The estimated value of NPS's remaining ARS investments totaled $28.4 million at December 31, 2007, which reflects a $1.3 million reduction in the principal value of $29.7 million. These ARS investments are all AAA rated and NPS believes the declines are temporary in nature. Accordingly the decrease in the estimated market value was recorded in the accumulated other comprehensive loss section of the company's balance sheet. In addition, because the auctions associated with these ARS investments have been unsuccessful for the past several months, these ARS investments were reclassified to non-current assets during the fourth quarter of 2007. Excluding the ARS investments the company is selling, as of February 29, 2008, the estimated value of the remaining ARS investments was $26.4 million.
Conference Call Information
NPS will host a conference call beginning today at 5:00 pm Eastern Time. To participate in the conference call, dial (866)510-0708 and use pass code 19613979. International callers may dial (617)597-5377, using the same pass code. In addition, a live audio of the conference call will be available over the Internet. Interested parties can access the event through the NPS website, http://www.npsp.com.
For those unable to participate in the live call, a replay will be available at (888) 286-8010, with pass code 39947050, until midnight Eastern Time, March 28, 2008. International callers may access the replay by dialing (617) 801-6888, using the same pass code. The webcast will also be available through the NPS website for the same period.
About NPS Pharmaceuticals
|SOURCE NPS Pharmaceuticals, Inc.|
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