SAN DIEGO, Nov. 20, 2017 /PRNewswire/ -- Neurocrine
Biosciences, Inc. (NASDAQ: NBIX), a biotechnology company focused
on neurological and endocrine related disorders, today announced
that Matt Abernethy is joining the
executive management team as Chief Financial Officer (CFO).
"We are very pleased to welcome Matt Abernethy to the
Neurocrine team as our Chief Financial Officer," said Kevin Gorman, Ph.D., Chief Executive Officer of
Neurocrine Biosciences. "Matt's strong background in commercial
finance and investor relations will be vital to Neurocrine as we
continue to execute on our commercialization and clinical plans in
support of our commitment to relieve patient suffering and enhance
lives."
Abernethy has nearly 15 years of experience in the
financial sector and investor relations with expertise in the
healthcare industry. He joins Neurocrine from Zimmer Biomet,
where he held various positions over the past nine years including
Vice President, Investor Relations and Treasurer and Vice President
of Finance for the Americas and Global Product Engines. Abernethy
earned bachelor's degrees in Accounting and Business Administration
from Grace College and an MBA from the
University of Chicago. He began his
career with KPMG LLP and is a certified public accountant.
In December 2016, Neurocrine
announced plans for Timothy P.
Coughlin to step down as the Chief Financial Officer in
2017. Coughlin has remained with Neurocrine through this transition
period and will continue with the Company into 2018 to facilitate a
smooth transition.
Neurocrine also announced the grant of an inducement award to
Abernethy pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules.
In connection with his employment by Neurocrine, Abernethy will be
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 its grant date and the balance vesting each
month over the remaining three years. Abernethy also received
12,500 restricted stock units which vest in equal increments over
four years, with 25% vesting each year. These awards are subject to
the terms and conditions of Neurocrine's Inducement Plan, and will
be effective on December 1, 2017,
which is the first day of the first calendar month following the
commencement of Abernethy's employment with Neurocrine. The stock
option grant will have an exercise price equal to the closing price
of Neurocrine's common stock on the NASDAQ Global Select Market on
that date. These awards were granted as an inducement material to
Abernethy's employment pursuant to Rule 5635(c)(4) of the NASDAQ
Listing Rules.
About Neurocrine Biosciences, Inc.
Neurocrine
Biosciences is a San Diego based biotechnology
company focused on neurologic, psychiatric and endocrine related
disorders. The Company markets INGREZZA® (valbenazine)
capsules in the United States for the treatment of adults
with tardive dyskinesia. INGREZZA is a novel, selective
vesicular monoamine transporter 2 (VMAT2) inhibitor, and is the
first FDA approved product indicated for the treatment of adults
with tardive dyskinesia. The Company's three late-stage
clinical programs are: elagolix, a gonadotropin-releasing hormone
antagonist for women's health that is partnered with AbbVie
Inc.; opicapone, a novel, once-daily, peripherally-acting,
highly-selective catechol-o-methyltransferase inhibitor under
investigation as adjunct therapy to levodopa in Parkinson's
patients; and INGREZZA, a novel, once-daily, selective VMAT2
inhibitor under investigation for the treatment of Tourette
syndrome.
Neurocrine Biosciences, Inc. news releases are available through
the Company's website via the internet at
http://www.neurocrine.com.
Forward-Looking Statements
In addition to
historical facts, this press release contains 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
and uncertainties associated with Neurocrine's business and
finances in general as well as risks and uncertainties associated
with the commercialization of INGREZZA; risks and uncertainties
relating to competitive products and technological changes that may
limit demand for INGREZZA; risks associated with the Company's
dependence on third parties for development and manufacturing
activities related to INGREZZA and the ability of the Company to
manage these third parties; risks that the FDA or other regulatory
authorities may make adverse decisions regarding INGREZZA; risks
that INGREZZA clinical trials may not be predictive of real-world
results or of results in subsequent clinical trials; risks that
INGREZZA may be alleged to infringe upon the proprietary rights of
third parties, or have unintended side effects, adverse
reactions or incidents of misuse; and other risks described in the
Company's periodic reports filed with the Securities and Exchange
Commission, including without limitation the Company's Quarterly
Report on Form 10-Q for the quarter ended September 30, 2017. The Company disclaims any
obligation to update the statements contained in this press release
after the date hereof.
View original
content:http://www.prnewswire.com/news-releases/neurocrine-biosciences-appoints-matt-abernethy-as-chief-financial-officer-300559631.html
SOURCE Neurocrine Biosciences, Inc.