Neurocrine names Eiry Roberts chief medical officer as Sanjay Keswani departs

Neurocrine Biosciences changed its top medical seat Monday. The board appointed Eiry W. Roberts, M.D., to succeed Sanjay Keswani, M.D., as chief medical officer effective September 28, 2026, after Keswani and the board on September 25 mutually agreed his CMO service would end that day.

Keswani is entitled to severance benefits under Section 4.1 of Neurocrine's Executive Severance Plan effective February 7, 2025, subject to that plan's terms, the 8-K said. Neurocrine shares closed Monday at $140.44, up about 1.5% on the session and roughly flat year to date.

In connection with the appointment, Neurocrine said it will enter an amended and restated employment agreement with Roberts effective September 28. The agreement amends a prior amended employment agreement dated May 30, 2025, as amended November 21, 2025.

Under the new terms, Roberts will receive an annual base salary of $825,000 and be eligible for an annual cash incentive bonus with a target equal to 60% of base pay earned for calendar 2026. She is also set to receive equity grants with target values of about $625,000 in stock options (vesting monthly over four years), $250,000 in RSUs (vesting annually over four years), and $375,000 in performance-vesting RSUs, for roughly $1.25 million combined target equity value. Those grants are scheduled for two business days after Neurocrine's first Form 10-Q filing following the transition date, if she remains employed.

Neurocrine said it anticipates filing the final employment agreement with its Form 10-Q for the quarter ending September 30, 2026.

By the numbers

• Keswani CMO end date: September 25, 2026
• Roberts CMO effective: September 28, 2026
• Base salary: $825,000
• Target bonus: 60% of 2026 base pay earned
• Target equity on appointment: ~$1.25 million ($625k options / $250k RSUs / $375k PSUs)
• NBIX Monday close: $140.44 (+1.5% that session; roughly flat YTD)

Sources

1. Neurocrine Biosciences, Inc. Form 8-K (Item 5.02), accepted September 28, 2026 4:20:24 p.m. ET, accession 0000914475-26-000045 -

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