p></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">versus<font style="letter-spacing:-1.1pt;"> </font>written<font style="letter-spacing:-1.1pt;"> </font>prescriptions.<font style="letter-spacing:-1.1pt;"> </font>We<font style="letter-spacing:-1.1pt;"> </font>care<font style="letter-spacing:-1.05pt;"> </font>a<font style="letter-spacing:-1.1pt;"> </font>great<font style="letter-spacing:-1.1pt;"> </font>deal<font style="letter-spacing:-1.1pt;"> </font>about<font style="letter-spacing:-1.1pt;"> </font>patient<font style="letter-spacing:-1.05pt;"> </font>access,<font style="letter-spacing:-1.1pt;"> </font>and<font style="letter-spacing:-1.1pt;"> </font>we've<font style="letter-spacing:-1.1pt;"> </font>invested<font style="letter-spacing:-1.1pt;"> </font>heavily<font style="letter-spacing:-1.05pt;"> </font>to<font style="letter-spacing:-1.1pt;"> </font>make<font style="letter-spacing:-1.1pt;"> </font>sure<font style="letter-spacing:-1.1pt;"> </font>that<font style="letter-spacing:-1.1pt;"> </font>patients<font style="letter-spacing:-1.05pt;"> </font>that<font style="letter-spacing:-1.1pt;"> </font>need<font style="letter-spacing:-1.1pt;"> </font>INGREZZA can<font style="letter-spacing:-0.25pt;"> </font>get<font style="letter-spacing:-0.2pt;"> </font>access<font style="letter-spacing:-0.25pt;"> </font>to<font style="letter-spacing:-0.2pt;"> </font>it.<font style="letter-spacing:-0.25pt;"> </font>And<font style="letter-spacing:-0.2pt;"> </font>we're<font style="letter-spacing:-0.2pt;"> </font>going<font style="letter-spacing:-0.25pt;"> </font>to<font style="letter-spacing:-0.2pt;"> </font>continue<font style="letter-spacing:-0.25pt;"> </font>to<font style="letter-spacing:-0.2pt;"> </font>do<font style="letter-spacing:-0.25pt;"> </font>so.<font style="letter-spacing:-0.2pt;"> </font>You<font style="letter-spacing:-0.2pt;"> </font>stated<font style="letter-spacing:-0.25pt;"> </font>rightly<font style="letter-spacing:-0.2pt;"> </font>that<font style="letter-spacing:-0.25pt;"> </font>the<font style="letter-spacing:-0.2pt;"> </font>profile<font style="letter-spacing:-0.2pt;"> </font>of<font style="letter-spacing:-0.25pt;"> </font>INGREZZA<font style="letter-spacing:-0.2pt;"> </font>has<font style="letter-spacing:-0.25pt;"> </font>grown<font style="letter-spacing:-0.2pt;"> </font>as<font style="letter-spacing:-0.25pt;"> </font>the<font style="letter-spacing:-0.2pt;"> </font>product<font style="letter-spacing:-0.2pt;"> </font>has<font style="letter-spacing:-0.25pt;"> </font>grown. But<font style="letter-spacing:-0.65pt;"> </font>the<font style="letter-spacing:-0.6pt;"> </font>reality<font style="letter-spacing:-0.65pt;"> </font>is<font style="letter-spacing:-0.6pt;"> </font>that<font style="letter-spacing:-0.6pt;"> </font>we've<font style="letter-spacing:-0.65pt;"> </font>also<font style="letter-spacing:-0.6pt;"> </font>been<font style="letter-spacing:-0.65pt;"> </font>very<font style="letter-spacing:-0.6pt;"> </font>heartened<font style="letter-spacing:-0.6pt;"> </font>by<font style="letter-spacing:-0.65pt;"> </font>the<font style="letter-spacing:-0.6pt;"> </font>willingness<font style="letter-spacing:-0.6pt;"> </font>of<font style="letter-spacing:-0.65pt;"> </font>the<font style="letter-spacing:-0.6pt;"> </font>providers<font style="letter-spacing:-0.65pt;"> </font>to<font style="letter-spacing:-0.6pt;"> </font>go<font style="letter-spacing:-0.6pt;"> </font>through<font style="letter-spacing:-0.65pt;"> </font>the<font style="letter-spacing:-0.6pt;"> </font>necessary<font style="letter-spacing:-0.65pt;"> </font>steps<font style="letter-spacing:-0.6pt;"> </font>to<font style="letter-spacing:-0.6pt;"> </font>get<font style="letter-spacing:-0.65pt;"> </font>access<font style="letter-spacing:-0.6pt;"> </font>for<font style="letter-spacing:-0.6pt;"> </font><font style="letter-spacing:-0.15pt;">their </font>patients<font style="letter-spacing:-0.65pt;"> </font>to<font style="letter-spacing:-0.65pt;"> </font>INGREZZA<font style="letter-spacing:-0.65pt;"> </font>to<font style="letter-spacing:-0.65pt;"> </font>doing<font style="letter-spacing:-0.65pt;"> </font>prior<font style="letter-spacing:-0.65pt;"> </font>authorizations<font style="letter-spacing:-0.65pt;"> </font>and<font style="letter-spacing:-0.65pt;"> </font>providing<font style="letter-spacing:-0.6pt;"> </font>the<font style="letter-spacing:-0.65pt;"> </font>information<font style="letter-spacing:-0.65pt;"> </font>that<font style="letter-spacing:-0.65pt;"> </font>the<font style="letter-spacing:-0.65pt;"> </font>health<font style="letter-spacing:-0.65pt;"> </font>plans<font style="letter-spacing:-0.65pt;"> </font>require<font style="letter-spacing:-0.65pt;"> </font>in<font style="letter-spacing:-0.65pt;"> </font>order<font style="letter-spacing:-0.6pt;"> </font>to<font style="letter-spacing:-0.65pt;"> </font>evaluate<font style="letter-spacing:-0.65pt;"> </font>a<font style="letter-spacing:-0.65pt;"> </font>request<font style="letter-spacing:-0.65pt;"> </font><font style="letter-spacing:-0.2pt;">for </font>coverage.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The<font style="letter-spacing:-0.45pt;"> </font>reality<font style="letter-spacing:-0.45pt;"> </font>is<font style="letter-spacing:-0.45pt;"> </font>that<font style="letter-spacing:-0.4pt;"> </font>INGREZZA<font style="letter-spacing:-0.45pt;"> </font>is<font style="letter-spacing:-0.45pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>most<font style="letter-spacing:-0.45pt;"> </font>preferred<font style="letter-spacing:-0.45pt;"> </font>and<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.45pt;"> </font>most<font style="letter-spacing:-0.45pt;"> </font>prescribed<font style="letter-spacing:-0.45pt;"> </font>VMAT2<font style="letter-spacing:-0.4pt;"> </font>inhibitor.<font style="letter-spacing:-0.45pt;"> </font>And<font style="letter-spacing:-0.45pt;"> </font>I<font style="letter-spacing:-0.4pt;"> </font>think<font style="letter-spacing:-0.45pt;"> </font>that's<font style="letter-spacing:-0.45pt;"> </font>reflected<font style="letter-spacing:-0.4pt;"> </font>in<font style="letter-spacing:-0.45pt;"> </font>the<font style="letter-spacing:-0.45pt;"> </font>willingness<font style="letter-spacing:-0.45pt;"> </font>of<font style="letter-spacing:-0.4pt;"> </font>providers to go to the extra length and to go to the next step in terms of helping their patients to get access to<font style="letter-spacing:-1.15pt;"> </font>it.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">So<font style="letter-spacing:-0.15pt;"> </font>I<font style="letter-spacing:-0.15pt;"> </font>don't<font style="letter-spacing:-0.15pt;"> </font>want<font style="letter-spacing:-0.15pt;"> </font>to<font style="letter-spacing:-0.15pt;"> </font>say<font style="letter-spacing:-0.15pt;"> </font>never.<font style="letter-spacing:-0.15pt;"> </font>But<font style="letter-spacing:-0.15pt;"> </font>the<font style="letter-spacing:-0.15pt;"> </font>reality<font style="letter-spacing:-0.15pt;"> </font>is<font style="letter-spacing:-0.15pt;"> </font>that<font style="letter-spacing:-0.15pt;"> </font>I<font style="letter-spacing:-0.15pt;"> </font>think<font style="letter-spacing:-0.15pt;"> </font>that<font style="letter-spacing:-0.15pt;"> </font>we're<font style="letter-spacing:-0.15pt;"> </font>in<font style="letter-spacing:-0.15pt;"> </font>somewhat<font style="letter-spacing:-0.15pt;"> </font>of<font style="letter-spacing:-0.15pt;"> </font>a<font style="letter-spacing:-0.15pt;"> </font>state<font style="letter-spacing:-0.15pt;"> </font>of<font style="letter-spacing:-0.15pt;"> </font>homeostasis,<font style="letter-spacing:-0.15pt;"> </font>where<font style="letter-spacing:-0.15pt;"> </font>we<font style="letter-spacing:-0.15pt;"> </font>are<font style="letter-spacing:-0.15pt;"> </font>now<font style="letter-spacing:-0.15pt;"> </font>in<font style="letter-spacing:-0.15pt;"> </font>terms<font style="letter-spacing:-0.15pt;"> </font>of<font style="letter-spacing:-0.15pt;"> </font>plans<font style="letter-spacing:-0.15pt;"> </font>that are looking at making changes to their -- to their coverage criteria. It's always going to be evolving over time, and we'll continue to work with the health<font style="letter-spacing:-0.15pt;"> </font>plans<font style="letter-spacing:-0.1pt;"> </font>to<font style="letter-spacing:-0.15pt;"> </font>help<font style="letter-spacing:-0.1pt;"> </font>them<font style="letter-spacing:-0.15pt;"> </font>understand<font style="letter-spacing:-0.1pt;"> </font>the<font style="letter-spacing:-0.1pt;"> </font>value<font style="letter-spacing:-0.15pt;"> </font>that<font style="letter-spacing:-0.1pt;"> </font>treatment<font style="letter-spacing:-0.15pt;"> </font>with<font style="letter-spacing:-0.1pt;"> </font>INGREZZA<font style="letter-spacing:-0.1pt;"> </font>provides<font style="letter-spacing:-0.15pt;"> </font>for<font style="letter-spacing:-0.1pt;"> </font>these<font style="letter-spacing:-0.15pt;"> </font>patients<font style="letter-spacing:-0.1pt;"> </font>and<font style="letter-spacing:-0.1pt;"> </font>also<font style="letter-spacing:-0.15pt;"> </font>to<font style="letter-spacing:-0.1pt;"> </font>make<font style="letter-spacing:-0.15pt;"> </font>sure<font style="letter-spacing:-0.1pt;"> </font>that<font style="letter-spacing:-0.15pt;"> </font>their<font style="letter-spacing:-0.1pt;"> </font>coverage criteria remain appropriate, medically appropriate for this complicated patient populations that develop TD. So we've been successful. We're <font style="letter-spacing:-0.15pt;">going </font>to continue to invest in making sure that there's good coverage for these patients because that's our<font style="letter-spacing:-0.25pt;"> </font>responsibility.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">And I think the second part of your question was really around opicapone, maybe what the coverage might look like early on, and I think you asked also about gross to net. I'm not going to comment on the gross to net piece, we certainly don't provide that kind of detail with regards to INGREZZA today. But I will say that just like with INGREZZA, access for patients with Parkinson's disease to opicapone will be critically important, and we recognize that there are treatments out there for patients on -- with Parkinson's on levodopa that are experiencing motor fluctuations.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We've<font style="letter-spacing:-0.7pt;"> </font>also<font style="letter-spacing:-0.65pt;"> </font>said<font style="letter-spacing:-0.65pt;"> </font>previously<font style="letter-spacing:-0.7pt;"> </font>that<font style="letter-spacing:-0.65pt;"> </font>we<font style="letter-spacing:-0.65pt;"> </font>don't<font style="letter-spacing:-0.7pt;"> </font>expect<font style="letter-spacing:-0.65pt;"> </font>to<font style="letter-spacing:-0.65pt;"> </font>price<font style="letter-spacing:-0.7pt;"> </font>this<font style="letter-spacing:-0.65pt;"> </font>as<font style="letter-spacing:-0.65pt;"> </font>a<font style="letter-spacing:-0.7pt;"> </font>specialty<font style="letter-spacing:-0.65pt;"> </font>medicine.<font style="letter-spacing:-0.65pt;"> </font>In<font style="letter-spacing:-0.65pt;"> </font>other<font style="letter-spacing:-0.7pt;"> </font>words,<font style="letter-spacing:-0.65pt;"> </font>it<font style="letter-spacing:-0.65pt;"> </font>would<font style="letter-spacing:-0.7pt;"> </font>be<font style="letter-spacing:-0.65pt;"> </font>a<font style="letter-spacing:-0.65pt;"> </font>lack<font style="letter-spacing:-0.7pt;"> </font>price<font style="letter-spacing:-0.65pt;"> </font>below<font style="letter-spacing:-0.65pt;"> </font>$600<font style="letter-spacing:-0.7pt;"> </font>a<font style="letter-spacing:-0.65pt;"> </font>month. And<font style="letter-spacing:-0.4pt;"> </font>that's<font style="letter-spacing:-0.4pt;"> </font>really<font style="letter-spacing:-0.4pt;"> </font>part<font style="letter-spacing:-0.4pt;"> </font>of<font style="letter-spacing:-0.35pt;"> </font>our<font style="letter-spacing:-0.4pt;"> </font>strategy<font style="letter-spacing:-0.4pt;"> </font>to<font style="letter-spacing:-0.4pt;"> </font>make<font style="letter-spacing:-0.4pt;"> </font>sure<font style="letter-spacing:-0.35pt;"> </font>that<font style="letter-spacing:-0.4pt;"> </font>we<font style="letter-spacing:-0.4pt;"> </font>have<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>best<font style="letter-spacing:-0.35pt;"> </font>possible<font style="letter-spacing:-0.4pt;"> </font>access<font style="letter-spacing:-0.4pt;"> </font>for<font style="letter-spacing:-0.4pt;"> </font>patients.