Neurocrine Biosciences, Inc. unveiled its plans to reduce 130 employees from its San Diego campus as a part of its restructuring programme to prioritise its research and development programs and associated costs and expenses after the setback on indiplon. Following these reductions, Neurocrine will have approximately 120 employees.
"It is with great disappointment that we have to make this difficult decision that will have such an effect on so many of our employees and their families. We are greatly saddened to move in this direction after our employees have continually demonstrated only the highest level of dedication and commitment. However, in order to meet our goals on other high priority programs, we have to refocus our resources as quickly as possible. I want to sincerely thank the departing employees for their tremendous efforts and wish them great success in the future," said Gary Lyons President & CEO.
"We will maintain our focus on determining the path forward with indiplon after interactions with the FDA, and our efforts on GnRH, as we move expeditiously toward partnering this program. We will also continue with focused research and development efforts aimed at treating diseases of the central nervous and endocrine systems. We intend to continue to conservatively manage our cash resources and review collaborative alternatives to fund the advancement of our pipeline," he added.
The company is preparing a formal meeting request to the FDA to discuss the 2007 Approvable Letter. We have notified FDA that we would be submitting this formal request.
Neurocrine Biosciences, Inc. is a biopharmaceutical company focused on neurological and endocrine diseases and disorders. The company's product candidates address some of the largest pharmaceutical markets in the world including insomnia, anxiety, depression, diabetes, irritable bowel syndrome, and CNS related disorders.