Neurocrine Biosciences Announces Chief Financial Officer Timothy P. Coughlin To Step Down
SAN DIEGO, Dec. 21, 2016 /PRNewswire/ -- Neurocrine Biosciences, Inc. (NASDAQ: NBIX), a biotechnology company focused on neurological and endocrine related disorders, announced today that Timothy P. Coughlin will be stepping down from his position as Chief Financial Officer in mid-February for personal reasons. The Board has initiated a replacement search and Mr. Coughlin has agreed to continue with the Company through 2017 to facilitate a smooth transition of responsibilities.
"On behalf of the board, shareholders and our employees, I want to thank Tim for his over ten years of tireless service as CFO of Neurocrine," said Dr. Kevin C. Gorman, President and Chief Executive Officer of Neurocrine. "Tim has been a tremendous person to work with and a key part of the team, which orchestrated the turnaround of Neurocrine. I am very pleased that we will continue to work together through a transition period. Through his leadership we are in a strong financial position that allows us to continue to execute on our commercialization and clinical plans."
"Deciding to leave Neurocrine was an extremely difficult decision for me. I am incredibly proud of the biotechnology company we have built and the promising therapies the Company has and continues to develop," said Mr. Coughlin. "I look forward to working through transitioning to a new CFO, as well as the next evolution of Neurocrine."
About Neurocrine Biosciences
Neurocrine Biosciences, Inc. discovers and develops innovative and life-changing pharmaceuticals, in diseases with high unmet medical needs, through its novel R&D platform, focused on neurological and endocrine based diseases and disorders. The Company's two programs are elagolix, a gonadotropin-releasing hormone antagonist in Phase III development for women's health that is partnered with AbbVie Inc., and INGREZZA, a vesicular monoamine transporter 2 inhibitor for which an NDA has been filed with the FDA for the treatment of tardive dyskinesia, and is in Phase II development for patients with Tourette syndrome. Neurocrine plans to commercialize INGREZZA in the United States upon approval of the NDA by the FDA.
Neurocrine Biosciences, Inc. news releases are available through the Company's website via the internet at http://www.neurocrine.com.
In addition to historical facts, this press release may contain forward-looking statements that involve a number of risks and uncertainties. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with Neurocrine's business and finances in general, INGREZZA development and commercialization, the Company's R & D pipeline and the Company overall. Specifically, the risks and uncertainties the Company faces include risks that the Company's product candidates may not obtain regulatory approval or that the U.S. Food and Drug Administration or regulatory authorities outside the U.S. may make adverse decisions regarding the Company's product candidates; risks that clinical development activities may not be completed on time or at all; risks that clinical development activities may be delayed for regulatory or other reasons, may not be successful or replicate previous clinical trial results, may fail to demonstrate that our product candidates are safe and effective, or may not be predictive of real-world results or of results in subsequent clinical trials; risks that the Company's product candidates may be precluded from commercialization by the proprietary rights of third parties, or have unintended side effects, adverse reactions or incidents of misuse; risks associated with the Company's dependence on third parties for development, manufacturing and marketing activities; risks that the Company's research programs will not identify pre-clinical candidates for further development; risks that the Company will be unable to raise additional funding required to complete development of all of its product candidates; risk and uncertainties relating to competitive products and technological changes that may limit demand for the Company's products; and other risks described in the Company's quarterly report on Form 10-Q for the quarter ended September 30, 2016. Neurocrine disclaims any obligation to update the statements contained in this press release after the date hereof.
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SOURCE Neurocrine Biosciences, Inc.
