NEUROCRINE BIOSCIENCES INC 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Issuer Purchases of Equity Securities The following table presents information relating to purchases of our common stock during the first quarter of 2025. Period Total Number of Shares Repurchased (1) (2) Average Price Paid Per Share (1) (2) Total Number of Shares Purchased as Part of Publicly Announced Program (1) (2) Dollar Value of Shares that May Yet Be Purchased Under the Program (1) (2) January 2025 — $ — — $ 59,481,180 February 2025 280,182 $ 212.29 280,182 $ 500,000,000 March 2025 1,355,967 $ 110.62 1,355,967 $ 350,000,000 1,636,149 $ 128.03 1,636,149 _________________________ (1) In October 2024, our Board of Directors authorized a share repurchase program to repurchase up to $300.0 million of our common stock (the 2024 Repurchase Program) and we subsequently entered into an accelerated share repurchase transaction with a third-party financial institution to repurchase the entirety of this authorized amount. In November 2024, we paid the financial institution $300.0 million using cash on hand and took initial delivery of 2.0 million shares. The 2024 Repurchase Program was completed in February 2025, at which time we received an additional 0.3 million shares upon settlement. In total, we repurchased 2.3 million shares under the 2024 Repurchase Program at an average price of $131.83 per share, which represents the daily volume-weighted average price of our common stock over the term of the transaction, less a negotiated discount. The average price paid per share for February 2025 was calculated as the implied dollar value of the forward stock purchase contract at inception of the 2024 Repurchase Program, or $59.5 million, divided by the additional shares received upon settlement. (2) In February 2025, our Board of Directors authorized a share repurchase program (the 2025 Repurchase Program) under which we may repurchase up to $500.0 million of our common stock, subject to market conditions. The 2025 Repurchase Program is in addition to the $300.0 million 2024 Repurchase Program that was announced in October 2024 and completed in February 2025. Under the 2025 Repurchase Program, share repurchases may be made from time to time at management's discretion through a variety of methods, such as open-market transactions including pre-set trading plans, privately negotiated transactions, accelerated share repurchases, and other transactions in accordance with applicable securities laws.