Neurocrine Biosciences buys back more 2.25% convertibles due 2024

By Rebecca Melvin

Concord, N.H., June 1 – Neurocrine Biosciences Inc. repurchased about $31.4 million principal amount of its 2.25% convertible senior notes due 2024 in separate, privately negotiated transactions with certain holders of the notes on May 31, according to an 8-K filed with the Securities and Exchange Commission.

The purchase price was about $41.5 million, including accrued interest, and the transactions are expected to close June 2.

The latest repurchases were in addition to an earlier buyback. According to a May 25 company news release, Neurocrine had repurchased $179.4 million principal amount of the notes during the month.

The biopharmaceutical company is based in San Diego.

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