Neurocrine Biosciences, Inc. · NASDAQ:NBIX
Neurocrine Biosciences — Investor Day (December 2025)
81 slides from Neurocrine Biosciences's investor day presentation, Dec 16, 2025
Slide 1: Neurocrine Biosciences R&D Day 2025
Neurocrine Biosciences R&D Day 2025 December 16, 2025 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements In addition to historical facts, this presentation contains forward-looking statements that involve a number of risks and uncertainties. These statements include, but are not limited to, statements related to: our business strategy, objectives, and future development plans
Slide 3: Neurocrine Biosciences Speakers
Neurocrine Biosciences Speakers Kyle W. Gano, Ph.D. Dr. Sanjay Keswani Jude Onyia, Ph.D. Chief Executive Officer Chief Medical Officer Chief Scientific Officer 3
Slide 4: Key Opinion Leader
Key Opinion Leader • Leader in the discovery of the rapid antidepressant effects of ketamine in depressed patients Dr. John Krystal • Authored over 900 publications on the neurobiology and treatment of psychiatric disorders The Robert L. McNeil, Jr., Professor of • Co-director of the Yale Center for
Slide 5: Agenda
Agenda TIME (PST) Topic Speaker(s) Welcome Todd Tushla, Vice President Investor Relations 9:00 – 9:25 CEO Opening Remarks Kyle Gano, Ph.D., Chief Executive Officer Neuropsychiatry Portfolio Dr. Sanjay Keswani, Chief Medical Officer Dr. John Krystal (Professor at Yale University) 9:25 – 10:30 Key Opi
Slide 6: CEO Opening Remarks
CEO Opening Remarks Kyle Gano, Ph.D. | Chief Executive Officer 6
Slide 7: Key Messages for Today
Key Messages for Today Diversified Psychiatry pipeline Redesigned R&D CRF-based therapies offer neuroscience and positioned to deliver organization is quickly third growth horizon in endocrinology leader multiple first- and delivering diverse, high- endocrinology and with scale best-in-class quality
Slide 8: Neurocrine has a History Rooted in Neurology, Endocrinology, Immunology and CRF
Neurocrine has a History Rooted in Neurology, Endocrinology, Immunology and CRF Our Scientific Founding Fathers Wylie W. Vale, Ph.D. Dr. Lawrence J. Steinman Corticotropin Releasing Altered Peptide Ligands / Factor / "CRF" "APL" Helen McLoraine Professor of Molecular Professor of Neurology and Pedia
Slide 9: Neurocrine has a History Rooted in Neurology (2000 Presentation)
Neurocrine has a History Rooted in Neurology, Endocrinology, Immunology and CRF 2000 Presentation 9
Slide 10: Neurocrine has a History Rooted in Neurology (2005 Presentation)
Neurocrine has a History Rooted in Neurology, Endocrinology, Immunology and CRF 2005 Presentation 10
Slide 11: Neurocrine has a History Rooted in Neurology (2010 Presentation)
Neurocrine has a History Rooted in Neurology, Endocrinology, Immunology and CRF 2010 Presentation 11
Slide 12: Connecting Our Past to Our Future
Connecting Our Past to Our Future Established Therapeutic Area Foundations Neuropsychiatry Endocrinology Tardive Dyskinesia & Huntington’s Disease Chorea Classic Congenital Uterine Endometriosis Adrenal Hyperplasia Fibroids Positioned to deliver portfolio of first- and best-in-class medicines Osavam
Slide 13: Neurocrine Tomorrow — Back to Our Future
