Why Neurocrine Biosciences Shares Fell Nearly 10% Today

Shares of biopharma Neurocrine Biosciences (NASDAQ:NBIX×​) were down 9.8% in Tuesday's late trading following a disappointing third-quarter report.

For the three-month stretch ending in September, Neurocrine turned $296 million in revenue into an operating profit of $0.64 per share. The top line dramatically improved on COVID-crimped numbers from the same quarter a year earlier, when the company lost $0.18 per share on sales of $258.5 million. On the basis of generally accepted accounting principles (GAAP), however, profits of only $0.23 per share left the market wanting more, and arguably concerned.