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- Doj Civil Investigative Demand On Ingrezza Sales And Marketing (new) — Received August 2025; company is cooperating but timing and outcome are uncertain, creating regulatory overhang on the flagship product.
- Assumed Soleno Securities Class Action (new) — Putative class action filed March 2026 against Soleno (pre-acquisition) alleging securities law violations; defense or adverse resolution could result in substantial costs or settlement payments.
- Mfn Pricing And Obbba Legislation (unchanged) — Multiple 2025-2026 executive orders and proposed CMS regulations could impose Most-Favored Nation pricing on Medicare Part D/B and reduce insured population, threatening revenue and reimbursement.
NBIX revenue +40% to $959M on CRENESSITY ramp and $2.9B Soleno acquisition adding VYKAT XR
Filed July 31, 2026 · Period ending June 30, 2026 · Compared to 10-Q Jul 30, 2025 · ~2 min read
Key Changes
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Acquired Soleno Therapeutics for $2.9B in May 2026, adding VYKAT XR (first FDA-approved treatment for hyperphagia in Prader-Willi syndrome) and contributing $54.3M in Q2 sales. Cash position fell $2.1B to $482M after funding the acquisition.
MD&A: Soleno acquisition verify on EDGAR → -
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Total revenue grew 39.5% YoY to $959M driven by CRENESSITY launch ramp ($336.8M six-month sales vs. $67.7M prior year), INGREZZA volume growth (+17.4% YoY to $1.37B six-month), and VYKAT XR addition.
MD&A: Revenue growth verify on EDGAR → -
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Operating income rose 4% YoY to $151.5M despite $125.6M in acquisition-related expenses (including $60.1M accelerated Soleno stock-based compensation). Six-month operating income more than doubled to $344.9M.
MD&A: Operating income verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 3, 2026 · How we verify