Neurocrine Tomorrow — Back to Our Future Our R&D Strategic Pillars Operational Execution Scale & Diversify LEAD DELIVER MAXIMIZE & EVOLVE The VMAT2 Category The Promise of CRF The Pipeline Advance next-generation Advance next-generation Deliver on the value of our molecules and new long- molecules e
Slide 14: Robust Partnership Strategy Continues to Accelerate Our Impact
Robust Partnership Strategy Continues to Accelerate Our Impact AI & Computational Drug Discovery Antibodies Conjugates Genetic Medicines Peptide Small Molecules 14
Slide 15: R&D Will Deliver A New Medicine Every Two Years
R&D Will Deliver A New Medicine Every Two Years Multimodality Mid-stage pipeline focused on clinically Commitment to R&D innovation engine or genetically validated targets Internal Drug Discovery Research 4+ Phase 1 Starts Target level of Right Modality for the productivity each year Right Target (O
Slide 16: Neurocrine Today: Clinical Pipeline
Neurocrine Today: Clinical Pipeline Modality Key: Small Molecule Peptide PROGRAM (TARGET) MODALITY T H E R A P E UT I C A R E A I N D I C A T IO N PHASE 1 PHASE 2 PHASE 3 valbenazine (VMAT2 Inhibitor) Neurology Dyskinetic Cerebral Palsy Inadequate Response to Treatment osavampator (AMPA PAM) Psychia
Slide 17: Neuropsychiatry Overview
Neuropsychiatry Overview Dr. Sanjay Keswani | Chief Medical Officer 17
Slide 18: Broad Neuropsychiatry Pipeline Driven By Validated Biology
Broad Neuropsychiatry Pipeline Driven By Validated Biology Industry-Leading Neuropsychiatry Pipeline Glutamate Modulation Muscarinic Agonists VMAT2 Inhibition Osavampator (AMPA PAM) Direclidine (M4) INGREZZA® (valbenazine) Major Depressive Disorder Schizophrenia, Bipolar Mania TD, HD-Chorea NBI-’770
Slide 19: Osavampator
Osavampator A Potential First-in-Class AMPA Positive Allosteric Modulator 19
Slide 20: Current Treatments for MDD Leave Major Unmet Needs
Current Treatments for MDD Leave Major Unmet Needs ~1/3 of 16 Million+ People in the U.S. Who Live with MDD Do Not Respond to Available Antidepressants Efficacy and Durability Safety and Tolerability Cognition and Functioning Low rates of response/remission Need for more tolerable Treatment options
Slide 21: Osavampator Has the Potential to Deliver Ketamine-Like Efficacy
Osavampator Has the Potential to Deliver Ketamine-Like Efficacy with an Improved Safety and Tolerability Profile Ketamine blocks NMDA receptor on pre-synaptic GABAergic inhibitory interneurons to induce a burst of synaptic glutamate release and excite post-synaptic AMPAR Increase in AMPA activity: O
Slide 22: The Phase 2 SAVITRI Study Design
The Phase 2 SAVITRITM Study Evaluated the Efficacy and Safety of adjunctive Osavampator vs. Placebo in Individuals with MDD and Inadequate Response to Antidepressants Randomized, double-blind, placebo-controlled study conducted to evaluate osavampator, an investigational, potential first-in-class an
Slide 23: Osavampator Demonstrated Statistically Significant Improvements in Depression Severity
Osavampator Demonstrated Statistically Significant and Clinically Meaningful Improvements in Depression Severity Phase 2 SAVITRITM Study Results Least Squares Mean Change From Baseline in MADRS for Statistically Significant 1mg Dose LS mean ( SEM) change from baseline 0 Day 28 MADRS Total Score by V
