XML 22 R2.htm IDEA: XBRL DOCUMENT v3.25.1
Pay vs Performance Disclosure - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2024
Oct. 11, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure              
Pay vs Performance Disclosure, Table    
Value of Initial Fixed $100 Investment Based On:
Year
Summary Compensation Table Total for Former PEO ($)(1)
Compensation Actually Paid to Former PEO ($)(2)
Summary Compensation Table Total for Current PEO ($)(3)
Compensation Actually Paid to Current PEO ($)(4)
Average Summary Compensation Table Total for Non-PEO NEOs ($)(5)
Average Compensation Actually Paid to Non-PEO NEOs ($)(6)
Total Shareholder Return ($)(7)
Peer Group Total Shareholder Return ($)(7)
GAAP Net Income (millions) ($)(8)
Net Product Sales
(millions) ($)(9)
(a)(b)(c)
(d)
(e)
(f)
(g)
(h)
(i)
(j)
(k)
2024$16,018,637$16,741,241$8,535,422$7,083,275$6,675,384$6,488,850$126.99$118.20$341.3$2,330.6
2023$15,750,812$12,335,515$6,286,290$5,262,182$122.58$118.87$249.7$1,860.6
2022$11,902,527$21,886,517$5,200,614$11,398,982$111.46$111.66$154.5$1,440.9
2021$14,081,412$4,496,176$6,429,791$3,012,565$79.48$125.33$89.6$1,090.1
2020$13,880,632$8,176,596$6,522,476$4,030,852$89.45$126.13$407.3$994.1
 
       
Named Executive Officers, Footnote     The dollar amounts reported in column (b) are the amounts of total compensation reported for Kevin C. Gorman, Ph.D. (Former PEO) for each corresponding year in the “Total” column of the Summary Compensation Table. The dollar amounts reported in column (d) are the amounts of total compensation reported for Kyle W. Gano, Ph.D. (Current PEO) for each corresponding year in the “Total” column of the Summary Compensation Table. Dr. Gano, formerly Neurocrine Biosciences' Chief Business Development and Strategy Officer, succeeded Dr. Gorman as the Company’s CEO, effective October 11, 2024. The dollar amounts reported in column (f) represent the average of the amounts reported for the Company’s Non-PEO NEOs as a group in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of the Non-PEO NEOs included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2024, Matthew C. Abernethy, Eric Benevich, Jude Onyia, Ph.D., and Eiry W. Roberts, M.D.; (ii) for 2023, Matthew C. Abernethy, Kyle W. Gano, Ph.D., Darin M. Lippoldt, and Eiry W. Roberts, M.D.; (iii) for 2022, Matthew C. Abernethy, Eric Benevich, Jude Onyia, Ph.D., and Eiry W. Roberts, M.D.; (iv) for 2021, Matthew C. Abernethy, Eric Benevich, Kyle W. Gano, Ph.D., and Eiry W. Roberts, M.D; and (v) for 2020, Matthew C. Abernethy, Eric Benevich, Kyle W. Gano, Ph.D., and Eiry W. Roberts, M.D.        
Adjustment To PEO Compensation, Footnote     The dollar amounts reported in column (c) represent the amount of CAP for Dr. Gorman, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Dr. Gorman during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to Dr. Gorman’s total reported compensation for 2024 to determine the CAP:
2024
Total Compensation for Covered Fiscal Year ("FY") from Summary Compensation Table
$16,018,637 
Deduct: Amounts Reported in "Stock Awards" & "Option Awards" Columns
13,999,837 
Add: Year End Fair Value of Equity Awards Granted During the Covered FY that Remain Outstanding and Unvested as of Last Day of the Covered FY8,140,851 
Add: Change in Fair Value from the end of the Prior FY to the end of the Covered FY
5,193,013 
Add: Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Covered FY
1,367,672 
Add: Change in Fair Value as of the Vesting Date of Equity Awards Granted in Prior FY that Vested in the Covered FY
20,905 
Add: Fair Value at the End of the Prior FY of Equity Awards that Failed to Meet Vesting Conditions in the Covered FY
— 
Add: Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation— 
Compensation Actually Paid (as defined by SEC rule)$16,741,241 
The dollar amounts reported in column (e) represent the amount of CAP for Dr. Gano, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Dr. Gano during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to Dr. Gano’s total reported compensation for 2024 to determine the CAP:
2024
Total Compensation for Covered Fiscal Year ("FY") from Summary Compensation Table$8,535,422 
Deduct: Amounts Reported in "Stock Awards" & "Option Awards" Columns7,250,076 
Add: Year End Fair Value of Equity Awards Granted During the Covered FY that Remain Outstanding and Unvested as of Last Day of the Covered FY4,402,908 
Add: Change in Fair Value from the end of the Prior FY to the end of the Covered FY814,206 
Add: Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Covered FY563,101
Add: Change in Fair Value as of the Vesting Date of Equity Awards Granted in Prior FY that Vested in the Covered FY17,714 
Add: Fair Value at the End of the Prior FY of Equity Awards that Failed to Meet Vesting Conditions in the Covered FY— 
Add: Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation— 
Compensation Actually Paid (as defined by SEC rule)$7,083,275 
       
