Why Neurocrine Biosciences (NBIX) Shares Are Trading Lower Today - Neurocrine Biosciences (NASDAQ:NBIX)

Neurocrine Biosciences Inc's NBIX NBI-827104 did not meet its primary endpoint in the Phase 2 STEAMBOAT study compared to placebo in pediatric patients with epileptic encephalopathy with continuous spike-and-wave during sleep (EE-CSWS).
The primary endpoint was a reduction from baseline in the spike-wave index (SWI) ratio when measured after six weeks of study treatment.
Related: Neurocrine Biosciences Buys UK-Based Hormone Therapy Player.
The SWI measures the percentage of sleep affected by epileptic activity.
NBI-827104, an investigational brain-penetrating T-type calcium channel blocker, was generally well tolerated.
William Blair's Take: Despite this disappointing update, the analyst views Neurocrine as a strong growth performer with significant potential in its growing Ingrezza franchise.
This miss adds to a slew of recent pipeline misses. Still, William Blair believes there is much to like about specific assets remaining. The analyst reiterates Outperform rating on Neurocrine.
Price Action: NBIX shares closed 4.54% lower at $114.75 during after-hours trading on Tuesday.

Despite Neurocrine's Epilepsy Drug Missing Primary Goal In Pediatric Trial, Analyst Sees Strong Growth