Slide 24: Osavampator Demonstrated Favorable Safety and Tolerability
Osavampator Demonstrated Favorable Safety and Tolerability Osavampator was Generally Well-tolerated No Seizures, Deaths, or Serious Adverse Events Adverse Event Profile for Both Doses of No Psychotomimetic or Dissociative Events osavampator were Comparable to Placebo Discontinuation Rates Were Low O
Slide 25: Phase 3 Studies Test Adjunctive Osavampator QD vs. Placebo
Phase 3 Studies Tests Adjunctive Osavampator QD vs. Placebo in MDD with Inadequate Response All Three Phase 3 Studies of Identical Design Enrolling With Data Expected in 2027 SCREENING/ DOUBLE-BLIND BASELINE TREATMENT Option to roll over into open-label, long-term Randomized Osavampator QD (1mg Dose
Slide 26: Osavampator Phase 3 Clinical Program in Adjunctive MDD
Osavampator* Phase 3 Clinical Program in Adjunctive MDD Study Number of Subjects Topline Data Description per Study Expected Short-Term (Acute) Study #1 Identical Short-Term (Acute) Study #2 Short-Term 200 per Study 2027 Studies Short-Term (Acute) Study #3 Maintenance of Effect Randomized Withdrawal
Slide 27: Industry-Leading Selective Muscarinic Agonist Portfolio
Industry-Leading Selective Muscarinic Agonist Portfolio 27
Slide 28: Muscarinic Platform Has Potential to Transform Treatment of CNS Disorders
Muscarinic Platform Has Potential to Significantly Transform Treatment Paradigm of Multiple CNS-Related Disorders Direclidine NBI-’570 NBI-’569 NBI-’567 Mechanism of Dual M1 / M4 Dual M1 / M4 M1 Preferring M4 Agonist Action Agonist Agonist Agonist 11 – 16 18 – 22 35 – 50 17 – 19 Half Life Hours Hour
Slide 29: Current Treatments for Schizophrenia Leave Major Unmet Needs
Current Treatments for Schizophrenia Leave Major Unmet Needs More than 3 Million People in the U.S. Suffer from Schizophrenia Side Effects More Efficacious Therapies Managing All Symptoms Long-term Use Concerns Treatment Resistance Positive and Negative Symptoms Metabolic Issues / Weight Gain Inadeq
Slide 30: Phase 2 Schizophrenia Study: Once-Daily 20mg Direclidine Efficacy
Phase 2 Schizophrenia Study Once-Daily 20mg Direclidine Demonstrated Clinically Meaningful and Statistically Significant Efficacy at Weeks 3, 4, 5, and 6 0 20mg QD Efficacy Data Week 4 – Week 6 PANSS Total Score Change from Baseline LS Mean1 ± SEM -5 -5.7 PANSS Total Score -8.2 -7.7 -8.4 -9.6 Week 4
Slide 31: Direclidine Improved Key Secondary Endpoints
Once-Daily 20mg Direclidine Demonstrated Statistically Significant Improvement in Key Secondary Endpoints \ CGI-S Marder Factor — Positive Marder Factor — Negative Placebo 20mg QD Placebo 20mg QD Placebo 20mg QD Week 6 N=68 N=35 N=68 N=35 N=68 N=35 LS Mean Change from Baseline* -0.5 -1.2 -2.8 -5.8 -
Slide 32: Direclidine Potential Best-in-Class Safety and Tolerability Profile
Direclidine Presents a Potential Best-in-Class Safety and Tolerability Profile at All Doses Studied Treatment-Emergent Adverse Events Occurring in ≥ 5% of All Treated Groups of Direclidine 20mg QD 40mg QD 60mg QD 30mg BID All Treated Placebo \ N=40 N=39 N=34 N=27 N=140 N=70 Somnolence 5 (12.5) 2 (5.
