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
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
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
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
Revenues in 2013 climbed 19.1% to $155.6 million
NPS Pharmaceuticals, Inc. (NPSP): Read the Full
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