Neurocrine Biosciences Inc. (Nasdaq: NBIX) Friday announced its net income for the fourth quarter of 2012 rose to $9.5 million or $0.14 per fully diluted share, compared to net income of $1.3 million, or $0.02 per fully diluted share, for the same period in 2011.
For the year ended Dec. 31, 2012, the Neurocrine reported net income of $5 million, or $0.08 per fully diluted share, as compared to net income of $37.6 million, or $0.67 per fully diluted share, for 2011. One-time milestone payments of $30 million during 2011 were primarily responsible for the change in operating results year over year.
The company's balance sheet at Dec. 31, 2012, reflected total assets of $196 million, including cash, investments and receivables of $188.3 million compared with balances at Dec. 31, 2011 of $138.4 million and $131.7 million, respectively.
During January 2012, the Neurocrine completed a public offering of approximately 10.9 million shares of common stock that resulted in net proceeds of approximately $83 million.
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