Slide 33: Direclidine Positive Phase 2 Topline Results Supports Advancement to Phase 3
Direclidine Positive Phase 2 Topline Results Supports Advancement to Phase 3 Results show differentiated efficacy with best-in-class safety and tolerability versus approved therapies Statistically Significant and Clinically Generally Safe and Well-tolerated Meaningful Improvements Across Across All
Slide 34: Direclidine Presents Opportunity for More Convenient, Safer Treatment Option
Direclidine Presents Opportunity for More Convenient, Safer Treatment Option Type of Muscarinic Subtype Requires Endogenous Activation Selectivity Ligand (Acetylcholine) Large Opportunity For Direclidine, A Novel And Differentiated Asset Direclidine No Direclidine is the First and Only Highly High (
Slide 35: Phase 3 Schizophrenia Studies: Simple, Short-Term Trial Design
Phase 3 Schizophrenia Studies: Simple, Short-Term Trial Design Tests 20mg QD vs. Placebo with 1:1 Randomization Phase 3 Program Enrolling with Initial Topline Data Expected in 2027 Placebo Adult Inpatients with Safety Schizophrenia Follow-Up Direclidine Treatment: Visit Ages 18-65 20 mg QD Randomize
Slide 36: Direclidine Phase 3 Clinical Program in Schizophrenia
Direclidine* Phase 3 Clinical Program in Schizophrenia Study Number of Subjects Topline Data Description Per Study Expected Short-Term (Acute) Study #1 284 2027 Short-Term (Acute) Study #2 284 2028 Randomized Withdrawal 560 2029 Long-Term Safety (Open Label) 800 2031 *Direclidine is Investigational
Slide 37: Next-Generation VMAT2 Follow-On Candidates
Next-Generation VMAT2 Follow-On Candidates 37
Slide 38: Next Generation, Internally Developed VMAT2 Inhibitors
Next Generation, Internally Developed VMAT 2 Inhibitors Underscore Continued Innovation in Tardive Dyskinesia Treatment Next-generation compounds LAI unlocks new patient New populations include show increased half-life, populations and treatment patients with: severe psychiatric potency, solubility
Slide 39: Advancing an Industry-Leading Neuropsychiatry Portfolio
Advancing an Industry-Leading Neuropsychiatry Portfolio Stage of Program Mechanism Disease State Development Osavampator AMPA PAM Major Depressive Disorder Phase 3 Schizophrenia Phase 3 Direclidine M4 Agonist Bipolar Mania Phase 2 NBI-’570 Dual M1/M4 Agonist Schizophrenia / LAI Potential Phase 2 NBI
Slide 40: Optimal Design and Execution of Phase 3 Psychiatry Studies
Optimal Design and Execution of Phase 3 Psychiatry Studies Optimizing Optimizing Trial Design Trial Execution 'Simple' Study Design Using Known Sites and Investigators 1:1 Randomization (Placebo:Active) Iterative Blinded Data Analytics Similar # of Sites vs. Phase 2 Study In-House Managed Study, Pai
Slide 41: Neuroscience Key Opinion Leader Q&A
Neuroscience Key Opinion Leader Q&A Dr. John Krystal | Yale University Moderated by Dr. Jaz Singh | Vice President, Psychiatry Development 41
Slide 42: 5 Minute Intermission
5 Minute Intermission 42
Slide 43: Transforming R&D: Unlocking Neurocrine's Growth Potential
Transforming R&D: Unlocking Neurocrine’s Growth Potential Jude Onyia, Ph.D. | Chief Scientific Officer 43
Slide 44: Ushering in a New Era of R&D Transformation and Excellence
Ushering in a New Era of R&D Transformation and Excellence Building a diversified, high-performance R&D engine to deliver sustainable innovation and shareholder value Key Highlights Near-Term Priorities • “20 in 5” Vision: Executing a bold strategy to advance 20 programs in 5 years • Sustainability:
Slide 45: Building on a Strong Foundation
