Neurocrine Biosciences Inc. (NASDAQ:NBIX) director Kevin Gorman reported a substantial sale of common stock valued at approximately $37.8 million on May 19, 2026. These transactions were conducted under the framework of a Rule 10b5-1 trading plan and included actions related to the exercise of stock options.
Specifically, Mr. Gorman sold 245,088 shares of Neurocrine Biosciences common stock. The weighted average price for these sales was determined to be $154.3318 per share. The disposal involved multiple transactions, with individual sale prices observed ranging from a low of $153.30 up to $156.59. Cumulatively, the total value generated from these stock dispositions reached $37,824,872.
Prior to executing the sales, Mr. Gorman had acquired 205,088 shares of common stock through the exercise of non-qualified stock options. The cost basis for this acquisition was $43.24 per share, resulting in a total recorded value of $8,868,005. These specific options were originally granted on February 6, 2017, and their vesting schedule involved forty-eight equal monthly installments beginning March 6, 2017, with an ultimate expiration date set for February 6, 2027.
Following the entirety of these reported activities, Mr. Gorman's direct holdings in Neurocrine Biosciences common stock amount to 511,293 shares. These outstanding shares are held by the Gorman and Blais Family Trust, a structure over which Dr. Gorman maintains both voting and investment authority.
Broader Company Context and Market Developments
The reported insider activity takes place against a backdrop of notable positive developments for Neurocrine Biosciences. The company recently released financial results for the first quarter of 2026, which significantly surpassed market expectations. Financially, Neurocrine posted earnings per share (EPS) of $1.94, considerably higher than the projected figure of $1.17, representing an earnings surprise of 65.81%. Furthermore, revenue also exceeded forecasts, reaching $811 million when analysts had anticipated $766.85 million.
In terms of strategic growth and market expansion, Neurocrine Biosciences finalized its acquisition of Soleno Therapeutics Inc. This transaction involved a cash tender offer valued at $2.9 billion, which successfully incorporated VYKAT XR into the company's product portfolio. Following the completion of this deal, Soleno now operates as a wholly owned subsidiary.
The positive trajectory has been acknowledged by external analysts. Specifically, Bernstein SocGen Group initiated coverage on Neurocrine with an