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NPS Pharmaceuticals Inc.
Morris Corporate Center 1 4th Floor Building B
300 Interpace Parkway
Parsippany, NJ 07054
United States - Map
Phone: 973-394-8600
Fax: 973-316-6463
Web Site: http://www.npsp.com

DETAILS  
Index Membership: N/A
Sector: Healthcare
Industry: Biotechnology
Full Time Employees: 196


BUSINESS SUMMARY  
NPS Pharmaceuticals, Inc., a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutic small molecule drugs and recombinant proteins. Its products portfolio of approved drugs and product candidates are primarily used for the treatment of bone and mineral disorders, gastrointestinal disorders, and central nervous system disorders. The company's products for bone and mineral disorders include PREOS for the treatment of osteoporosis; Calcilytic Compounds, which are under Phase I clinical trail for the treatment of osteoporosis; and Cinacalcet HCl that completed Phase II clinical trial for the treatment of hypoparathyroidism. Its products for gastrointestinal disorders comprise Teduglutide, which is under Phase III clinical trail for the treatment of short bowel syndrome and under Phase II clinical trial for the treatment of Crohn's disease; and mGluRs antagonists, which are under preclinical trial for the treatment of gastroesophageal reflux disease. The company provides products for central nervous system disorders, such as mGluRs, which is under Phase I clinical trail for the treatment of psychiatric and neurologic disorders and pain; and glycine reuptake inhibitors that are in Phase I clinical trail for the treatment of schizophrenia and dementia. The company was founded in 1986 and is headquartered in Parsippany, New Jersey.

TOP STORIES.......


NPS Pharmaceuticals Announces
License Agreement with Nycomed for GATTEX
NPS Pharmaceuticals, Inc. (NPSP) and Nycomed announced that they
have entered into a definitive agreement which licenses to Nycomed the
rights to develop and commercialize GATTEX(TM) (teduglutide) outside
the United States, Canada and Mexico for the treatment of gastrointestinal
disorders. NPS will retain the right to develop and commercialize
GATTEX in North America. Under the terms of the agreement, NPS
has the potential to earn up to $185 million plus royalties. As an upfront
payment, NPS will receive from Nycomed $35 million: a $10 million nonrefundable
commitment fee upon signing the agreement and $25 million
within two weeks following the announcement of topline results from
the recently completed Phase 3 study of GATTEX in patients with short
bowel syndrome (SBS), which is expected early in the fourth quarter of
2007. Nycomed has the right to end the collaboration within two weeks
of the announcement of these results and forego the $25 million payment

Drug stocks mixed; NPS Pharma jumps on deal.

BOSTON (MarketWatch) -- Drug-stock benchmarks were mixed in midday action Tuesday, with shares of NPS Pharmaceuticals gaining after the company reported it sold its stake in a terminated drug project to AstraZeneca PLC for $30 million.

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AP
NPS Ends AstraZeneca Collaboration
Tuesday October 9, 10:40 am ET 
NPS Pharmaceuticals Gets $30 Million After Ending MGluRs AstraZeneca Drug Development Pact


BEDMINSTER, N.J. (AP) -- Shares of drug developer NPS Pharmaceuticals Inc. rose sharply Tuesday after the company said it ended a six-year partnership to develop drugs targeting metabotropic glutamate receptors with AstraZeneca.


The collaboration focused on developing central nervous system disorder treatments. NPS said the companies have generated several drug candidates for preclinical and early-stage development.

NPS will no longer provide research support or maintain interests in any drugs developed and marketed under the program. The company will instead focus on its late-stage pipeline products, including osteoporosis drug Preos and gastrointestinal disorders drug Gattex.

AstraZeneca will pay $30 million to acquire NPS's assets related to their research agreement.

"This strategic move creates investment flexibility for NPS and enables us to use the monies from this deal, the previously announced Nycomed Gattex deal and the approximately $10 million in savings over the next two years from this transaction to support the further development of our late-stage pipeline products," said Tony Coles, president and CEO of NPS.

Shares of NPS rose 74 cents, or 15.6 percent, to $5.50 in morning trading. Shares of AstraZeneca fell 50 cents to $51.76 in morning trading.

UPDATE 3-NPS: Nycomed to co-develop short bowel syndrome drug
Wed Oct 31, 2007 3:54pm EDT

BANGALORE, Oct 31 (Reuters) - NPS Pharmaceuticals Inc (NPSP.OB) said Swiss drug developer Nycomed confirmed its intention to develop and market NPS' short bowel syndrome drug outside North America, sending shares up as much as 20 percent.

Privately held Nycomed's decision follows mixed results from a late-stage trial of the drug, Gattex, earlier this month.

As per a licensing agreement signed in September, Nycomed had the option to forego a $25 million payment based on the trial results. On Wednesday, NPS said Nycomed will pay the fee.

Nycomed's decision signals that the drug warrants further development and there is a chance for the drug's approval by European regulators, J P Morgan analyst Richard Smith said by phone.

Besides, a cost-sharing structure in which both companies contribute 50 percent towards development, plus the upfront payment, is "likely to support NPS financially for further Gattex clinical studies," Oppenheimer analyst Jack Hu said in a note.

NPS was studying Gattex, which has orphan drug status, for the treatment of short bowel syndrome, a malabsorption disorder due to the removal of a part of the small intestine.

In a late-stage trial of the drug, a higher dosage of Gattex did not prove to be significantly better than a dummy drug. However, a lower dosage proved effective in treating short bowel syndrome in 46 percent of the patients.


The pre-defined criteria of the study had required the results for the high-dose group to show statistical significance before the results of the low-dose group could be considered.

However, NPS had subsequently said that it intended to meet with the U.S. Food and Drug Administration to discuss approval for Gattex, given its performance with the lower dosage and its orphan drug status.

ADDITIONAL TRIALS?

Uncertainty surrounds the drug's chances for approval by the FDA without additional trials.

"There are definitely signs of efficacy (with the drug) but the question is how will the FDA view it?" Smith said.

However, he added that there are grounds from previous trials to suggest the FDA would be willing to look at a singular study for approval, in cases of diseases that do not have much therapeutic options.

Currently, the only other approved drug for short bowel syndrome is Merck Serono's Zorbtive. The rest of the therapies are all supportive therapies, Smith said.

"We continue to expect an additional study in SBS is likely to be required for regulatory approval," Oppenheimer's Hu said.

"(Nycomed is) going to be meeting with the regulatory agency in Europe just as we will in the United States to determine whether another trial is required," NPS spokeswoman Brandi Simpson said by phone, adding NPS hopes to meet with the FDA before the end of the year.

Shares of the company rose to an intraday high of $4.64, before falling back to trade up 66 cents at $4.51 in afternoon trade on the Nasdaq, wiping out losses following the trial results on Oct. 11.



52wk Range: 3.25 - 6.36
Volume: 2,584,657
Avg Vol (3m): 957,439

Technicals
Close Above the 50-day MA
Close Above the 13-day MA
Gap Up
Percentage Gainer

Last Price Quote is:
9.32%above 13-day MA
2.98%above 50-day MA
RS Rating: 63 

Fundamentals
Earnings Expected on Nov 1

Key Data:
Market Cap (M): $187.84 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: 11/01/2007
Last Analyst Rating: Hold