Neuroscience-focused biopharmaceutical company Neurocrine Biosciences Inc (Nasdaq:NBIX) revealed on Monday that its Phase 2 study assessing the efficacy, safety and tolerability of investigational compound NBI-1070770 in adults with major depressive disorder did not meet the primary endpoint compared to placebo.

Neurocrine Biosciences noted that NBI-1070770 was generally well tolerated in the study.

"While we are disappointed that NBI-1070770 did not meet the primary endpoint, there are aspects of the data that warrant further exploration," commented Sanjay Keswani, M.D., chief medical officer of Neurocrine Biosciences. "Our team will continue to analyse these results so we can determine appropriate next steps."

NBI-1070770 is an investigational selective, and orally active, negative allosteric modulator (NAM) of the NR2B subunit-containing N-methyl-D-aspartate (NMDA NR2B) receptor.

The study involved 73 adult patients with a diagnosis of major depressive disorder with inadequate response to at least one antidepressant in their current episode of treatment.

Neurocrine Biosciences acquired the rights to develop and commercialise NBI-1070770 from Japan's Takeda Pharmaceutical Company Ltd (TSE:4502) (NYSE:TAK).