Building on a Strong Foundation Proven Leaders and Drug Hunters Platform Heads Distinguished Scholars External innovation Nicole Harriott, Steve Perry, Adam Mezo, Satjit Brar, Ph.D., Andrew Ratz, Ph.D. Dimitri Eiry Roberts, M.D. Jerold Chun, Samir Siddhanti Ph.D. Ph.D. Ph.D. PharmD Senior VP, Grigor
Slide 46: NBIX R&D Pre-2022: Gaps/Opportunities
NBIX R&D Pre-2022: Gaps/Opportunities Status Opportunities Future State Internal vs. • Strong and productive external • Maintain strong external innovation Fill the pipeline with quality External innovation • Strengthen internal innovation assets and develop them Innovation • Limited internal innova
Slide 47: R&D Transformation (2022-Present): Vision & Strategy
R&D Transformation (2022-Present): Vison & Strategy BUILD Breadth, Depth & RE-Invigorate Productivity VISION: Global Leadership in Neuroscience (Top 5) 5-YEAR PLAN: Produce 20 Development Diversify Our Therapeutic Area: Neurology, Psychiatry, Endocrinology, Immunology Candidates* Symptomatic & Disea
Slide 48: Future Therapeutic Focus Maximizes Opportunities
Future Therapeutic Focus Maximizes Opportunities to Drive Output of High-Quality Development Candidates Prioritizing Heavier Early-Stage Investment in Neurology vs. Neuropsychiatry Today Neurology Psychiatry (50%) (25%) Endocrinology Immunology (15%) (10%) 48
Slide 49: New Modalities Are Driving The Next Wave Of Innovation
New Modalities Are Driving The Next Wave Of Innovation Small Gene Peptides Antibodies Conjugates Molecules Therapy Develop expertise in new modalities Neurology ✓ ✓ ✓ ✓ ✓ Access new platforms via external innovation Psychiatry ✓ ✓ ? — ? Apply platforms agnostically and rapidly to create and advance
Slide 50: Pointing The Engine at High Confidence/High Opportunity Targets
Pointing The Engine at High Confidence/High Opportunity Targets Increases Probability of Technical Success H Opportunity Size * M 75 % L L M H Confidence ** Focus on High Confidence and High Opportunity Targets Neurology Endocrinology Modality: Antibody Gene Therapy Small Molecule Molecule Design/En
Slide 51: Aggressive External Innovation is a Major Accelerant To Strategy
Aggressive External Innovation is a Major Accelerant To Strategy And Productivity (2022-Present) Key Transactions Driving Neurocrine’s R&D Engine Access to multiple antibody discovery platforms & assets Small New Antibody Peptide Gene Therapy Option deals with Biocytogen and NeoMab allow Molecule Mo
Slide 52: R&D
R&D 52
Slide 53: Increased Numbers of Assets and Faster Timeframes Lead to Robust Early Pipeline
A Lot to be Proud of: Increased Numbers of Assets and Faster Timeframes Are Leading to a Robust Early Clinical Pipeline Total Number of Total Number of 24 New Development Candidates Development Candidates Phase 1 Programs since 2022-2025 (Includes Internal and External Innovation) 30+ 10 Clinical Tr
Slide 54: Clinical Pipeline Has Transformed Significantly Since 2020
Clinical Pipeline Has Transformed Significantly Since 2020 Neurology Immunology Endocrinology Psychiatry Pre-Dev Candidates IND Enabling / Development Candidates Phase 1 Pipeline Candidates (19 Total) (15 Total) (9 Total) 7 7 5 6 4 4 3 2 2 1 1 1 Neurology Immunology Endocrinology Psychiatry Neurolog
Slide 55: R&D Will Deliver A New Medicine Every Two Years
R&D Will Deliver A New Medicine Every Two Years. Multimodality Mid-stage pipeline focused on clinically Commitment to R&D innovation engine or genetically validated targets Internal Drug Discovery Research 4+ Phase 1 Starts Target level of Right Modality for the productivity each year Right Target (
Slide 56: Endocrinology Strategy & Pipeline
Endocrinology Strategy & Pipeline 56
Slide 57: Founded On a CRF Platform With Over 30 Years of R&D