<font style="letter-spacing:-0.4pt;"> </font>We'll<font style="letter-spacing:-0.35pt;"> </font>be<font style="letter-spacing:-0.4pt;"> </font>able<font style="letter-spacing:-0.4pt;"> </font>to<font style="letter-spacing:-0.4pt;"> </font>use<font style="letter-spacing:-0.4pt;"> </font>some<font style="letter-spacing:-0.35pt;"> </font>of<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>learnings from<font style="letter-spacing:-0.6pt;"> </font>our<font style="letter-spacing:-0.6pt;"> </font>INGREZZA<font style="letter-spacing:-0.6pt;"> </font>launch<font style="letter-spacing:-0.6pt;"> </font>and<font style="letter-spacing:-0.6pt;"> </font>the<font style="letter-spacing:-0.55pt;"> </font>resources<font style="letter-spacing:-0.6pt;"> </font>that<font style="letter-spacing:-0.6pt;"> </font>we've<font style="letter-spacing:-0.6pt;"> </font>developed<font style="letter-spacing:-0.6pt;"> </font>in<font style="letter-spacing:-0.55pt;"> </font>the<font style="letter-spacing:-0.6pt;"> </font>infrastructure,<font style="letter-spacing:-0.6pt;"> </font>such<font style="letter-spacing:-0.6pt;"> </font>as<font style="letter-spacing:-0.6pt;"> </font>our<font style="letter-spacing:-0.6pt;"> </font>patient<font style="letter-spacing:-0.55pt;"> </font>access<font style="letter-spacing:-0.6pt;"> </font>team,<font style="letter-spacing:-0.6pt;"> </font>which<font style="letter-spacing:-0.6pt;"> </font>is<font style="letter-spacing:-0.6pt;"> </font>in<font style="letter-spacing:-0.55pt;"> </font>the<font style="letter-spacing:-0.6pt;"> </font>field<font style="letter-spacing:-0.6pt;"> </font>to help<font style="letter-spacing:-1.6pt;"> </font>support<font style="letter-spacing:-1.55pt;"> </font>our<font style="letter-spacing:-1.55pt;"> </font>customers<font style="letter-spacing:-1.55pt;"> </font>understanding<font style="letter-spacing:-1.55pt;"> </font>what<font style="letter-spacing:-1.55pt;"> </font>the<font style="letter-spacing:-1.55pt;"> </font>coverage<font style="letter-spacing:-1.55pt;"> </font>criteria<font style="letter-spacing:-1.55pt;"> </font>are.<font style="letter-spacing:-1.55pt;"> </font>But<font style="letter-spacing:-1.55pt;"> </font>the<font style="letter-spacing:-1.55pt;"> </font>reality<font style="letter-spacing:-1.55pt;"> </font>is,<font style="letter-spacing:-1.55pt;"> </font>early<font style="letter-spacing:-1.55pt;"> </font>in<font style="letter-spacing:-1.55pt;"> </font>the<font style="letter-spacing:-1.55pt;"> </font>launch,<font style="letter-spacing:-1.55pt;"> </font>it's<font style="letter-spacing:-1.55pt;"> </font>not<font style="letter-spacing:-1.55pt;"> </font>going<font style="letter-spacing:-1.55pt;"> </font>to<font style="letter-spacing:-1.55pt;"> </font>be<font style="letter-spacing:-1.55pt;"> </font>on<font style="letter-spacing:-1.55pt;"> </font>any<font style="letter-spacing:-1.55pt;"> </font><font style="letter-spacing:-0.1pt;">formularies. </font>And<font style="letter-spacing:-0.75pt;"> </font>so<font style="letter-spacing:-0.7pt;"> </font>we're<font style="letter-spacing:-0.75pt;"> </font>going<font style="letter-spacing:-0.7pt;"> </font>to<font style="letter-spacing:-0.75pt;"> </font>have<font style="letter-spacing:-0.7pt;"> </font>to<font style="letter-spacing:-0.7pt;"> </font>help<font style="letter-spacing:-0.75pt;"> </font>them<font style="letter-spacing:-0.7pt;"> </font>understand<font style="letter-spacing:-0.75pt;"> </font>that<font style="letter-spacing:-0.7pt;"> </font>for<font style="letter-spacing:-0.75pt;"> </font>these<font style="letter-spacing:-0.7pt;"> </font>patients,<font style="letter-spacing:-0.7pt;"> </font>but<font style="letter-spacing:-0.75pt;"> </font>there<font style="letter-spacing:-0.7pt;"> </font>will<font style="letter-spacing:-0.75pt;"> </font>be<font style="letter-spacing:-0.7pt;"> </font>a<font style="letter-spacing:-0.75pt;"> </font>formulary<font style="letter-spacing:-0.7pt;"> </font>exceptions<font style="letter-spacing:-0.7pt;"> </font>process<font style="letter-spacing:-0.75pt;"> </font>to<font style="letter-spacing:-0.7pt;"> </font>get<font style="letter-spacing:-0.75pt;"> </font>prescriptions approved for<font style="letter-spacing:-0.55pt;"> </font>opicapone.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="45._Operator"></a>So<font style="letter-spacing:-0.95pt;"> </font>we're<font style="letter-spacing:-0.95pt;"> </font>going<font style="letter-spacing:-0.95pt;"> </font>to<font style="letter-spacing:-0.95pt;"> </font>make<font style="letter-spacing:-0.95pt;"> </font>sure<font style="letter-spacing:-0.9pt;"> </font>that<font style="letter-spacing:-0.95pt;"> </font>we<font style="letter-spacing:-0.95pt;"> </font>can<font style="letter-spacing:-0.95pt;"> </font>do<font style="letter-spacing:-0.95pt;"> </font>everything<font style="letter-spacing:-0.9pt;"> </font>in<font style="letter-spacing:-0.95pt;"> </font>our<font style="letter-spacing:-0.95pt;"> </font>power<font style="letter-spacing:-0.95pt;"> </font>to<font style="letter-spacing:-0.95pt;"> </font>make<font style="letter-spacing:-0.9pt;"> </font>it<font style="letter-spacing:-0.95pt;"> </font>as<font style="letter-spacing:-0.95pt;"> </font>convenient<font style="letter-spacing:-0.95pt;"> </font>as<font style="letter-spacing:-0.95pt;"> </font>possible<font style="letter-spacing:-0.9pt;"> </font>for<font style="letter-spacing:-0.95pt;"> </font>patients<font style="letter-spacing:-0.95pt;"> </font>and<font style="letter-spacing:-0.95pt;"> </font>for<font style="letter-spacing:-0.95pt;"> </font>providers<font style="letter-spacing:-0.95pt;"> </font>to<font style="letter-spacing:-0.9pt;"> </font>get<font style="letter-spacing:-0.95pt;"> </font>those prescriptions<font style="letter-spacing:-0.75pt;"> </font>written<font style="letter-spacing:-0.7pt;"> </font>and<font style="letter-spacing:-0.7pt;"> </font>filled.<font style="letter-spacing:-0.7pt;"> </font>And<font style="letter-spacing:-0.7pt;"> </font>we're<font style="letter-spacing:-0.7pt;"> </font>going<font style="letter-spacing:-0.7pt;"> </font>to<font style="letter-spacing:-0.7pt;"> </font>take<font style="letter-spacing:-0.75pt;"> </font>everything<font style="letter-spacing:-0.7pt;"> </font>that<font style="letter-spacing:-0.7pt;"> </font>we've<font style="letter-spacing:-0.7pt;"> </font>learned<font style="letter-spacing:-0.7pt;"> </font>from<font style="letter-spacing:-0.7pt;"> </font>the<font style="letter-spacing:-0.7pt;"> </font>INGREZZA<font style="letter-spacing:-0.7pt;"> </font>launch<font style="letter-spacing:-0.7pt;"> </font>and<font style="letter-spacing:-0.75pt;"> </font>apply<font style="letter-spacing:-0.7pt;"> </font>it<font style="letter-spacing:-0.7pt;"> </font>here<font style="letter-spacing:-0.7pt;"> </font>to<font style="letter-spacing:-0.7pt;"> </font><a name="45._Operator"></a>opicapone because<font style="letter-spacing:-0.6pt;"> </font>we<font style="letter-spacing:-0.6pt;"> </font>believe<font style="letter-spacing:-0.55pt;"> </font>that<font style="letter-spacing:-0.6pt;"> </font>there<font style="letter-spacing:-0.55pt;"> </font>is<font style="letter-spacing:-0.6pt;"> </font>as<font style="letter-spacing:-0.55pt;"> </font>yet<font style="letter-spacing:-0.6pt;"> </font>a<font style="letter-spacing:-0.6pt;"> </font>remaining<font style="letter-spacing:-0.55pt;"> </font>significant<font style="letter-spacing:-0.6pt;"> </font>unmet<font style="letter-spacing:-0.55pt;"> </font>need<font style="letter-spacing:-0.6pt;"> </font>in<font style="letter-spacing:-0.55pt;"> </font>this<font style="letter-spacing:-0.6pt;"> </font>patient<font style="letter-spacing:-0.6pt;"> </font>population.<font style="letter-spacing:-0.55pt;"> </font>A<font style="letter-spacing:-0.6pt;"> </font>lot<font style="letter-spacing:-0.55pt;"> </font>of<font style="letter-spacing:-0.6pt;"> </font>people<font style="letter-spacing:-0.55pt;"> </font>that<font style="letter-spacing:-0.6pt;"> </font>are<font style="letter-spacing:-0.6pt;"> </font>not<font style="letter-spacing:-0.55pt;"> </font>optimized<font style="letter-spacing:-0.6pt;"> </font>with their<font style="letter-spacing:-0.4pt;"> </font>levodopa<font style="letter-spacing:-0.35pt;"> </font>therapies<font style="letter-spacing:-0.35pt;"> </font>that<font style="letter-spacing:-0.4pt;"> </font>are<font style="letter-spacing:-0.35pt;"> </font>experiencing<font style="letter-spacing:-0.4pt;"> </font>hours<font style="letter-spacing:-0.35pt;"> </font>and<font style="letter-spacing:-0.35pt;"> </font>hours<font style="letter-spacing:-0.4pt;"> </font>per<font style="letter-spacing:-0.35pt;"> </font>day<font style="letter-spacing:-0.35pt;"> </font>of<font style="letter-spacing:-0.4pt;"> </font>off<font style="letter-spacing:-0.35pt;"> </font>time.<font style="letter-spacing:-0.35pt;"> </font>And<font style="letter-spacing:-0.4pt;"> </font>we've<font style="letter-spacing:-0.35pt;"> </font>got<font style="letter-spacing:-0.35pt;"> </font>a<font style="letter-spacing:-0.4pt;"> </font>product<font style="letter-spacing:-0.35pt;"> </font>that<font style="letter-spacing:-0.35pt;"> </font>we<font style="letter-spacing:-0.4pt;"> </font>hope<font style="letter-spacing:-0.35pt;"> </font>to<font style="letter-spacing:-0.35pt;"> </font>bring<font style="letter-spacing:-0.4pt;"> </font>to<font style="letter-spacing:-0.35pt;"> </font>market<font style="letter-spacing:-0.35pt;"> </font><font style="letter-spacing:-0.45pt;">in </font>the<font style="letter-spacing:-0.35pt;"> </font>not-too-distant<font style="letter-spacing:-0.3pt;"> </font>future,<font style="letter-spacing:-0.3pt;"> </font>that<font style="letter-spacing:-0.35pt;"> </font>can<font style="letter-spacing:-0.3pt;"> </font>make<font style="letter-spacing:-0.3pt;"> </font>a<font style="letter-spacing:-0.35pt;"> </font>significant<font style="letter-spacing:-0.3pt;"> </font>difference<font style="letter-spacing:-0.3pt;"> </font>for<font style="letter-spacing:-0.35pt;"> </font>those<font style="letter-spacing:-0.3pt;"> </font>patients.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="46._Marc_Harold_Goodman"></a><a name="_bookmark17"></a>Operator</p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">And next, we'll go to Marc Goodman with SVB Leerink.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="47._Matthew_C._Abernethy"></a>Marc Harold Goodman <font style="font-style:italic;font-weight:normal;">- SVB Leerink LLC, Research Division - MD of Neuroscience &amp; Senior Research Analyst</font></p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Hey, Matt, I was wondering if you could talk about the spending and just the push and pulls from year-to-year and how to think about -- any more color you're willing to give us on SG&amp;A versus R&amp;D? Or just on a relative basis, even if you don't want to talk absolutes?</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Matthew C. Abernethy <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - CFO</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Yes, sure, Marc. I appreciate the question. So 2020 is going to be another investment year for Neurocrine, and in particular, on the research and development front. As we mentioned earlier, doubling the pipeline puts us in a place where we're going to have a larger portion of our spend increase year-on-year going towards R&amp;D. And that really sets us up to fund the 3 registrational programs, the Huntington's disease program, CAH as well as the VY-AADC trial as well.</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="gkqtdup4fqpe000002.jpg" title="" alt="" style="width:720px;height:28px;">
<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0.18%;text-indent:0%;color:#FFFFFF;font-size:12pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">FEBRUARY<font style="letter-spacing:-0.5pt;"> </font>04,<font style="letter-spacing:-0.5pt;"> </font>2020<font style="letter-spacing:-0.5pt;"> </font>/<font style="letter-spacing:-0.5pt;"> </font>9:30PM,<font style="letter-spacing:-0.5pt;"> </font>NBIX<font style="letter-spacing:-0.5pt;"> </font>-<font style="letter-spacing:-0.45pt;"> </font>Q4<font style="letter-spacing:-0.5pt;"> </font>2019<font style="letter-spacing:-0.5pt;"> </font>Neurocrine<font style="letter-spacing:-0.5pt;"> </font>Biosciences<font style="letter-spacing:-0.5pt;"> </font>Inc<font style="letter-spacing:-0.5pt;"> </font>Earnings<font style="letter-spacing:-0.45pt;"> </font>Call</p></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">And<font style="letter-spacing:-0.35pt;"> </font>then<font style="letter-spacing:-0.35pt;"> </font>in<font style="letter-spacing:-0.35pt;"> </font>addition<font style="letter-spacing:-0.35pt;"> </font>to<font style="letter-spacing:-0.35pt;"> </font>that,<font style="letter-spacing:-0.35pt;"> </font>funding<font style="letter-spacing:-0.35pt;"> </font>some<font style="letter-spacing:-0.35pt;"> </font>of<font style="letter-spacing:-0.3pt;"> </font>the<font style="letter-spacing:-0.35pt;"> </font>earlier<font style="letter-spacing:-0.35pt;"> </font>stage<font style="letter-spacing:-0.35pt;"> </font>programs,<font style="letter-spacing:-0.35pt;"> </font>like<font style="letter-spacing:-0.35pt;"> </font>Xenon<font style="letter-spacing:-0.35pt;"> </font>and<font style="letter-spacing:-0.35pt;"> </font>getting<font style="letter-spacing:-0.3pt;"> </font>the<font style="letter-spacing:-0.35pt;"> </font>program<font style="letter-spacing:-0.35pt;"> </font>up<font style="letter-spacing:-0.35pt;"> </font>and<font style="letter-spacing:-0.35pt;"> </font>running.<font style="letter-spacing:-0.35pt;"> </font>So<font style="letter-spacing:-0.35pt;"> </font>a<font style="letter-spacing:-0.35pt;"> </font>lot<font style="letter-spacing:-0.3pt;"> </font>of<font style="letter-spacing:-0.35pt;"> </font><font style="letter-spacing:-0.15pt;">dollars </font>going<font style="letter-spacing:-1.2pt;"> </font>behind<font style="letter-spacing:-1.2pt;"> </font>R&amp;D.