Non-PEO NEO Average Total Compensation Amount     $ 6,675,384 $ 6,286,290 $ 5,200,614 $ 6,429,791 $ 6,522,476
Non-PEO NEO Average Compensation Actually Paid Amount     $ 6,488,850 5,262,182 11,398,982 3,012,565 4,030,852
Adjustment to Non-PEO NEO Compensation Footnote     The dollar amounts reported in column (g) represent the average amount of CAP to the Non-PEO NEOs, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the NEOs as a group (excluding the PEO(s)) during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to average total reported compensation for the Non-PEO NEOs for each year to determine the CAP, using the same methodology described above in Notes 2 and 4:
2024
Total Compensation for Covered FY from Summary Compensation Table
$6,675,384 
Deduct: Amounts Reported in "Stock Awards" & "Option Awards" Columns
5,487,510 
Add: Year End Fair Value of Equity Awards Granted During the Covered FY that Remain Outstanding and Unvested as of Last Day of the Covered FY3,534,335 
Add: Change in Fair Value from the end of the Prior FY to the end of the Covered FY
1,286,100 
Add: Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Covered FY
488,933 
Add: Change in Fair Value as of the Vesting Date of Equity Awards Granted in Prior FY that Vested in the Covered FY
(8,392)
Add: Fair Value at the End of the Prior FY of Equity Awards that Failed to Meet Vesting Conditions in the Covered FY
— 
Add: Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation— 
Compensation Actually Paid (as defined by SEC rule)$6,488,850 
       
Equity Valuation Assumption Difference, Footnote    
The assumptions used in calculating the fair value of the equity awards did not differ in any material respect from the assumptions used to calculate the grant date fair value of the awards as reported in the Summary Compensation Table, except that the fair value calculations of (i) the unvested options used an estimated term between 1.44 years and 6.76 years in fiscal 2024, as compared to an estimated term of 6.0 to 6.5 years used to calculate the grant date fair value of such awards, and (ii) the PRSUs assumed payout multipliers at current expectations, which range from 0% to 150% across different grant years and metrics, in each case as compared to the grant date fair value calculations which assumed a payout at target.
       
Compensation Actually Paid vs. Total Shareholder Return     6365        
Compensation Actually Paid vs. Net Income     6366        
Compensation Actually Paid vs. Company Selected Measure    
6367
       
Tabular List, Table     Net Product Sales
Non-GAAP Net Income
Pipeline Progression
Regulatory Advancement
       
Total Shareholder Return Amount     $ 126.99 122.58 111.46 79.48 89.45
Peer Group Total Shareholder Return Amount     118.20 118.87 111.66 125.33 126.13
Net Income (Loss)     $ 341,300,000 $ 249,700,000 $ 154,500,000 $ 89,600,000 $ 407,300,000
Company Selected Measure Amount     2,330,600,000 1,860,600,000 1,440,900,000 1,090,100,000 994,100,000
Additional 402(v) Disclosure     The dollar amounts reflect the cumulative Total Shareholder Return (TSR) of our common stock (column (h)) and the Peer Group (column (i)) for the measurement periods beginning on December 31, 2019 and ending on December 31 of each of 2024, 2023, 2022 and 2021, respectively, calculated in accordance with Item 201(e) of Regulation S-K. “Peer Group” represents the NASDAQ Biotechnology Index, which the Company has identified as its peer group for purposes of Item 402(v) and which is used by the Company for purposes of compliance with Item 201(e) of Regulation S-K. The dollar amounts reported in column (j) represent net income reflected in the Company’s audited financial statements for the applicable fiscal year.As required by Item 402(v) of Regulation S-K, we have determined that Net Product Sales is the Company-Selected Measure. Dollar amounts reported for INGREZZA net product sales, which represent nearly all of the Company's total net product sales, are reflected in the Company's audited financial statements for the applicable fiscal year.        
Measure:: 1              
Pay vs Performance Disclosure              
Name     Net Product Sales        
Measure:: 2              
Pay vs Performance Disclosure              
Name     Non-GAAP Net Income        
Measure:: 3              
Pay vs Performance Disclosure              
Name     Pipeline Progression        
Measure:: 4              
Pay vs Performance Disclosure              
Name     Regulatory Advancement        
Kevin C. Gorman, Ph.D. [Member]              
Pay vs Performance Disclosure              
PEO Total Compensation Amount   $ 16,018,637 $ 16,018,637 $ 15,750,812 $ 11,902,527 $ 14,081,412 $ 13,880,632
PEO Actually Paid Compensation Amount   16,741,241 $ 16,741,241 $ 12,335,515 $ 21,886,517 $ 4,496,176 $ 8,176,596
PEO Name     Kevin C. Gorman, Ph.D        
Kyle W. Gano, Ph.D. [Member]              
Pay vs Performance Disclosure              
PEO Total Compensation Amount     $ 8,535,422        
PEO Actually Paid Compensation Amount     7,083,275        
PEO Name Kyle W. Gano, Ph.D            
PEO | Kevin C. Gorman, Ph.D. [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount   (13,999,837)          
PEO | Kevin C. Gorman, Ph.D. [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount   8,140,851          
PEO | Kevin C. Gorman, Ph.D. [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount   5,193,013          
PEO | Kevin C. Gorman, Ph.D. [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount   1,367,672          
PEO | Kevin C. Gorman, Ph.D. [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount   20,905          
PEO | Kevin C. Gorman, Ph.D. [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount   0          
PEO | Kevin C. Gorman, Ph.D. [Member] | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount   $ 0          
PEO | Kyle W. Gano, Ph.D. [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     (7,250,076)        
PEO | Kyle W. Gano, Ph.D. [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     4,402,908        
PEO | Kyle W. Gano, Ph.D. [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     814,206        
PEO | Kyle W. Gano, Ph.D. [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     563,101        
PEO | Kyle W. Gano, Ph.D. [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     17,714        
PEO | Kyle W. Gano, Ph.D. [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     0        
PEO | Kyle W. Gano, Ph.D. [Member] | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     0        
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     (5,487,510)        
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     3,534,335        
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     1,286,100        
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     488,933        
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     (8,392)        
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     0        
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     $ 0