Neurocrine Biosciences, Inc. (NASDAQ: NBIX) is having an incredibly strong day in the pre-market this morning, and for good reason. The company received an FDA approval, leading to investor excitement and sending the stock skyrocketing. Of course, our partners at Trade Ideas were the first to alert us to the trend. At the moment (8:30), NBIX is trading at $50.90 per share after a gain of $9.42 per share or 22.71% thus far today.
NBIX Receives FDA Approval For Ingrezza
As mentioned above, Neurocrine Biosciences is having an incredible day in the market today after announcing that it has received FDA approval for Ingrezza (valbenazine). Ingrezza is a treatment the company designed to treat tardive dyskinesia. With the FDA approval, the company will now be able to market the treatment to the masses, and for investors, that’s incredibly exciting!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on NBIX. In particular, we’re interested in following the company through the commercialization process of Ingrezza. Considering the FDA approval and the large-unmet need for this treatment, this could prove to be a driver of incredible profits.
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