<font style="letter-spacing:-1.2pt;"> </font>On<font style="letter-spacing:-1.2pt;"> </font>the<font style="letter-spacing:-1.2pt;"> </font>SG&amp;A<font style="letter-spacing:-1.25pt;"> </font>front,<font style="letter-spacing:-1.2pt;"> </font>really<font style="letter-spacing:-1.2pt;"> </font>focused<font style="letter-spacing:-1.2pt;"> </font>on<font style="letter-spacing:-1.2pt;"> </font>continuing<font style="letter-spacing:-1.2pt;"> </font>to<font style="letter-spacing:-1.2pt;"> </font>invest<font style="letter-spacing:-1.2pt;"> </font>dollars<font style="letter-spacing:-1.2pt;"> </font>behind<font style="letter-spacing:-1.2pt;"> </font>INGREZZA<font style="letter-spacing:-1.2pt;"> </font>as<font style="letter-spacing:-1.2pt;"> </font>well<font style="letter-spacing:-1.2pt;"> </font>as<font style="letter-spacing:-1.2pt;"> </font>then<font style="letter-spacing:-1.2pt;"> </font>the<font style="letter-spacing:-1.2pt;"> </font>marketing<font style="letter-spacing:-1.2pt;"> </font>cost<font style="letter-spacing:-1.2pt;"> </font>associated with<font style="letter-spacing:-0.75pt;"> </font>preparing<font style="letter-spacing:-0.75pt;"> </font>for<font style="letter-spacing:-0.75pt;"> </font>the<font style="letter-spacing:-0.75pt;"> </font>opicapone<font style="letter-spacing:-0.75pt;"> </font>launch.<font style="letter-spacing:-0.75pt;"> </font>So<font style="letter-spacing:-0.75pt;"> </font>we're<font style="letter-spacing:-0.75pt;"> </font>looking<font style="letter-spacing:-0.75pt;"> </font>forward<font style="letter-spacing:-0.75pt;"> </font>to<font style="letter-spacing:-0.75pt;"> </font>the<font style="letter-spacing:-0.75pt;"> </font>investments<font style="letter-spacing:-0.75pt;"> </font>that<font style="letter-spacing:-0.75pt;"> </font>we're<font style="letter-spacing:-0.75pt;"> </font>going<font style="letter-spacing:-0.75pt;"> </font>to<font style="letter-spacing:-0.75pt;"> </font>be<font style="letter-spacing:-0.75pt;"> </font>putting<font style="letter-spacing:-0.75pt;"> </font>in<font style="letter-spacing:-0.75pt;"> </font>place<font style="letter-spacing:-0.75pt;"> </font>next<font style="letter-spacing:-0.75pt;"> </font>year.<font style="letter-spacing:-0.75pt;"> </font>We<font style="letter-spacing:-0.75pt;"> </font>really feel<font style="letter-spacing:-0.35pt;"> </font>like<font style="letter-spacing:-0.3pt;"> </font>it's<font style="letter-spacing:-0.35pt;"> </font>going<font style="letter-spacing:-0.3pt;"> </font>to<font style="letter-spacing:-0.35pt;"> </font>position<font style="letter-spacing:-0.3pt;"> </font>us<font style="letter-spacing:-0.35pt;"> </font>to<font style="letter-spacing:-0.3pt;"> </font>continue<font style="letter-spacing:-0.35pt;"> </font>to<font style="letter-spacing:-0.3pt;"> </font>evolve<font style="letter-spacing:-0.35pt;"> </font>our<font style="letter-spacing:-0.3pt;"> </font>pipeline<font style="letter-spacing:-0.3pt;"> </font>and<font style="letter-spacing:-0.35pt;"> </font>really<font style="letter-spacing:-0.3pt;"> </font>set<font style="letter-spacing:-0.35pt;"> </font>us<font style="letter-spacing:-0.3pt;"> </font>up<font style="letter-spacing:-0.35pt;"> </font>well<font style="letter-spacing:-0.3pt;"> </font>going<font style="letter-spacing:-0.35pt;"> </font>into<font style="letter-spacing:-0.3pt;"> </font>the<font style="letter-spacing:-0.35pt;"> </font>future.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="48._Marc_Harold_Goodman"></a>Marc Harold Goodman <font style="font-style:italic;font-weight:normal;">- SVB Leerink LLC, Research Division - MD of Neuroscience &amp; Senior Research Analyst</font></p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Are both line items increasing year-over-year?</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="49._Matthew_C._Abernethy"></a>Matthew C. Abernethy <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - CFO</font></p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.73%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="50._Operator"></a><a name="50._Operator"></a>Yes. Both line items are increasing year-on-year, but we'd say both from a percentage and the dollar perspective, R&amp;D would be going up at a faster rate.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Operator</p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="51._Joseph_Robert_Stringer"></a><a name="_bookmark18"></a>And our final question will come from Joseph Stringer with Needham &amp; Company.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Joseph Robert Stringer <font style="font-style:italic;font-weight:normal;">- Needham &amp; Company, LLC, Research Division - Associate</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This<font style="letter-spacing:-1.15pt;"> </font>is<font style="letter-spacing:-1.1pt;"> </font>Joey<font style="letter-spacing:-1.1pt;"> </font>on<font style="letter-spacing:-1.1pt;"> </font>for<font style="letter-spacing:-1.1pt;"> </font>Alan.<font style="letter-spacing:-1.1pt;"> </font>Another<font style="letter-spacing:-1.1pt;"> </font>one<font style="letter-spacing:-1.1pt;"> </font>on<font style="letter-spacing:-1.1pt;"> </font>opicapone.<font style="letter-spacing:-1.1pt;"> </font>Maybe<font style="letter-spacing:-1.15pt;"> </font>you<font style="letter-spacing:-1.1pt;"> </font>could<font style="letter-spacing:-1.1pt;"> </font>talk<font style="letter-spacing:-1.1pt;"> </font>just<font style="letter-spacing:-1.1pt;"> </font>generally<font style="letter-spacing:-1.1pt;"> </font>about<font style="letter-spacing:-1.1pt;"> </font>market<font style="letter-spacing:-1.1pt;"> </font>share,<font style="letter-spacing:-1.1pt;"> </font>total<font style="letter-spacing:-1.1pt;"> </font>market<font style="letter-spacing:-1.15pt;"> </font>share<font style="letter-spacing:-1.1pt;"> </font>for<font style="letter-spacing:-1.1pt;"> </font>COMT<font style="letter-spacing:-1.1pt;"> </font>therapies given the generic options<font style="letter-spacing:-1.05pt;"> </font>available?</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="52._Eric_S._Benevich"></a><a name="52._Eric_S._Benevich"></a>And maybe just in terms of the patients that you'll be targeting in terms of maybe a breakdown of patients that are currently on therapy who are inadequate responders versus patients who have discontinued the current standard of care therapy and then maybe treatment-naive patients, maybe give a -- if you could comment on where you expect to see the most initial use?</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Eric S. Benevich <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - Chief Commercial Officer</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Yes. So COMT utilization in the U.S. is about 8% to 10% of the total adjunctive treatment market. And so taking a step back, there's roughly 1<font style="letter-spacing:-1.1pt;"> </font>million patients in the U.S. with Parkinson's of those about 70% are currently taking levodopa. And of those, another 70% or so are on an adjunctive treatment.<font style="letter-spacing:-0.5pt;"> </font>COMT<font style="letter-spacing:-0.45pt;"> </font>is<font style="letter-spacing:-0.45pt;"> </font>not<font style="letter-spacing:-0.45pt;"> </font>broadly<font style="letter-spacing:-0.45pt;"> </font>used<font style="letter-spacing:-0.45pt;"> </font>in<font style="letter-spacing:-0.45pt;"> </font>the<font style="letter-spacing:-0.45pt;"> </font>U.S.<font style="letter-spacing:-0.45pt;"> </font>I<font style="letter-spacing:-0.5pt;"> </font>think<font style="letter-spacing:-0.45pt;"> </font>because<font style="letter-spacing:-0.45pt;"> </font>of<font style="letter-spacing:-0.45pt;"> </font>the<font style="letter-spacing:-0.45pt;"> </font>deficiencies<font style="letter-spacing:-0.45pt;"> </font>of<font style="letter-spacing:-0.45pt;"> </font>the<font style="letter-spacing:-0.45pt;"> </font>existing<font style="letter-spacing:-0.45pt;"> </font>treatments<font style="letter-spacing:-0.45pt;"> </font>historically,<font style="letter-spacing:-0.5pt;"> </font>the<font style="letter-spacing:-0.45pt;"> </font>current<font style="letter-spacing:-0.45pt;"> </font>COMT<font style="letter-spacing:-0.45pt;"> </font>inhibitors have<font style="letter-spacing:0.3pt;"> </font>failed<font style="letter-spacing:0.35pt;"> </font>to<font style="letter-spacing:0.3pt;"> </font>deliver<font style="letter-spacing:0.35pt;"> </font>on<font style="letter-spacing:0.35pt;"> </font>the<font style="letter-spacing:0.3pt;"> </font>promise<font style="letter-spacing:0.35pt;"> </font>of<font style="letter-spacing:0.35pt;"> </font>COMT<font style="letter-spacing:0.3pt;"> </font>inhibition<font style="letter-spacing:0.35pt;"> </font>due<font style="letter-spacing:0.35pt;"> </font>to<font style="letter-spacing:0.3pt;"> </font>safety<font style="letter-spacing:0.35pt;"> </font>issues,<font style="letter-spacing:0.35pt;"> </font>tolerability<font style="letter-spacing:0.3pt;"> </font>issues<font style="letter-spacing:0.35pt;"> </font>and,<font style="letter-spacing:0.35pt;"> </font>frankly,<font style="letter-spacing:0.3pt;"> </font>in<font style="letter-spacing:0.35pt;"> </font>the<font style="letter-spacing:0.35pt;"> </font>convenient<font style="letter-spacing:0.3pt;"> </font>dosing<font style="letter-spacing:0.35pt;"> </font>regimens.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">So<font style="letter-spacing:-0.75pt;"> </font>you<font style="letter-spacing:-0.75pt;"> </font>do<font style="letter-spacing:-0.75pt;"> </font>see<font style="letter-spacing:-0.75pt;"> </font>a<font style="letter-spacing:-0.75pt;"> </font>relatively<font style="letter-spacing:-0.75pt;"> </font>higher<font style="letter-spacing:-0.75pt;"> </font>utilization<font style="letter-spacing:-0.75pt;"> </font>of<font style="letter-spacing:-0.75pt;"> </font>drugs<font style="letter-spacing:-0.75pt;"> </font>from<font style="letter-spacing:-0.75pt;"> </font>other<font style="letter-spacing:-0.75pt;"> </font>adjunctive<font style="letter-spacing:-0.75pt;"> </font>classes,<font style="letter-spacing:-0.75pt;"> </font>including<font style="letter-spacing:-0.75pt;"> </font>dopamine<font style="letter-spacing:-0.75pt;"> </font>agonists<font style="letter-spacing:-0.75pt;"> </font>and<font style="letter-spacing:-0.75pt;"> </font>also<font style="letter-spacing:-0.75pt;"> </font>MAO<font style="letter-spacing:-0.75pt;"> </font>B<font style="letter-spacing:-0.75pt;"> </font>inhibitors.<font style="letter-spacing:-0.75pt;"> </font>Those medications<font style="letter-spacing:-0.4pt;"> </font>also<font style="letter-spacing:-0.4pt;"> </font>have<font style="letter-spacing:-0.35pt;"> </font>their<font style="letter-spacing:-0.4pt;"> </font>limitations,<font style="letter-spacing:-0.4pt;"> </font>especially<font style="letter-spacing:-0.35pt;"> </font>from<font style="letter-spacing:-0.4pt;"> </font>a<font style="letter-spacing:-0.4pt;"> </font>tolerability<font style="letter-spacing:-0.35pt;"> </font>standpoint,<font style="letter-spacing:-0.4pt;"> </font>we<font style="letter-spacing:-0.35pt;"> </font>certainly<font style="letter-spacing:-0.4pt;"> </font>heard<font style="letter-spacing:-0.4pt;"> </font>loud<font style="letter-spacing:-0.35pt;"> </font>and<font style="letter-spacing:-0.4pt;"> </font>clear<font style="letter-spacing:-0.4pt;"> </font>from<font style="letter-spacing:-0.35pt;"> </font>our<font style="letter-spacing:-0.4pt;"> </font>advisers,<font style="letter-spacing:-0.35pt;"> </font>concerns about,<font style="letter-spacing:-0.3pt;"> </font>for<font style="letter-spacing:-0.3pt;"> </font>example,<font style="letter-spacing:-0.3pt;"> </font>impulsivity,<font style="letter-spacing:-0.3pt;"> </font>often<font style="letter-spacing:-0.3pt;"> </font>seen<font style="letter-spacing:-0.3pt;"> </font>in<font style="letter-spacing:-0.3pt;"> </font>patients<font style="letter-spacing:-0.3pt;"> </font>taking<font style="letter-spacing:-0.3pt;"> </font>dopamine<font style="letter-spacing:-0.3pt;"> </font>agonists.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">So<font style="letter-spacing:-0.5pt;"> </font>in<font style="letter-spacing:-0.45pt;"> </font>terms<font style="letter-spacing:-0.45pt;"> </font>of<font style="letter-spacing:-0.45pt;"> </font>our<font style="letter-spacing:-0.45pt;"> </font>approach<font style="letter-spacing:-0.45pt;"> </font>to<font style="letter-spacing:-0.45pt;"> </font>the<font style="letter-spacing:-0.45pt;"> </font>market,<font style="letter-spacing:-0.45pt;"> </font>obviously,<font style="letter-spacing:-0.45pt;"> </font>we<font style="letter-spacing:-0.45pt;"> </font>expect<font style="letter-spacing:-0.45pt;"> </font>that<font style="letter-spacing:-0.45pt;"> </font>patients<font style="letter-spacing:-0.45pt;"> </font>that<font style="letter-spacing:-0.45pt;"> </font>are<font style="letter-spacing:-0.45pt;"> </font>currently<font style="letter-spacing:-0.45pt;"> </font>or<font style="letter-spacing:-0.45pt;"> </font>have<font style="letter-spacing:-0.45pt;"> </font>previously<font style="letter-spacing:-0.45pt;"> </font>been<font style="letter-spacing:-0.45pt;"> </font>treated<font style="letter-spacing:-0.45pt;"> </font>with<font style="letter-spacing:-0.45pt;"> </font>COMT<font style="letter-spacing:-0.45pt;"> </font>inhibitors would be natural candidates for treatment with opicapone. The other thing to keep in mind is that in this particular category, patients don't usually switch from one adjunctive to another. The physicians tend to sort of stack them up sequentially. And so they may go on one adjunctive, they <font style="letter-spacing:-0.15pt;">start </font>to see [winning] results, and then they add a second agent and then potentially a<font style="letter-spacing:-1.3pt;"> </font>third.