Founded On a CRF Platform With Over 30 Years of R&D on CRF1 and CRF2 Receptor Drugs for Neuroendocrine and Other Diseases Key Milestones in CRF Science Neurocrine CRF2 Programs 1981 CRF Initiated R&D Strategic Identified Refresh 1993 Human CRFR1 NBIX announces positive Ph2 Results for Urocortin 2 Cl
Slide 58: Endocrinology: Leveraging And Building On Our Foundation in CRF Biology
Endocrinology: Leveraging And Building On Our Foundation in CRF Biology Corticotropin Releasing Factor Our Strategy in Endocrinology • Win at CAH and continue to serve CRF1: Foundational / CAH CRF2 (+): Emerging/Growth patients (HPA Dysregulation) (Metabolic Disorder) • Harness over three decades of
Slide 59: CRF2 Agonist
CRF2 Agonist Opportunity for Weight Loss with Functional Muscle Preservation 59
Slide 60: CRF2 is an Attractive Target for Metabolic Disease
CRF2 is an Attractive Target for Metabolic Disease • CRF2 is expressed in brain and peripheral tissues; activation drives rebalancing towards metabolic homeostasis. • In various animal models, CRF2 agonists reduce food intake & body weight, build muscle, enhance cardiac function, improve renal funct
Slide 61: NBIP-'2118 Product Profile Provides Opportunity for Weight Loss
NBIP-'2118 Product Profile Provides Opportunity for Weight Loss with Functional Muscle Preservation Leverages expertise in CRF biology to deliver a non-incretin with fat-specific weight loss and improved GI tolerability Attribute Profile PK Once weekly subcutaneous injection Tolerability Improved GI
Slide 62: NBIP-'2118 Reduces Body Weight in Diet-Induced Obese Mice
NBIP-’2118 Reduces Body Weight in Diet-Induced Obese Mice Efficacy equivalent to best-in-class GLP-GIP comparator Cumulative Food Intake Percent Body Weight Change Oral Glucose Tolerance Test NBIP-’2118 = CRF2 agonist DIO mice 16 weeks on HFD 62 Test article SC every 3 days for 28 days
Slide 63: NBIP-'2118 Preserves Muscle Mass While Driving Robust Fat Loss
NBIP-’2118 Preserves Muscle Mass While Driving Robust Fat Loss qNMR Fat Mass Change qNMR Lean Mass Change qNMR Fat and Lean Mass Contributions to Weight Change NBIP-’2118 = CRF2 agonist 63
Slide 64: NBIP-'2118 on Track to Initiate Phase 1 Study in 1H 2026
NBIP-’2118 on Track to Initiate Phase 1 Study in 1H 2026 Predicted Human Plasma Exposure • Novel mechanism with differentiated profile in obesity Predicted (mg/mL) • Pharmacokinetics supports once a week dosing frequency by subcutaneous administration • Solubility compatible with simple autoinjector
Slide 65: CRF2 Agonist + Incretin
CRF2 Agonist + Incretin Preserving Muscle While Driving Maximal Fat Loss 65
Slide 66: How We Will Win at CRF2: Combining an Incretin with a CRF2 Agonist
How We Will Win at CRF2: Combining an Incretin with a CRF2 Agonist Achieves Superior Weight Loss While Preserving Lean Mass and Improved Tolerability Mix-&-Match Co-Formulation Single molecule (conjugate) CRF2 agonist CRF2 agonist Incretin mimetic (TG) + (NBIP-’2118) Incretin mimetic (TG) (NBIP-’211
Slide 67: Mix-&-Match Co-Formulation Enables Flexible Ratio Tuning
Mix-&-Match Co-Formulation Enables Flexible Ratio Tuning To Maximize Weight Loss And Lean Mass Preservation While Optimizing Tolerability Enables easier manufacturing and flexibility for partnership with different compounds Percent Body Weight Change qNMR Day 21 5 Total Body Weight loss (g) 0 -5 Fat
Slide 68: CRF2-Incretin Conjugate Matches GLP-1/GIP Competitor Weight Loss
CRF2-Incretin Conjugate Matches GLP-1/GIP Competitor Weight Loss While Enhancing Lean Mass Enables a Streamlined Development Plan Without the Need for Factorial Phase 2 or 3 Designs Percent Body Weight Change qNMR Day 28 5 Total Body Weight loss (g) 0 -5 Fat Lean -10 100% 85% 100% -15 97% -20 Veh TG
