Neurocrine reported Q2 2026 revenue of $959 million, up 39% year over year. Flagship Ingrezza sales rose 15% to $716 million, and management raised its full-year 2026 Ingrezza forecast to between $2.825 billion and $2.875 billion. Crenessity sales reached $184 million, up 247%, while Vykat XR, acquired from Soleno Therapeutics for about $2.9 billion, generated about $94 million in Q2; together the two drugs already run at more than $1 billion annualized. Late-stage trials for depression and schizophrenia candidates are expected to produce results in 2027. The author expects revenue above $6 billion by 2031, but says the stock's path will depend on newer drugs and how much investors are willing to pay for earnings.
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