NPS Pharmaceuticals Q3 net loss decreases

Fri. November 06, 2009; Posted: 05:03 AM

Nov 06, 2009 (Datamonitor via COMTEX) -- NPSP | Quote | Chart | News | PowerRating -- NPS Pharmaceuticals, a US-based pharmaceutical company, has reported a net loss of $7.77 million or $0.16 per diluted share, for the third quarter ended September 30, 2009, compared to $11.36 million or $0.24 per diluted share, for the third quarter ended September 30, 2008.

Total revenues were $20.12 million for the third quarter of 2009, compared to $26.07 million for the same quarter of 2008.

Net loss for the nine months ended September 30, 2009 was $15.88 million, or $0.33 per diluted share, compared to $23.25 million, or $0.49 per diluted share, for the nine months ended September 30, 2008.

Total revenues were $62.1 million for the nine months ended September 30, 2009, compared to $78.21 million, for the prior-year period.

Francois Nader, president and CEO of NPS Pharmaceuticals, said: "We continue to aggressively manage our cash burn. Additionally, we have made strong progress advancing the Steps study for teduglutide in short bowel syndrome and continue to expect full enrollment by the end of next quarter. We also held a pre-investigational new drug meeting with FDA to discuss a path forward for developing teduglutide for chemotherapy-induced gastrointestinal mucositis."

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