Slide 69: Once-Monthly "Best" Incretin (TGFc)
Once-Monthly “Best” Incretin (TGFc) Superior Weight Loss With Convenient Dosing Regimen 69
Slide 70: TGFc Delivers Superior Weight Loss and Convenient Once Monthly Dosing
TGFc Delivers Superior Weight Loss and Convenient, Once Monthly Dosing Enables Better GI Tolerability Given Flat Exposure Prolife TGFc Drives Superior Weight Loss in DIO Mice • Triple agonist (GLP1R, GIPR and GCGR) for maximal efficacy — “optimized” for less glucagon activity 110 % Body weight chang
Slide 71: TGFc Pharmacokinetics Support Once Monthly Dosing in Humans
TGFc Pharmacokinetics Support Once Monthly Dosing in Humans Pharmacokinetics in NHP NHP Plasma T1/2 Human Plasma T1/2 Molecule (days) (days) single subcutaneous injection of TGFc TGFc 21 TBD Plasma con. (ng/mL) Tirzepatide 2.3 5 Maritide 10 20 Time (hours) MET-097i Unknown 15-16 Total Fc – includes
Slide 72: Neuroendocrinology Portfolio Addresses Multiple Opportunities In Obesity Space
Neuroendocrinology Portfolio Addresses Multiple Opportunities In Obesity Space Provides Flexibility To Pivot Based On Evolving Competitive Landscape And Market Needs Continue to win at CAH and to serve patients Our Strategy in Endocrinology • Harness over three decades of Central strategy focused on
Slide 73: Key Subject Matter Experts Hired
Key Subject Matter Experts Hired Biologics and Obesity / Neuroendocrine Expertise Base in NBIX has Evolved …. Krister Bokvist Adam Mezo Fiona Scott Jean L. Chan, MD Senior Scientific Director — VP, Research — VP Research — VP, Clinical Development – Metabolic Disease Peptides and Bioconjugates Neuro
Slide 74: Key Subject Matter Experts Hired
Key Subject Matter Experts Hired Biologics and Obesity / Neuroendocrine Expertise Base in NBIX has Evolved …. Chad Paavola Andrew Ratz Tom Bumol Exec. Scientific Director - Biologics Lead Sr. Vice President, CMC — Delivery and Member of Scientific Advisory Board Device Joined in 2023 Joined in 2023
Slide 75: Q&A
Q&A 75
Slide 76: Closing Remarks
Closing Remarks Kyle Gano, Ph.D. | Chief Executive Officer 76
Slide 77: What You Heard Today – Key Takeaways
What You Heard Today – Key Takeaways Neurocrine is Well-Positioned to Drive Sustainable Growth and Value Diversified, Neuropsychiatry Pipeline Redesigned R&D 30+ Years of Innovation in Multi-product Positioned to Deliver Organization is Enabling CRF Biology is Unlocking New Biopharmaceutical Multipl
Slide 78: Neurocrine Today: Clinical Pipeline
Neurocrine Today: Clinical Pipeline Modality Key: Small Molecule Peptide PROGRAM (TARGET) MODALITY T H E R A P E UT I C A R E A I N D I C A T IO N PHASE 1 PHASE 2 PHASE 3 valbenazine (VMAT2 Inhibitor) Neurology Dyskinetic Cerebral Palsy Inadequate Response to Treatment osavampator (AMPA PAM) Psychia
Slide 79: Robust Pipeline Entering 2026
Robust Pipeline Entering 2026 Modality Key: Small Molecule Peptide Antibody Includes Recently Initiated Studies Study Status Key: Current Study Study Initiating P R O G R AM ( T A R G E T ) M O D AL I T Y THERAPEUTIC AREA I N D I C A T I ON PHASE 1 PHASE 2 PHASE 3 valbenazine (VMAT2 Inhibitor) Neuro
Slide 80: Advancing on Our Mission to be the Leading Neuroscience Company
Advancing on Our Mission to be the Leading Neuroscience Company Innovation-Driven R&D Strategy Select Near-Term Milestones Therapeutic Area Robust and Enroll Phase 2 and Phase 3 Studies Diversification: Sustainable Pipeline • Osavampator (AMPA PAM) for Major Depressive Disorder • Neurology • Direcli
Slide 81: Thank You
Thank You 81
Neurocrine Biosciences — Investor Day (December 2025) on 6ix