NPS Pharmaceuticals, Inc. (NASDAQ:NPSP), today announced that it has commenced an underwritten public offering of 6,000,000 shares of its common stock. All of the shares in the offering are to be sold by NPS. J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers for the proposed offering. NPS intends to grant the underwriters a 30-day option to purchase up to 900,000 additional shares of its common stock to cover over-allotments, if any. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. --updated 5/21 - NPS Pharmaceuticals, Inc. (NASDAQ:NPSP) today announced the pricing of an underwritten public offering of 6,000,000 shares of its common stock at a price of $14.53 per share to the public. All of the shares are being sold by NPS. The gross proceeds to NPS from this offering are expected to be approximately $87.2 million, before deducting underwriting discounts and commissions, and other estimated offering expenses payable by NPS. The offering is expected to close on or about May 24, 2013, subject to the satisfaction of customary closing conditions.
NPS Pharmaceuticals is a clinical-stage biopharmaceutical company focused on the development of orphan products for patients with rare gastrointestinal and endocrine disorders and unmet medical needs. Co.'s key clinical programs involve two proprietary therapeutic peptides to restore or replace biological function: Gattex® (teduglutide) and Natpara (recombinant human parathyroid hormone 1-84). In addition, Co. has two earlier stage calcilytic compounds, NPSP790 and NPSP795, both with potential application in rare endocrine disorders, as well as a royalty-based portfolio of marketed products and products in development.
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