JPMorgan analyst Anupam Rama raised his price target for Neurocrine Biosciences to $66 ahead of the company's KINECT 3 study results of NBI-98854 for tardive dyskinesia. The data are the most important catalyst for Neurocrine for the remainder of 2015, Rama tells investors in a research note. After speaking with physicians who treat tardive dyskinesia, as well as payors, the analyst has "grown increasingly confident" on the likelihood of both clinical and commercial success with NBI-98854. Rama reiterates an Overweight rating on Neurocrine.

Voyager Therapeutics (VYGR) announced that the joint steering committee with its collaborator Neurocrine Biosciences (NBIX) has selected a lead development candidate in the GBA1 gene therapy program for the potential treatment of Parkinson's disease and other GBA1-mediated diseases. The candidate combines a GBA1 gene replacement payload with an intravenously administered, blood-brain barrier penetrant, novel capsid derived from Voyager's TRACER capsid discovery platform. The companies expect to file an Investigational New Drug application with the FDA for the program in 2025. Selection of the development candidate triggered a $3 million milestone payment to Voyager, which the Company expects to receive in the second quarter of 2024. Voyager is eligible to receive additional future development and commercialization milestone payments based on the further advancement of this program. The GBA1 program is being developed under the 2023 strategic collaboration agreement between Voyager and Neurocrine Biosciences for research, development, manufacture, and commercialization of certain AAV gene therapy products for programs targeting Parkinson's disease and other GBA1-mediated diseases and three other undisclosed programs to address central nervous system diseases or conditions associated with rare genetic targets. Under the terms of the 2023 collaboration agreement, Voyager is eligible to receive up to $1.5 billion in potential development milestone payments, as well as additional commercial milestone payments, tiered royalties on net sales, and program funding. Voyager maintains an option to elect 50/50 cost- and profit-sharing in the U.S. for the GBA1 program following topline data from the first Parkinson's disease clinical trial.