Neurocrine down on Phase IIb Tourette syndrome miss

Neurocrine Biosciences Inc. (NASDAQ:NBIX) lost $11.93 (14%) to $73.83 on Wednesday after it said valbenazine missed the primary endpoint in the Phase IIb T-Force GOLD trial to treat Tourette syndrome. The move translates to a loss in market cap of almost $1.1 billion.