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NPS Pharmaceuticals Reports 2007 Financial Results
Date:3/13/2008

nt and chief executive officer of NPS, stated: "After implementing a new business plan in 2007, raising significant capital and obtaining regulatory clarity from the FDA, NPS now has the direction, the resources, and the capabilities to develop its products in specialty indications with high unmet medical needs, including short bowel syndrome and hypoparathyroidism. With a two to three year cash runway, I am confident that NPS is well-positioned to advance its pipeline and achieve commercial success."

2007 Accomplishments

During 2007, NPS reported the following accomplishments:

-- Refocused its business on specialty indications for gastrointestinal

and endocrine disorders with high unmet medical need

-- Raised more than $275.0 million through the issuance of royalty-backed

and convertible notes and the monetization of non-core assets

-- Achieved net operating cash inflow of $27.6 million for 2007 as

compared to a net operating cash outflow of $103.9 for 2006

-- Retired $191.0 million in convertible debt due in 2008

-- Completed a Phase 3 study of GATTEX(TM) (teduglutide) in short bowel

syndrome (SBS) patients who are dependent on parenteral nutrition (PN)

-- Secured an ex-North America partnership for GATTEX with Nycomed

-- Defined a clinical strategy and obtained orphan drug status for NPSP558

(parathyroid hormone 1-84 [rDNA origin injection]) as a potential

therapy for hypoparathyroidism

Francois Nader, M.D., chief executive officer-elect, stated: "We are committed to executing an ambitious clinical program in 2008. The top-line results from our Phase 3 extension study of GATTEX in patients with short bowel syndrome support our plans to initiate a confirmatory Phase 3 study of GATTEX in this indication in the third quarter of this year. We also expect to launch a pivotal trial for our PTH 1-84 compound, NPSP558, in patients with hypoparathy
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SOURCE NPS Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
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