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">So<font style="letter-spacing:-0.15pt;"> </font>for<font style="letter-spacing:-0.15pt;"> </font>us<font style="letter-spacing:-0.15pt;"> </font>to<font style="letter-spacing:-0.1pt;"> </font>be<font style="letter-spacing:-0.15pt;"> </font>successful<font style="letter-spacing:-0.15pt;"> </font>over<font style="letter-spacing:-0.1pt;"> </font>time,<font style="letter-spacing:-0.15pt;"> </font>we<font style="letter-spacing:-0.15pt;"> </font>expect<font style="letter-spacing:-0.1pt;"> </font>to<font style="letter-spacing:-0.15pt;"> </font>displace<font style="letter-spacing:-0.15pt;"> </font>not<font style="letter-spacing:-0.1pt;"> </font>only<font style="letter-spacing:-0.15pt;"> </font>existing<font style="letter-spacing:-0.15pt;"> </font>COMT<font style="letter-spacing:-0.1pt;"> </font>inhibitors,<font style="letter-spacing:-0.15pt;"> </font>but<font style="letter-spacing:-0.15pt;"> </font>to<font style="letter-spacing:-0.15pt;"> </font>also<font style="letter-spacing:-0.1pt;"> </font>expand<font style="letter-spacing:-0.15pt;"> </font>that<font style="letter-spacing:-0.15pt;"> </font>COMT<font style="letter-spacing:-0.1pt;"> </font>class<font style="letter-spacing:-0.15pt;"> </font>and<font style="letter-spacing:-0.15pt;"> </font>displace medications<font style="letter-spacing:-0.4pt;"> </font>from<font style="letter-spacing:-0.35pt;"> </font>those<font style="letter-spacing:-0.4pt;"> </font>other<font style="letter-spacing:-0.35pt;"> </font>classes<font style="letter-spacing:-0.4pt;"> </font>of<font style="letter-spacing:-0.35pt;"> </font>dopamine<font style="letter-spacing:-0.4pt;"> </font>agonists<font style="letter-spacing:-0.35pt;"> </font>and<font style="letter-spacing:-0.4pt;"> </font>MAO<font style="letter-spacing:-0.35pt;"> </font>Bs.<font style="letter-spacing:-0.4pt;"> </font>Ultimately,<font style="letter-spacing:-0.35pt;"> </font>we<font style="letter-spacing:-0.4pt;"> </font>want<font style="letter-spacing:-0.35pt;"> </font>to<font style="letter-spacing:-0.4pt;"> </font>be<font style="letter-spacing:-0.35pt;"> </font>considered<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.35pt;"> </font>go-to<font style="letter-spacing:-0.4pt;"> </font>adjunctive<font style="letter-spacing:-0.35pt;"> </font>treatment when<font style="letter-spacing:-0.85pt;"> </font>a<font style="letter-spacing:-0.85pt;"> </font>physician<font style="letter-spacing:-0.8pt;"> </font>and<font style="letter-spacing:-0.85pt;"> </font>a<font style="letter-spacing:-0.8pt;"> </font>patient<font style="letter-spacing:-0.85pt;"> </font>are<font style="letter-spacing:-0.8pt;"> </font>having<font style="letter-spacing:-0.85pt;"> </font>a<font style="letter-spacing:-0.8pt;"> </font>conversation<font style="letter-spacing:-0.85pt;"> </font>that<font style="letter-spacing:-0.8pt;"> </font>their<font style="letter-spacing:-0.85pt;"> </font>levodopa<font style="letter-spacing:-0.8pt;"> </font>regimen<font style="letter-spacing:-0.85pt;"> </font>is<font style="letter-spacing:-0.8pt;"> </font>no<font style="letter-spacing:-0.85pt;"> </font>longer<font style="letter-spacing:-0.85pt;"> </font>adequately<font style="letter-spacing:-0.8pt;"> </font>controlling,<font style="letter-spacing:-0.85pt;"> </font>helping<font style="letter-spacing:-0.8pt;"> </font>to<font style="letter-spacing:-0.85pt;"> </font>control<font style="letter-spacing:-0.8pt;"> </font><font style="letter-spacing:-0.15pt;">their</font></p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="gkqtdup4fqpe000002.jpg" title="" alt="" style="width:720px;height:28px;">
<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0.18%;text-indent:0%;color:#FFFFFF;font-size:12pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">FEBRUARY<font style="letter-spacing:-0.5pt;"> </font>04,<font style="letter-spacing:-0.5pt;"> </font>2020<font style="letter-spacing:-0.5pt;"> </font>/<font style="letter-spacing:-0.5pt;"> </font>9:30PM,<font style="letter-spacing:-0.5pt;"> </font>NBIX<font style="letter-spacing:-0.5pt;"> </font>-<font style="letter-spacing:-0.45pt;"> </font>Q4<font style="letter-spacing:-0.5pt;"> </font>2019<font style="letter-spacing:-0.5pt;"> </font>Neurocrine<font style="letter-spacing:-0.5pt;"> </font>Biosciences<font style="letter-spacing:-0.5pt;"> </font>Inc<font style="letter-spacing:-0.5pt;"> </font>Earnings<font style="letter-spacing:-0.45pt;"> </font>Call</p></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU2"></a><font style="font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></font></p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">movements that they're experiencing significant off time that's sort of the moment of truth, and they're making a decision about whether to increase the dosing of levodopa or to add an adjunctive treatment.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Given<font style="letter-spacing:-1pt;"> </font>the<font style="letter-spacing:-0.95pt;"> </font>mechanism<font style="letter-spacing:-1pt;"> </font>of<font style="letter-spacing:-0.95pt;"> </font>action<font style="letter-spacing:-1pt;"> </font>with<font style="letter-spacing:-0.95pt;"> </font>opicapone,<font style="letter-spacing:-1pt;"> </font>it<font style="letter-spacing:-0.95pt;"> </font>makes<font style="letter-spacing:-1pt;"> </font>all<font style="letter-spacing:-0.95pt;"> </font>the<font style="letter-spacing:-1pt;"> </font>sense<font style="letter-spacing:-0.95pt;"> </font>in<font style="letter-spacing:-1pt;"> </font>the<font style="letter-spacing:-0.95pt;"> </font>world<font style="letter-spacing:-1pt;"> </font>of<font style="letter-spacing:-0.95pt;"> </font>having<font style="letter-spacing:-1pt;"> </font>that<font style="letter-spacing:-0.95pt;"> </font>conversation<font style="letter-spacing:-1pt;"> </font>around<font style="letter-spacing:-0.95pt;"> </font>optimizing<font style="letter-spacing:-1pt;"> </font>levodopa<font style="letter-spacing:-0.95pt;"> </font>before you<font style="letter-spacing:-0.55pt;"> </font>start<font style="letter-spacing:-0.5pt;"> </font>to<font style="letter-spacing:-0.5pt;"> </font>escalate<font style="letter-spacing:-0.5pt;"> </font>the<font style="letter-spacing:-0.5pt;"> </font>dosing.<font style="letter-spacing:-0.5pt;"> </font>Or<font style="letter-spacing:-0.5pt;"> </font>before<font style="letter-spacing:-0.5pt;"> </font>you<font style="letter-spacing:-0.5pt;"> </font>use<font style="letter-spacing:-0.5pt;"> </font>drugs<font style="letter-spacing:-0.5pt;"> </font>from<font style="letter-spacing:-0.5pt;"> </font>other<font style="letter-spacing:-0.5pt;"> </font>classes<font style="letter-spacing:-0.5pt;"> </font>that<font style="letter-spacing:-0.5pt;"> </font>don't<font style="letter-spacing:-0.5pt;"> </font>optimize<font style="letter-spacing:-0.5pt;"> </font>the<font style="letter-spacing:-0.5pt;"> </font>levodopa<font style="letter-spacing:-0.5pt;"> </font>treatment.<font style="letter-spacing:-0.5pt;"> </font>So<font style="letter-spacing:-0.5pt;"> </font>we're<font style="letter-spacing:-0.5pt;"> </font>really<font style="letter-spacing:-0.5pt;"> </font>excited about<font style="letter-spacing:-0.4pt;"> </font>the<font style="letter-spacing:-0.4pt;"> </font>opportunity<font style="letter-spacing:-0.4pt;"> </font>here<font style="letter-spacing:-0.4pt;"> </font>to<font style="letter-spacing:-0.4pt;"> </font>make<font style="letter-spacing:-0.4pt;"> </font>a<font style="letter-spacing:-0.4pt;"> </font>difference<font style="letter-spacing:-0.4pt;"> </font>from<font style="letter-spacing:-0.4pt;"> </font>many<font style="letter-spacing:-0.35pt;"> </font>thousands<font style="letter-spacing:-0.4pt;"> </font>of<font style="letter-spacing:-0.4pt;"> </font>patients<font style="letter-spacing:-0.4pt;"> </font>once<font style="letter-spacing:-0.4pt;"> </font>we<font style="letter-spacing:-0.4pt;"> </font>get<font style="letter-spacing:-0.4pt;"> </font>approval<font style="letter-spacing:-0.4pt;"> </font>later<font style="letter-spacing:-0.4pt;"> </font>this<font style="letter-spacing:-0.35pt;"> </font>year.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="53._Operator"></a>Operator</p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">And we have no further questions in queue at this time. So I'd like to return the floor back to Mr. Kevin Gorman.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;"><a name="54._Kevin_C._Gorman"></a>Kevin C. Gorman <font style="font-style:italic;font-weight:normal;">- Neurocrine Biosciences, Inc. - CEO &amp; Director</font></p>
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Thank<font style="letter-spacing:-0.5pt;"> </font>you<font style="letter-spacing:-0.45pt;"> </font>very<font style="letter-spacing:-0.45pt;"> </font>much,<font style="letter-spacing:-0.5pt;"> </font>and<font style="letter-spacing:-0.45pt;"> </font>I<font style="letter-spacing:-0.45pt;"> </font>really<font style="letter-spacing:-0.45pt;"> </font>appreciate<font style="letter-spacing:-0.5pt;"> </font>everyone's<font style="letter-spacing:-0.45pt;"> </font>participation<font style="letter-spacing:-0.45pt;"> </font>in<font style="letter-spacing:-0.5pt;"> </font>the<font style="letter-spacing:-0.45pt;"> </font>call<font style="letter-spacing:-0.45pt;"> </font>today.<font style="letter-spacing:-0.45pt;"> </font>I<font style="letter-spacing:-0.5pt;"> </font>do<font style="letter-spacing:-0.45pt;"> </font>want<font style="letter-spacing:-0.45pt;"> </font>to<font style="letter-spacing:-0.45pt;"> </font>make<font style="letter-spacing:-0.5pt;"> </font>a<font style="letter-spacing:-0.45pt;"> </font>few<font style="letter-spacing:-0.45pt;"> </font>closing<font style="letter-spacing:-0.5pt;"> </font>statements,<font style="letter-spacing:-0.45pt;"> </font>and<font style="letter-spacing:-0.45pt;"> </font>I'll<font style="letter-spacing:-0.45pt;"> </font>start with welcoming our 2 newest board members, Leslie Norwalk and Shalini Sharp. I'm going to use a bit of a sports analogy here in a moment following<font style="letter-spacing:-0.55pt;"> </font>our<font style="letter-spacing:-0.55pt;"> </font>--<font style="letter-spacing:-0.55pt;"> </font>an<font style="letter-spacing:-0.55pt;"> </font>exciting<font style="letter-spacing:-0.55pt;"> </font>Super<font style="letter-spacing:-0.55pt;"> </font>Bowl<font style="letter-spacing:-0.55pt;"> </font>game.<font style="letter-spacing:-0.5pt;"> </font>We<font style="letter-spacing:-0.55pt;"> </font>have<font style="letter-spacing:-0.55pt;"> </font>a<font style="letter-spacing:-0.55pt;"> </font>very<font style="letter-spacing:-0.55pt;"> </font>good<font style="letter-spacing:-0.55pt;"> </font>board<font style="letter-spacing:-0.55pt;"> </font>and<font style="letter-spacing:-0.5pt;"> </font>have<font style="letter-spacing:-0.55pt;"> </font>had<font style="letter-spacing:-0.55pt;"> </font>this<font style="letter-spacing:-0.55pt;"> </font>board<font style="letter-spacing:-0.55pt;"> </font>together<font style="letter-spacing:-0.55pt;"> </font>now<font style="letter-spacing:-0.55pt;"> </font>for<font style="letter-spacing:-0.5pt;"> </font>a<font style="letter-spacing:-0.55pt;"> </font>number<font style="letter-spacing:-0.55pt;"> </font>of<font style="letter-spacing:-0.55pt;"> </font>years.<font style="letter-spacing:-0.55pt;"> </font>We<font style="letter-spacing:-0.55pt;"> </font>have brought<font style="letter-spacing:-0.85pt;"> </font>in<font style="letter-spacing:-0.85pt;"> </font>new<font style="letter-spacing:-0.85pt;"> </font>members<font style="letter-spacing:-0.8pt;"> </font>from<font style="letter-spacing:-0.85pt;"> </font>time<font style="letter-spacing:-0.85pt;"> </font>to<font style="letter-spacing:-0.8pt;"> </font>time.<font style="letter-spacing:-0.85pt;"> </font>And<font style="letter-spacing:-0.85pt;"> </font>each<font style="letter-spacing:-0.8pt;"> </font>time<font style="letter-spacing:-0.85pt;"> </font>that<font style="letter-spacing:-0.85pt;"> </font>we<font style="letter-spacing:-0.8pt;"> </font>go<font style="letter-spacing:-0.85pt;"> </font>out<font style="letter-spacing:-0.85pt;"> </font>looking<font style="letter-spacing:-0.8pt;"> </font>to<font style="letter-spacing:-0.85pt;"> </font>expand<font style="letter-spacing:-0.85pt;"> </font>the<font style="letter-spacing:-0.8pt;"> </font>board,<font style="letter-spacing:-0.85pt;"> </font>generally,<font style="letter-spacing:-0.85pt;"> </font>we're<font style="letter-spacing:-0.8pt;"> </font>not<font style="letter-spacing:-0.85pt;"> </font>looking<font style="letter-spacing:-0.85pt;"> </font>for<font style="letter-spacing:-0.8pt;"> </font>a<font style="letter-spacing:-0.85pt;"> </font>position player.<font style="letter-spacing:-1pt;"> </font>What<font style="letter-spacing:-1pt;"> </font>we're<font style="letter-spacing:-1pt;"> </font>looking<font style="letter-spacing:-0.95pt;"> </font>for<font style="letter-spacing:-1pt;"> </font>is<font style="letter-spacing:-1pt;"> </font>the<font style="letter-spacing:-0.95pt;"> </font>best<font style="letter-spacing:-1pt;"> </font>athlete<font style="letter-spacing:-1pt;"> </font>that<font style="letter-spacing:-1pt;"> </font>is<font style="letter-spacing:-0.95pt;"> </font>out<font style="letter-spacing:-1pt;"> </font>there.