SAN DIEGO, June 2, 2015 /PRNewswire/ -- Neurocrine
Biosciences, Inc. (NASDAQ: NBIX) today announced that Eric Benevich has joined the company as Chief
Commercial Officer.
"We are very pleased to welcome Eric to the Neurocrine team as
our Chief Commercial Officer," said Kevin
Gorman, President and Chief Executive Officer of Neurocrine
Biosciences. "Eric's marketing expertise, experience in neurology
and psychiatry and proven pharmaceutical commercial track record
will be vital to Neurocrine as we approach both the anticipated NDA
filing and launch of NBI-98854 for the treatment of tardive
dyskinesia as well as the subsequent life cycle management to
maximize NBI-98854's commercial potential."
Mr. Benevich was most recently at Avanir Pharmaceuticals as Vice
President of Marketing where he was responsible for NUEDEXTA® and
commercialization of their CNS pipeline. He has over twenty years
of previous experience in the pharmaceutical industry with
Peninsula Pharmaceuticals, Amgen and AstraZeneca in the sales and
marketing of drugs such as Enbrel®, Epogen® and Prilosec®. Eric has
a BBA in international business from Washington State University.
Neurocrine also announced the grant of an inducement award to
Mr. Benevich pursuant to Rule 5635(c)(4) of the NASDAQ Listing
Rules. In connection with his employment with Neurocrine, Mr.
Benevich was granted an inducement award consisting of a stock
option to purchase 60,000 shares of Neurocrine common stock. The
stock option will vest over a period of four years, with 25%
vesting on the first anniversary of the grant date and the balance
vesting each month over the remaining three years. Mr. Benevich
also received 25,000 restricted stock units which vest in full
after three years of continuous service. These awards are subject
to the terms and conditions of Neurocrine's Inducement Plan. These
awards were effective on June 1,
2015, the first business day of the first calendar month
following the commencement of his employment with Neurocrine, and
the stock option has an exercise price of $41.78 per share, which was the closing price of
Neurocrine's common stock on the NASDAQ Global Select Market on
that date. The award was granted as an inducement material to Mr.
Benevich's employment pursuant to Rule 5635(c)(4) of the NASDAQ
Listing Rules.
About Neurocrine Biosciences
Neurocrine Biosciences, Inc. discovers and develops innovative
and life-changing pharmaceuticals, in diseases with high unmet
medical needs, through its novel R&D platform, focused on
neurological and endocrine based diseases and disorders. The
Company's two lead late-stage clinical programs are elagolix, a
gonadotropin-releasing hormone antagonist for women's health that
is partnered with AbbVie Inc., and NBI-98854, a vesicular monoamine
transporter 2 inhibitor for the treatment of movement disorders.
Neurocrine intends to maintain certain commercial rights to its
VMAT2 inhibitor for evolution into a fully-integrated
pharmaceutical company. Neurocrine Biosciences, Inc. news
releases are available through the Company's website via the
internet at http://www.neurocrine.com.
In addition to historical facts, this press release may
contain forward-looking statements that involve a number of risks
and uncertainties. Among the factors that could cause actual
results to differ materially from those indicated in the
forward-looking statements are risks that regulatory submissions
may not occur or be submitted in a timely manner; risks that our
product candidates may not obtain regulatory approval or may be
precluded from commercialization by the proprietary rights of third
parties; and other risks described in the Company's quarterly
report on Form 10-Q for the quarter ended March 31, 2015. Neurocrine disclaims any
obligation to update the statements contained in this press release
after the date hereof.
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SOURCE Neurocrine Biosciences, Inc.