Neurocrine Biosciences, Inc.

Filing receipts

“The increase in accounts receivable was primarily driven by higher total gross product sales, and to a lesser extent, timing of collections at the end of the first quarter of 2026.”

“Provision for Income Taxes Three Months Ended March 31, (dollars in millions) 2026 2025 Provision for income taxes $ 48.9 $ 6.8 Effective tax rate 19.8 % 46.3 % For the first quarter of 2026, the effective tax rate varied from the federal and state statutory rates primarily due to foreign tax effects, including the impact of net CFC tested income (NCTI) (formerly referred to as global intangible low-taxed income (GILTI)), credits generated for research activities, certain nondeductible expenses, and state income tax effects including fluctuations in state effective tax rates.”

“For the first quarter of 2025, the effective tax rate varied from the federal and state statutory rates primarily due to credits generated for research activities, certain nondeductible expenses, excess tax benefits related to stock-based compensation, fluctuations in state effective tax rates, and losses in foreign and domestic jurisdictions for which no tax benefit was recorded as management cannot conclude that it is more likely than not that the tax benefit of such losses will be realized in the future.”