<font style="letter-spacing:-1pt;"> </font>And<font style="letter-spacing:-0.95pt;"> </font>that<font style="letter-spacing:-1pt;"> </font>has<font style="letter-spacing:-1pt;"> </font>worked<font style="letter-spacing:-0.95pt;"> </font>well<font style="letter-spacing:-1pt;"> </font>for<font style="letter-spacing:-1pt;"> </font>us<font style="letter-spacing:-1pt;"> </font>over<font style="letter-spacing:-0.95pt;"> </font>the<font style="letter-spacing:-1pt;"> </font>years<font style="letter-spacing:-1pt;"> </font>and<font style="letter-spacing:-0.95pt;"> </font>welcoming<font style="letter-spacing:-1pt;"> </font>Shalini<font style="letter-spacing:-1pt;"> </font>and<font style="letter-spacing:-0.95pt;"> </font>Leslie. There,<font style="letter-spacing:-0.95pt;"> </font>we<font style="letter-spacing:-0.95pt;"> </font>have<font style="letter-spacing:-0.9pt;"> </font>2<font style="letter-spacing:-0.95pt;"> </font>very<font style="letter-spacing:-0.9pt;"> </font>great<font style="letter-spacing:-0.95pt;"> </font>athletes<font style="letter-spacing:-0.95pt;"> </font>that<font style="letter-spacing:-0.9pt;"> </font>we're<font style="letter-spacing:-0.95pt;"> </font>bringing<font style="letter-spacing:-0.9pt;"> </font>to<font style="letter-spacing:-0.95pt;"> </font>this<font style="letter-spacing:-0.95pt;"> </font>board.<font style="letter-spacing:-0.9pt;"> </font>And<font style="letter-spacing:-0.95pt;"> </font>our<font style="letter-spacing:-0.9pt;"> </font>board<font style="letter-spacing:-0.95pt;"> </font>certainly<font style="letter-spacing:-0.9pt;"> </font>deserves<font style="letter-spacing:-0.95pt;"> </font>a<font style="letter-spacing:-0.95pt;"> </font>lot<font style="letter-spacing:-0.9pt;"> </font>of<font style="letter-spacing:-0.95pt;"> </font>the<font style="letter-spacing:-0.9pt;"> </font>credit<font style="letter-spacing:-0.95pt;"> </font>or<font style="letter-spacing:-0.95pt;"> </font>the<font style="letter-spacing:-0.9pt;"> </font>success<font style="letter-spacing:-0.95pt;"> </font>that<font style="letter-spacing:-0.9pt;"> </font><font style="letter-spacing:-0.2pt;">we've </font>had over the<font style="letter-spacing:-0.8pt;"> </font>years.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">What<font style="letter-spacing:-1.05pt;"> </font>I<font style="letter-spacing:-1.05pt;"> </font>would<font style="letter-spacing:-1pt;"> </font>also<font style="letter-spacing:-1.05pt;"> </font>like<font style="letter-spacing:-1pt;"> </font>to<font style="letter-spacing:-1.05pt;"> </font>commend<font style="letter-spacing:-1pt;"> </font>here<font style="letter-spacing:-1.05pt;"> </font>is<font style="letter-spacing:-1pt;"> </font>that<font style="letter-spacing:-1.05pt;"> </font>our<font style="letter-spacing:-1pt;"> </font>commercial<font style="letter-spacing:-1.05pt;"> </font>teams<font style="letter-spacing:-1.05pt;"> </font>and<font style="letter-spacing:-1pt;"> </font>our<font style="letter-spacing:-1.05pt;"> </font>medical<font style="letter-spacing:-1pt;"> </font>affairs<font style="letter-spacing:-1.05pt;"> </font>organizations<font style="letter-spacing:-1pt;"> </font>because<font style="letter-spacing:-1.05pt;"> </font>they<font style="letter-spacing:-1pt;"> </font>also<font style="letter-spacing:-1.05pt;"> </font>have<font style="letter-spacing:-1pt;"> </font>a<font style="letter-spacing:-1.05pt;"> </font>direct<font style="letter-spacing:-1.05pt;"> </font>impact on<font style="letter-spacing:-1.1pt;"> </font>the<font style="letter-spacing:-1.05pt;"> </font>absolute<font style="letter-spacing:-1.1pt;"> </font>stellar<font style="letter-spacing:-1.05pt;"> </font>results<font style="letter-spacing:-1.05pt;"> </font>that<font style="letter-spacing:-1.1pt;"> </font>we've<font style="letter-spacing:-1.05pt;"> </font>had<font style="letter-spacing:-1.05pt;"> </font>in<font style="letter-spacing:-1.1pt;"> </font>the<font style="letter-spacing:-1.05pt;"> </font>fourth<font style="letter-spacing:-1.05pt;"> </font>quarter<font style="letter-spacing:-1.1pt;"> </font>and<font style="letter-spacing:-1.05pt;"> </font>also<font style="letter-spacing:-1.05pt;"> </font>for<font style="letter-spacing:-1.1pt;"> </font>the<font style="letter-spacing:-1.05pt;"> </font>year<font style="letter-spacing:-1.1pt;"> </font>of<font style="letter-spacing:-1.05pt;"> </font>2019,<font style="letter-spacing:-1.05pt;"> </font>with<font style="letter-spacing:-1.1pt;"> </font>INGREZZA,<font style="letter-spacing:-1.05pt;"> </font>and<font style="letter-spacing:-1.05pt;"> </font>they<font style="letter-spacing:-1.1pt;"> </font>are<font style="letter-spacing:-1.05pt;"> </font>out<font style="letter-spacing:-1.05pt;"> </font>there<font style="letter-spacing:-1.1pt;"> </font>on<font style="letter-spacing:-1.05pt;"> </font>the<font style="letter-spacing:-1.05pt;"> </font>front lines,<font style="letter-spacing:-0.3pt;"> </font>advocating<font style="letter-spacing:-0.25pt;"> </font>for<font style="letter-spacing:-0.3pt;"> </font>patients<font style="letter-spacing:-0.25pt;"> </font>each<font style="letter-spacing:-0.3pt;"> </font>and<font style="letter-spacing:-0.25pt;"> </font>every<font style="letter-spacing:-0.3pt;"> </font>day.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Now<font style="letter-spacing:-0.75pt;"> </font>finally,<font style="letter-spacing:-0.8pt;"> </font>the<font style="letter-spacing:-0.75pt;"> </font>ultimate<font style="letter-spacing:-0.75pt;"> </font>goal<font style="letter-spacing:-0.75pt;"> </font>for<font style="letter-spacing:-0.75pt;"> </font>all<font style="letter-spacing:-0.75pt;"> </font>of<font style="letter-spacing:-0.75pt;"> </font>us<font style="letter-spacing:-0.75pt;"> </font>in<font style="letter-spacing:-0.75pt;"> </font>this<font style="letter-spacing:-0.75pt;"> </font>industry<font style="letter-spacing:-0.75pt;"> </font>is<font style="letter-spacing:-0.75pt;"> </font>to<font style="letter-spacing:-0.75pt;"> </font>discover,<font style="letter-spacing:-0.75pt;"> </font>develop<font style="letter-spacing:-0.75pt;"> </font>and<font style="letter-spacing:-0.75pt;"> </font>bring<font style="letter-spacing:-0.75pt;"> </font>life-changing<font style="letter-spacing:-0.75pt;"> </font>medicines<font style="letter-spacing:-0.75pt;"> </font>to<font style="letter-spacing:-0.75pt;"> </font>patients.<font style="letter-spacing:-0.75pt;"> </font>And<font style="letter-spacing:-0.75pt;"> </font>at<font style="letter-spacing:-0.75pt;"> </font>Neurocrine, we<font style="letter-spacing:-0.45pt;"> </font>are<font style="letter-spacing:-0.4pt;"> </font>truly<font style="letter-spacing:-0.45pt;"> </font>fortunate,<font style="letter-spacing:-0.4pt;"> </font>and<font style="letter-spacing:-0.45pt;"> </font>we<font style="letter-spacing:-0.4pt;"> </font>know<font style="letter-spacing:-0.45pt;"> </font>what<font style="letter-spacing:-0.4pt;"> </font>to<font style="letter-spacing:-0.45pt;"> </font>have,<font style="letter-spacing:-0.4pt;"> </font>INGREZZA,<font style="letter-spacing:-0.45pt;"> </font>ORILISSA,<font style="letter-spacing:-0.4pt;"> </font>and<font style="letter-spacing:-0.45pt;"> </font>potentially<font style="letter-spacing:-0.4pt;"> </font>soon,<font style="letter-spacing:-0.4pt;"> </font>opicapone<font style="letter-spacing:-0.45pt;"> </font>in<font style="letter-spacing:-0.4pt;"> </font>patients'<font style="letter-spacing:-0.45pt;"> </font>hands.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0.91%;margin-right:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="55._Operator"></a>Together<font style="letter-spacing:-1.3pt;"> </font>with<font style="letter-spacing:-1.25pt;"> </font>our<font style="letter-spacing:-1.25pt;"> </font>partners,<font style="letter-spacing:-1.25pt;"> </font>Xenon,<font style="letter-spacing:-1.25pt;"> </font>Voyager<font style="letter-spacing:-1.25pt;"> </font>and<font style="letter-spacing:-1.25pt;"> </font>Idorsia,<font style="letter-spacing:-1.25pt;"> </font>we<font style="letter-spacing:-1.25pt;"> </font>are<font style="letter-spacing:-1.25pt;"> </font>driven<font style="letter-spacing:-1.25pt;"> </font>to<font style="letter-spacing:-1.25pt;"> </font>bring<font style="letter-spacing:-1.25pt;"> </font>precision<font style="letter-spacing:-1.25pt;"> </font>therapies<font style="letter-spacing:-1.25pt;"> </font>targeting<font style="letter-spacing:-1.25pt;"> </font>what<font style="letter-spacing:-1.25pt;"> </font>have<font style="letter-spacing:-1.25pt;"> </font>been<font style="letter-spacing:-1.3pt;"> </font>previously<font style="letter-spacing:-1.25pt;"> </font>intractable and<font style="letter-spacing:-1.55pt;"> </font>devastating<font style="letter-spacing:-1.5pt;"> </font>diseases,<font style="letter-spacing:-1.5pt;"> </font>and<font style="letter-spacing:-1.5pt;"> </font>now<font style="letter-spacing:-1.5pt;"> </font>potentially<font style="letter-spacing:-1.5pt;"> </font>curative<font style="letter-spacing:-1.5pt;"> </font>therapies<font style="letter-spacing:-1.5pt;"> </font>to<font style="letter-spacing:-1.5pt;"> </font>patients,<font style="letter-spacing:-1.5pt;"> </font>who<font style="letter-spacing:-1.5pt;"> </font>need<font style="letter-spacing:-1.5pt;"> </font>them<font style="letter-spacing:-1.5pt;"> </font>right<font style="letter-spacing:-1.5pt;"> </font>now.<font style="letter-spacing:-1.5pt;"> </font>And<font style="letter-spacing:-1.5pt;"> </font>that's<font style="letter-spacing:-1.5pt;"> </font>what<font style="letter-spacing:-1.5pt;"> </font>we<font style="letter-spacing:-1.5pt;"> </font>look<font style="letter-spacing:-1.5pt;"> </font>forward<font style="letter-spacing:-1.5pt;"> </font>to<font style="letter-spacing:-1.5pt;"> </font>speaking to<font style="letter-spacing:-0.3pt;"> </font>you<font style="letter-spacing:-0.25pt;"> </font>in<font style="letter-spacing:-0.3pt;"> </font>the<font style="letter-spacing:-0.25pt;"> </font>future<font style="letter-spacing:-0.3pt;"> </font>about.<font style="letter-spacing:-0.25pt;"> </font>Thank<font style="letter-spacing:-0.3pt;"> </font>you<font style="letter-spacing:-0.25pt;"> </font>very<font style="letter-spacing:-0.25pt;"> </font>much.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:3.5pt;">&nbsp;</p>
<p style="margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Operator</p>
<p style="margin-top:6pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="Disclaimer"></a><a name="Disclaimer"></a>Thank you. This will conclude today's program. Thank you, again, for your participation. You may now disconnect, and have a wonderful day.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:9pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:7pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">
<p style="margin-top:4pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-weight:bold;font-size:7pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">DISCLAIMER </p>
<p style="text-align:justify;margin-top:5pt;margin-bottom:0pt;margin-left:0.91%;text-indent:0%;font-size:6pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Thomson<font style="letter-spacing:-0.5pt;"> </font>Reuters<font style="letter-spacing:-0.5pt;"> </font>reserves<font style="letter-spacing:-0.5pt;"> </font>the<font style="letter-spacing:-0.45pt;"> </font>right<font style="letter-spacing:-0.5pt;"> </font>to<font style="letter-spacing:-0.5pt;"> </font>make<font style="letter-spacing:-0.45pt;"> </font>changes<font style="letter-spacing:-0.5pt;"> </font>to<font style="letter-spacing:-0.5pt;"> </font>documents,<font style="letter-spacing:-0.45pt;"> </font>content,<font style="letter-spacing:-0.5pt;"> </font>or<font style="letter-spacing:-0.5pt;"> </font>other<font style="letter-spacing:-0.45pt;"> </font>information<font style="letter-spacing:-0.5pt;"> </font>on<font style="letter-spacing:-0.5pt;"> </font>this<font style="letter-spacing:-0.45pt;"> </font>web<font style="letter-spacing:-0.5pt;"> </font>site<font style="letter-spacing:-0.5pt;"> </font>without<font style="letter-spacing:-0.45pt;"> </font>obligation<font style="letter-spacing:-0.5pt;"> </font>to<font style="letter-spacing:-0.5pt;"> </font>notify<font style="letter-spacing:-0.45pt;"> </font>any<font style="letter-spacing:-0.5pt;"> </font>person<font style="letter-spacing:-0.5pt;"> </font>of<font style="letter-spacing:-0.45pt;"> </font>such<font style="letter-spacing:-0.5pt;"> </font>changes.</p>
