NPS Pharmaceuticals, Inc. (NPSP): New Analyst Report from Zacks Equity Research - Zacks Equity Research Report

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Summary:
NPS Pharma's third quarter 2014 loss of $0.02 per share was wider than the year ago loss of $0.01 per share and the Zacks Consensus Estimate of earnings of $0.01 per share. Revenues increased 45.9% y-o-y to $57.2 million but missed the Zacks Consensus Estimate of $59.9 million. A key action date for the company is coming up in January when the FDA will decide on the approval status of Natpara (hypoparathyroidism). Chances of approval look high given the positive recommendation gained from the FDA's advisory panel. Natpara's approval will boost the company's top line and reduce its dependence on Gattex. We maintain a Neutral recommendation on the stock.

Overview:

Headquartered in Bedminster, NJ and founded in 1986, NPS Pharmaceuticals, Inc. is a biopharmaceutical company which focuses on developing and commercializing therapies for treating patients suffering from rare diseases.

NPS Pharma's sole marketed product is Gattex (teduglutide). The drug is available in the U.S. (since Feb 2013) as a subcutaneous injection for treating adults with short bowel syndrome (SBS), dependent on parenteral support. The U.S. label of the drug was updated in Jun 2014 to include long-term data from the STEPS 2 study.

Gattex was cleared in the EU in 2012 (European trade name: Revestive). NPS Pharma expects to commence pricing/reimbursement discussions with authorities in some EU countries during the year.


NPS Pharma expects to add another product Natpara (rhPTH [1-84]) to its portfolio later in the year. The company is looking to get Natpara, which has been granted orphan drug status in the U.S. and EU, approved for treating hypoparathyroidism. The candidate is currently under review in the U.S. A decision from the FDA on Natpara is expected by Oct 24, 2014. In 2013, NPS Pharma regained the worldwide rights to Revestive and rhPTH 1-84 from Takeda. Takeda marketed rhPTH 1-84 under the brand name Preotact for the treatment of osteoporosis in some of its licensed territories.

NPS Pharma's pipeline also includes NPSP795 (autosomal dominant hypocalcemia). NPS Pharma intends to make significant efforts to advance the development of the candidate during the course of the year.

Revenues in 2013 climbed 19.1% to $155.6 million


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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Stocks

Referenced Stocks: SBS , NPSP

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