SAN DIEGO, May 16 /PRNewswire-FirstCall/ -- Neurocrine Biosciences, Inc.
(Nasdaq: NBIX) announced today that the Company has received communication
from the U.S. Food and Drug Administration (FDA) indicating that the agency
has determined that indiplon 5 mg and 10 mg capsules are approvable and the
15 mg XR tablets are not approvable at this time. The FDA indicated that they
did not have an opportunity to review all of the information submitted during
the NDA review cycles. The Company will accept FDA's offer to discuss the
applications via a meeting or telephone conference in order to clarify and
determine the next steps required to move indiplon towards full approval.
"While we are disappointed in the FDA action, we will move forward
expeditiously to address FDA's outstanding questions regarding the
applications," said Gary A. Lyons, President and CEO of Neurocrine. "We are
heartened by the approvable action for indiplon capsules and are dedicated to
working with the Agency to expedite response to the action letters."
Conference Call and Webcast at 9:00 AM. Eastern Time
Neurocrine will host a live conference call and Webcast to discuss this
press release on May 16, 2006 at 9:00 AM Eastern Daylight Time (EDT)/ 6:00 AM
Pacific Daylight Time (PDT). Participants may access the live Conference Call
by dialing 1-800-540-0559 (U.S.) or 785-832-2041 (International) and using the
Conference ID# NBIX. The call can also be accessed via the Webcast through
Neurocrine's website at http://www.neurocrine.com .
Neurocrine Biosciences, Inc. is a product-based biopharmaceutical company
focused on neurological and endocrine diseases and disorders. Our product
candidates address some of the largest pharmaceutical markets in the world
including insomnia, anxiety, depression, diabetes, irritable bowel syndrome,
eating disorders, pain, and autoimmunity. Neurocrine Biosciences, Inc. news
releases are available through the Company's website via the Internet at
In addition to historical facts, this press release may contain forward-
looking statements that involve a number of risks and uncertainties relating
to Neurocrine's indiplon program that could cause actual results to differ
materially from those indicated in the forward-looking statements.
Specifically, the risks and uncertainties the Company faces with respect to
its indiplon program include, but are not limited to; risk that the Company
will not be able to address issues and or requests set forth in the action
letters from the FDA in a timely manner; risk that the Company will not be
able to address issues and or requests set forth in the action letters from
the FDA in a manner acceptable to the FDA; the risk that FDA may reject any
future indiplon regulatory filings or find them incomplete or insufficient;
risk that indiplon approval and subsequent commercialization may be
significantly delayed; and the other risks described in Neurocrine's annual
report on Form 10-K for the year ended December 31, 2005 and quarterly report
on Form 10-Q for the quarter ended March 30, 2006. Neurocrine undertakes no
obligation to update the statements contained in this press release after the
SOURCE Neurocrine Biosciences, Inc.
CONTACT: Elizabeth Foster, or Claudia Woodworth, both of Neurocrine,
Web site: http://www.neurocrine.com