<p style="text-align:justify;margin-top:2pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.73%;text-indent:0%;font-size:6pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In<font style="letter-spacing:-0.6pt;"> </font>the<font style="letter-spacing:-0.6pt;"> </font>conference<font style="letter-spacing:-0.6pt;"> </font>calls<font style="letter-spacing:-0.6pt;"> </font>upon<font style="letter-spacing:-0.6pt;"> </font>which<font style="letter-spacing:-0.6pt;"> </font>Event<font style="letter-spacing:-0.6pt;"> </font>Transcripts<font style="letter-spacing:-0.55pt;"> </font>are<font style="letter-spacing:-0.6pt;"> </font>based,<font style="letter-spacing:-0.6pt;"> </font>companies<font style="letter-spacing:-0.6pt;"> </font>may<font style="letter-spacing:-0.6pt;"> </font>make<font style="letter-spacing:-0.6pt;"> </font>projections<font style="letter-spacing:-0.6pt;"> </font>or<font style="letter-spacing:-0.6pt;"> </font>other<font style="letter-spacing:-0.55pt;"> </font>forward-looking<font style="letter-spacing:-0.6pt;"> </font>statements<font style="letter-spacing:-0.6pt;"> </font>regarding<font style="letter-spacing:-0.6pt;"> </font>a<font style="letter-spacing:-0.6pt;"> </font>variety<font style="letter-spacing:-0.6pt;"> </font>of<font style="letter-spacing:-0.6pt;"> </font>items.<font style="letter-spacing:-0.6pt;"> </font>Such<font style="letter-spacing:-0.55pt;"> </font>forward-looking<font style="letter-spacing:-0.6pt;"> </font>statements<font style="letter-spacing:-0.6pt;"> </font>are<font style="letter-spacing:-0.6pt;"> </font>based<font style="letter-spacing:-0.6pt;"> </font><font style="letter-spacing:-0.15pt;">upon </font>current<font style="letter-spacing:-0.4pt;"> </font>expectations<font style="letter-spacing:-0.4pt;"> </font>and<font style="letter-spacing:-0.4pt;"> </font>involve<font style="letter-spacing:-0.35pt;"> </font>risks<font style="letter-spacing:-0.4pt;"> </font>and<font style="letter-spacing:-0.4pt;"> </font>uncertainties.<font style="letter-spacing:-0.4pt;"> </font>Actual<font style="letter-spacing:-0.35pt;"> </font>results<font style="letter-spacing:-0.4pt;"> </font>may<font style="letter-spacing:-0.4pt;"> </font>differ<font style="letter-spacing:-0.4pt;"> </font>materially<font style="letter-spacing:-0.35pt;"> </font>from<font style="letter-spacing:-0.4pt;"> </font>those<font style="letter-spacing:-0.4pt;"> </font>stated<font style="letter-spacing:-0.35pt;"> </font>in<font style="letter-spacing:-0.4pt;"> </font>any<font style="letter-spacing:-0.4pt;"> </font>forward-looking<font style="letter-spacing:-0.4pt;"> </font>statement<font style="letter-spacing:-0.35pt;"> </font>based<font style="letter-spacing:-0.4pt;"> </font>on<font style="letter-spacing:-0.4pt;"> </font>a<font style="letter-spacing:-0.4pt;"> </font>number<font style="letter-spacing:-0.35pt;"> </font>of<font style="letter-spacing:-0.4pt;"> </font>important<font style="letter-spacing:-0.4pt;"> </font>factors<font style="letter-spacing:-0.4pt;"> </font>and<font style="letter-spacing:-0.35pt;"> </font>risks,<font style="letter-spacing:-0.4pt;"> </font>which<font style="letter-spacing:-0.4pt;"> </font>are<font style="letter-spacing:-0.35pt;"> </font><font style="letter-spacing:-0.2pt;">more </font>specifically identified in the companies' most recent SEC filings. Although the companies may indicate and believe that the assumptions underlying the forward-looking statements are reasonable, any of <font style="letter-spacing:-0.2pt;">the </font>assumptions<font style="letter-spacing:-0.3pt;"> </font>could<font style="letter-spacing:-0.25pt;"> </font>prove<font style="letter-spacing:-0.3pt;"> </font>inaccurate<font style="letter-spacing:-0.25pt;"> </font>or<font style="letter-spacing:-0.25pt;"> </font>incorrect<font style="letter-spacing:-0.3pt;"> </font>and,<font style="letter-spacing:-0.25pt;"> </font>therefore,<font style="letter-spacing:-0.25pt;"> </font>there<font style="letter-spacing:-0.3pt;"> </font>can<font style="letter-spacing:-0.25pt;"> </font>be<font style="letter-spacing:-0.25pt;"> </font>no<font style="letter-spacing:-0.3pt;"> </font>assurance<font style="letter-spacing:-0.25pt;"> </font>that<font style="letter-spacing:-0.25pt;"> </font>the<font style="letter-spacing:-0.3pt;"> </font>results<font style="letter-spacing:-0.25pt;"> </font>contemplated<font style="letter-spacing:-0.25pt;"> </font>in<font style="letter-spacing:-0.3pt;"> </font>the<font style="letter-spacing:-0.25pt;"> </font>forward-looking<font style="letter-spacing:-0.25pt;"> </font>statements<font style="letter-spacing:-0.3pt;"> </font>will<font style="letter-spacing:-0.25pt;"> </font>be<font style="letter-spacing:-0.3pt;"> </font>realized.</p>
<p style="text-align:justify;margin-top:3pt;margin-bottom:0pt;margin-left:0.91%;margin-right:0.73%;text-indent:0%;font-size:6pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">THE<font style="letter-spacing:-0.25pt;"> </font>INFORMATION<font style="letter-spacing:-0.25pt;"> </font>CONTAINED<font style="letter-spacing:-0.25pt;"> </font>IN<font style="letter-spacing:-0.25pt;"> </font>EVENT<font style="letter-spacing:-0.25pt;"> </font>TRANSCRIPTS<font style="letter-spacing:-0.25pt;"> </font>IS<font style="letter-spacing:-0.25pt;"> </font>A<font style="letter-spacing:-0.25pt;"> </font>TEXTUAL<font style="letter-spacing:-0.25pt;"> </font>REPRESENTATION<font style="letter-spacing:-0.25pt;"> </font>OF<font style="letter-spacing:-0.25pt;"> </font>THE<font style="letter-spacing:-0.25pt;"> </font>APPLICABLE<font style="letter-spacing:-0.25pt;"> </font>COMPANY'S<font style="letter-spacing:-0.25pt;"> </font>CONFERENCE<font style="letter-spacing:-0.25pt;"> </font>CALL<font style="letter-spacing:-0.25pt;"> </font>AND<font style="letter-spacing:-0.25pt;"> </font>WHILE<font style="letter-spacing:-0.25pt;"> </font>EFFORTS<font style="letter-spacing:-0.25pt;"> </font>ARE<font style="letter-spacing:-0.25pt;"> </font>MADE<font style="letter-spacing:-0.25pt;"> </font>TO<font style="letter-spacing:-0.25pt;"> </font>PROVIDE<font style="letter-spacing:-0.25pt;"> </font>AN<font style="letter-spacing:-0.25pt;"> </font>ACCURATE<font style="letter-spacing:-0.25pt;"> </font>TRANSCRIPTION, THERE<font style="letter-spacing:-0.8pt;"> </font>MAY<font style="letter-spacing:-0.75pt;"> </font>BE<font style="letter-spacing:-0.8pt;"> </font>MATERIAL<font style="letter-spacing:-0.75pt;"> </font>ERRORS,<font style="letter-spacing:-0.8pt;"> </font>OMISSIONS,<font style="letter-spacing:-0.75pt;"> </font>OR<font style="letter-spacing:-0.8pt;"> </font>INACCURACIES<font style="letter-spacing:-0.75pt;"> </font>IN<font style="letter-spacing:-0.8pt;"> </font>THE<font style="letter-spacing:-0.75pt;"> </font>REPORTING<font style="letter-spacing:-0.8pt;"> </font>OF<font style="letter-spacing:-0.75pt;"> </font>THE<font style="letter-spacing:-0.8pt;"> </font>SUBSTANCE<font style="letter-spacing:-0.75pt;"> </font>OF<font style="letter-spacing:-0.8pt;"> </font>THE<font style="letter-spacing:-0.75pt;"> </font>CONFERENCE<font style="letter-spacing:-0.75pt;"> </font>CALLS.<font style="letter-spacing:-0.8pt;"> </font>IN<font style="letter-spacing:-0.75pt;"> </font>NO<font style="letter-spacing:-0.8pt;"> </font>WAY<font style="letter-spacing:-0.75pt;"> </font>DOES<font style="letter-spacing:-0.8pt;"> </font>THOMSON<font style="letter-spacing:-0.75pt;"> </font>REUTERS<font style="letter-spacing:-0.8pt;"> </font>OR<font style="letter-spacing:-0.75pt;"> </font>THE<font style="letter-spacing:-0.8pt;"> </font>APPLICABLE<font style="letter-spacing:-0.75pt;"> </font>COMPANY<font style="letter-spacing:-0.8pt;"> </font>ASSUME ANY<font style="letter-spacing:-1.05pt;"> </font>RESPONSIBILITY<font style="letter-spacing:-1pt;"> </font>FOR<font style="letter-spacing:-1pt;"> </font>ANY<font style="letter-spacing:-1.05pt;"> </font>INVESTMENT<font style="letter-spacing:-1pt;"> </font>OR<font style="letter-spacing:-1pt;"> </font>OTHER<font style="letter-spacing:-1pt;"> </font>DECISIONS<font style="letter-spacing:-1.05pt;"> </font>MADE<font style="letter-spacing:-1pt;"> </font>BASED<font style="letter-spacing:-1pt;"> </font>UPON<font style="letter-spacing:-1.05pt;"> </font>THE<font style="letter-spacing:-1pt;"> </font>INFORMATION<font style="letter-spacing:-1pt;"> </font>PROVIDED<font style="letter-spacing:-1pt;"> </font>ON<font style="letter-spacing:-1.05pt;"> </font>THIS<font style="letter-spacing:-1pt;"> </font>WEB<font style="letter-spacing:-1pt;"> </font>SITE<font style="letter-spacing:-1.05pt;"> </font>OR<font style="letter-spacing:-1pt;"> </font>IN<font style="letter-spacing:-1pt;"> </font>ANY<font style="letter-spacing:-1pt;"> </font>EVENT<font style="letter-spacing:-1.05pt;"> </font>TRANSCRIPT.<font style="letter-spacing:-1pt;"> </font>USERS<font style="letter-spacing:-1pt;"> </font>ARE<font style="letter-spacing:-1.05pt;"> </font>ADVISED<font style="letter-spacing:-1pt;"> </font>TO<font style="letter-spacing:-1pt;"> </font>REVIEW<font style="letter-spacing:-1pt;"> </font>THE<font style="letter-spacing:-1.05pt;"> </font>APPLICABLE COMPANY'S<font style="letter-spacing:-0.25pt;"> </font>CONFERENCE<font style="letter-spacing:-0.2pt;"> </font>CALL<font style="letter-spacing:-0.2pt;"> </font>ITSELF<font style="letter-spacing:-0.2pt;"> </font>AND<font style="letter-spacing:-0.2pt;"> </font>THE<font style="letter-spacing:-0.25pt;"> </font>APPLICABLE<font style="letter-spacing:-0.2pt;"> </font>COMPANY'S<font style="letter-spacing:-0.2pt;"> </font>SEC<font style="letter-spacing:-0.2pt;"> </font>FILINGS<font style="letter-spacing:-0.2pt;"> </font>BEFORE<font 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<DESCRIPTION>GRAPHIC
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end
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<DOCUMENT>
<TYPE>GRAPHIC
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<FILENAME>gkqtdup4fqpe000016.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
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M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
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end
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<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>11
<FILENAME>nbix-20200204.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
<!-- DFIN ActiveDisclosure(SM) XBRL Schema Document - http://www.dfinsolutions.com/ -->
<!-- Creation Date      : 2020-02-05T05:05:20.6666439+00:00 -->
<!-- Version            : 5.0.1.321 -->
<!-- Package ID         : 42eb9d084d4946f69309acf366c6b41a -->
<!-- Copyright (c) 2020 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
<xsd:schema xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:sic="http://xbrl.sec.gov/sic/2011-01-31" xmlns:stpr="http://xbrl.sec.gov/stpr/2018-01-31" xmlns:naics="http://xbrl.sec.gov/naics/2017-01-31" xmlns:nbix="http://www.neurocrine.com/20200204" xmlns:invest="http://xbrl.sec.gov/invest/2013-01-31" xmlns:srt-types="http://fasb.org/srt-types/2019-01-31" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:srt="http://fasb.org/srt/2019-01-31" xmlns:us-gaap="http://fasb.org/us-gaap/2019-01-31" xmlns:dei="http://xbrl.sec.gov/dei/2019-01-31" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:country="http://xbrl.sec.gov/country/2017-01-31" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:currency="http://xbrl.sec.gov/currency/2019-01-31" xmlns:us-types="http://fasb.org/us-types/2019-01-31" xmlns:exch="http://xbrl.sec.gov/exch/2019-01-31" attributeFormDefault="unqualified" elementFormDefault="qualified" targetNamespace="http://www.neurocrine.com/20200204" xmlns:xsd="http://www.w3.org/2001/XMLSchema">
  <xsd:import schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" namespace="http://www.xbrl.org/2003/instance" />
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  <xsd:import schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd" namespace="http://xbrl.org/2005/xbrldt" />
  <xsd:import schemaLocation="https://xbrl.sec.gov/country/2017/country-2017-01-31.xsd" namespace="http://xbrl.sec.gov/country/2017-01-31" />
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  <xsd:import schemaLocation="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd" namespace="http://www.xbrl.org/2009/role/net" />
  <xsd:import schemaLocation="https://xbrl.sec.gov/naics/2017/naics-2017-01-31.xsd" namespace="http://xbrl.sec.gov/naics/2017-01-31" />
  <xsd:import schemaLocation="https://xbrl.sec.gov/sic/2011/sic-2011-01-31.xsd" namespace="http://xbrl.sec.gov/sic/2011-01-31" />
  <xsd:import schemaLocation="http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd" namespace="http://fasb.org/srt/2019-01-31" />
  <xsd:import schemaLocation="http://xbrl.fasb.org/srt/2019/elts/srt-roles-2019-01-31.xsd" namespace="http://fasb.org/srt-roles/2019-01-31" />
  <xsd:import schemaLocation="http://xbrl.fasb.org/srt/2019/elts/srt-types-2019-01-31.xsd" namespace="http://fasb.org/srt-types/2019-01-31" />
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      <link:linkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="nbix-20200204_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:title="Label Links, all" xlink:type="simple" />
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        <link:usedOn>link:definitionLink</link:usedOn>
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</TEXT>
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<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>12
<FILENAME>nbix-20200204_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
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<!-- Version            : 5.0.1.321 -->
<!-- Package ID         : 42eb9d084d4946f69309acf366c6b41a -->
<!-- Copyright (c) 2020 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
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  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" xlink:type="simple" />
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  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
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    <link:label xml:lang="en-US" xlink:label="dei_DocumentType_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Type</link:label>
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    <link:label xml:lang="en-US" xlink:label="dei_DocumentPeriodEndDate_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Period End Date</link:label>
