The buyer and seller were not immediately available for comment,but a public filing by Neurocrine reveals that the firm will sign a10-year lease to stay in the properties, including its 94,000-sfheadquarters property located at 10555 Science Center Dr. Companydocuments reveal Neurocrine "will receive cash of approximately $60million net of fees, expenses and existing indebtedness."

The initial agreement provides options for Neurocrine torepurchase all of the properties. In a released statement, companyCFO Timothy P. Coughlin said owning the properties had been a"profitable strategy for the company and our shareholders." Headded that the sale would allow the firm to improve its financialposition … (providing) us with the financial flexibility to advanceour clinical and research programs and build equity in ourpipeline."

It was a busy day for the firm as it released its Q3 results.The company reported a net loss of $27.2 million, or $0.72 loss pershare compared to net loss of $39.1 million, or $1.03 loss pershare, for the same period last year. For the nine months endedSeptember 30, 2007, the company reported a net loss of $79.3million, or $2.09 loss per share compared to net loss of $92.5million, or $2.46 loss per share, for the same period in 2006.Company officials said, "the decrease in revenues for the three-and nine-month periods is primarily due to the cancellation of ourcollaboration agreement with Pfizer."