Investors in Neurocrine Biosciences ( NBIX) are about to find out if there's anything left to say about a company whose most promising product has been stalled by federal regulators, seen its stock vaporized and watched its Big Pharma partner bid farewell. On Monday, the company will issue its second-quarter financial report after the market closes, but the numbers will be of secondary importance. Shareholders of Neurocrine, which has no commercial products, will be instead focusing on what executives have to say about the future, because those still around have been left reeling by events that have knocked 80% off the stock since mid-May. The Food and Drug Administration delayed approving an immediate-release version of the insomnia drug Indiplon and rejected a long-acting version of the drug. Neurocrine says it will need to conduct more clinical trials for the long-acting pill, and that it might need more tests for the immediate-release version. The FDA ruling also convinced Pfizer ( PFE) to bail out of its marketing partnership with Neurocrine, even though it had already spent more than $400 million . Analysts bailed, too. Between mid-May and late June, 10 of them downgraded the stock. "There is an increased likelihood that Indiplon never sees the light of day, either because of the continued poor execution by Neurocrine's management or because the company, Pfizer and the FDA have all seen a serious safety or efficacy limitation that has so far not been disclosed to investors," Geoffrey Porges, a Sanford Bernstein analyst, wrote in a research report after Pfizer cut ties. That's his worst-case scenario -- and he's the only Neurocrine bull. Another 18 analysts are divided between hold and sell ratings, according to Thomson First Call. What everyone wants are details from Neurocrine about how fast the company will spend its available cash and what it must do to satisfy the FDA's concerns about Indiplon. "The question is whether current management can effectively avoid the complete disappearance of the company," Porges adds.