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    <link:label xml:lang="en-US" xlink:label="dei_EntityRegistrantName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Registrant Name</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityRegistrantName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Registrant Name</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityCentralIndexKey_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Central Index Key</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:type="locator" xlink:label="dei_EntityEmergingGrowthCompany" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Emerging Growth Company</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Emerging Growth Company</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityFileNumber" xlink:type="locator" xlink:label="dei_EntityFileNumber" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityFileNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity File Number</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityFileNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity File Number</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityIncorporationStateCountryCode" xlink:type="locator" xlink:label="dei_EntityIncorporationStateCountryCode" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Incorporation, State or Country Code</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Incorporation State Country Code</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityTaxIdentificationNumber" xlink:type="locator" xlink:label="dei_EntityTaxIdentificationNumber" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Tax Identification Number</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityTaxIdentificationNumber" xlink:to="dei_EntityTaxIdentificationNumber_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Tax Identification Number</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressAddressLine1" xlink:type="locator" xlink:label="dei_EntityAddressAddressLine1" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressAddressLine1_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, Address Line One</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressAddressLine1_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address Address Line1</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressCityOrTown" xlink:type="locator" xlink:label="dei_EntityAddressCityOrTown" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressCityOrTown_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, City or Town</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressCityOrTown_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address City Or Town</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressStateOrProvince" xlink:type="locator" xlink:label="dei_EntityAddressStateOrProvince" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressStateOrProvince_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, State or Province</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressStateOrProvince_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address State Or Province</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressPostalZipCode" xlink:type="locator" xlink:label="dei_EntityAddressPostalZipCode" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressPostalZipCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, Postal Zip Code</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressPostalZipCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address Postal Zip Code</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CityAreaCode" xlink:type="locator" xlink:label="dei_CityAreaCode" />
    <link:label xml:lang="en-US" xlink:label="dei_CityAreaCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">City Area Code</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_CityAreaCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">City Area Code</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LocalPhoneNumber" xlink:type="locator" xlink:label="dei_LocalPhoneNumber" />
    <link:label xml:lang="en-US" xlink:label="dei_LocalPhoneNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Local Phone Number</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_LocalPhoneNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Local Phone Number</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_WrittenCommunications" xlink:type="locator" xlink:label="dei_WrittenCommunications" />
    <link:label xml:lang="en-US" xlink:label="dei_WrittenCommunications_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Written Communications</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_WrittenCommunications" xlink:to="dei_WrittenCommunications_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_WrittenCommunications_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Written Communications</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_SolicitingMaterial" xlink:type="locator" xlink:label="dei_SolicitingMaterial" />
    <link:label xml:lang="en-US" xlink:label="dei_SolicitingMaterial_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Soliciting Material</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SolicitingMaterial" xlink:to="dei_SolicitingMaterial_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_SolicitingMaterial_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Soliciting Material</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_PreCommencementTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementTenderOffer" />
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pre-commencement Tender Offer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementTenderOffer" xlink:to="dei_PreCommencementTenderOffer_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Pre Commencement Tender Offer</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_PreCommencementIssuerTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementIssuerTenderOffer" />
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementIssuerTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pre-commencement Issuer Tender Offer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementIssuerTenderOffer" xlink:to="dei_PreCommencementIssuerTenderOffer_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementIssuerTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Pre Commencement Issuer Tender Offer</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_Security12bTitle" xlink:type="locator" xlink:label="dei_Security12bTitle" />
    <link:label xml:lang="en-US" xlink:label="dei_Security12bTitle_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Title of each class</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_Security12bTitle_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Security12b Title</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_TradingSymbol" xlink:type="locator" xlink:label="dei_TradingSymbol" />
    <link:label xml:lang="en-US" xlink:label="dei_TradingSymbol_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trading Symbol</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_TradingSymbol_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Trading Symbol</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_SecurityExchangeName" xlink:type="locator" xlink:label="dei_SecurityExchangeName" />
    <link:label xml:lang="en-US" xlink:label="dei_SecurityExchangeName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Name of each exchange on which registered</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_SecurityExchangeName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Security Exchange Name</link:label>
  </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>13
<FILENAME>nbix-20200204_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
<!-- DFIN ActiveDisclosure(SM) XBRL Linkbase Document - http://www.dfinsolutions.com/ -->
<!-- Creation Date      : 2020-02-05T05:05:20.6666439+00:00 -->
<!-- Version            : 5.0.1.321 -->
<!-- Package ID         : 42eb9d084d4946f69309acf366c6b41a -->
<!-- Copyright (c) 2020 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://www.neurocrine.com/20200204/role/TemplateLink" xlink:href="nbix-20200204.xsd#TemplateLink" xlink:type="simple" />
  <link:roleRef roleURI="http://www.neurocrine.com/20200204/taxonomy/role/DocumentDocumentAndEntityInformation" xlink:href="nbix-20200204.xsd#Role_DocumentDocumentAndEntityInformation" xlink:type="simple" />
  <link:presentationLink xlink:type="extended" xlink:role="http://www.neurocrine.com/20200204/taxonomy/role/DocumentDocumentAndEntityInformation">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_SecurityExchangeName" xlink:type="locator" xlink:label="dei_SecurityExchangeName" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_TradingSymbol" xlink:type="locator" xlink:label="dei_TradingSymbol" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_Security12bTitle" xlink:type="locator" xlink:label="dei_Security12bTitle" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_PreCommencementIssuerTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementIssuerTenderOffer" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_PreCommencementTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementTenderOffer" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_SolicitingMaterial" xlink:type="locator" xlink:label="dei_SolicitingMaterial" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_WrittenCommunications" xlink:type="locator" xlink:label="dei_WrittenCommunications" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LocalPhoneNumber" xlink:type="locator" xlink:label="dei_LocalPhoneNumber" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CityAreaCode" xlink:type="locator" xlink:label="dei_CityAreaCode" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressPostalZipCode" xlink:type="locator" xlink:label="dei_EntityAddressPostalZipCode" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressStateOrProvince" xlink:type="locator" xlink:label="dei_EntityAddressStateOrProvince" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressCityOrTown" xlink:type="locator" xlink:label="dei_EntityAddressCityOrTown" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressAddressLine1" xlink:type="locator" xlink:label="dei_EntityAddressAddressLine1" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityTaxIdentificationNumber" xlink:type="locator" xlink:label="dei_EntityTaxIdentificationNumber" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityIncorporationStateCountryCode" xlink:type="locator" xlink:label="dei_EntityIncorporationStateCountryCode" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityFileNumber" xlink:type="locator" xlink:label="dei_EntityFileNumber" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:type="locator" xlink:label="dei_EntityEmergingGrowthCompany" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCentralIndexKey" xlink:type="locator" xlink:label="dei_EntityCentralIndexKey" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityRegistrantName" xlink:type="locator" xlink:label="dei_EntityRegistrantName" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentPeriodEndDate" xlink:type="locator" xlink:label="dei_DocumentPeriodEndDate" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_AmendmentFlag" xlink:type="locator" xlink:label="dei_AmendmentFlag" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentType" xlink:type="locator" xlink:label="dei_DocumentType" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CoverAbstract" xlink:type="locator" xlink:label="dei_CoverAbstract" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_DocumentType" order="10010.00" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_AmendmentFlag" order="10030.00" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_DocumentPeriodEndDate" order="10050.00" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityRegistrantName" order="10070.00" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityCentralIndexKey" order="10090.00" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityEmergingGrowthCompany" order="10110.00" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityFileNumber" order="10130.00" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
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<span style="display: none;">v3.19.3.a.u2</span><table class="report" border="0" cellspacing="2" id="idp6630019040">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Document And Entity Information<br></strong></div></th>
<th class="th"><div>Feb. 04, 2020</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
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</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Feb.  04,  2020<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">NEUROCRINE BIOSCIENCES, INC.<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000914475<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">0-22705<span></span>
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</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">DE<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">33-0525145<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">12780 El Camino Real<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">San Diego<span></span>
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</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">CA<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">92130<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">858<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">617-7600<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of each class</a></td>
<td class="text">Common Stock, $0.001 par value<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">NBIX<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Name of each exchange on which registered</a></td>
<td class="text">NASDAQ<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
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<td>xbrli:normalizedStringItemType</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
..report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

..report table.authRefData a {
	display: block;
	font-weight: bold;
}

..report table.authRefData p {
	margin-top: 0px;
}

..report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

..report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

..report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

..report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
..pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
..report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

..report hr {
	border: 1px solid #acf;
}

/* Top labels */
..report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

..report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

..report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	white-space: normal; /* word-wrap: break-word; */
}

..report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
	overflow: hidden;
}

..report td.pl div.a {
	width: 200px;
}

..report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
..report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
..report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
..report .re, .report .reu {
	background-color: #def;
}

..report .reu td {
	border-bottom: 1px solid black;
}

/* Odd rows... */
..report .ro, .report .rou {
	background-color: white;
}

..report .rou td {
	border-bottom: 1px solid black;
}

..report .rou table td, .report .reu table td {
	border-bottom: 0px solid black;
}

/* styles for footnote marker */
..report .fn {
	white-space: nowrap;
}

/* styles for numeric types */
..report .num, .report .nump {
	text-align: right;
	white-space: nowrap;
}

..report .nump {
	padding-left: 2em;
}

..report .nump {
	padding: 0px 0.4em 0px 2em;
}

/* styles for text types */
..report .text {
	text-align: left;
	white-space: normal;
}

..report .text .big {
	margin-bottom: 1em;
	width: 17em;
}

..report .text .more {
	display: none;
}

..report .text .note {
	font-style: italic;
	font-weight: bold;
}

..report .text .small {
	width: 10em;
}

..report sup {
	font-style: italic;
}

..report .outerFootnotes {
	font-size: 1em;
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ZIP
<SEQUENCE>21
<FILENAME>0001564590-20-003494-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
