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NPS Pharmaceuticals Reports Third Quarter 2007 Financial Results, Revises Financial Guidance
Date:11/1/2007

third quarter of 2007 were $1.0 million compared to $2.2 million for the same period in the prior year. Restructuring charges in 2007 relate primarily to initiatives to restructure operations announced in March 2007 while restructuring charges in 2006 related to initiatives to restructure operations announced in June 2006.

In the third quarter of 2007, NPS sold its rights to the PREOTACT royalty to Drug Royalty Corporation for $50 million up-front with an additional $25 million to be paid upon the achievement of certain revenue milestones. Although the sale is non recourse, under U.S. generally accepted accounting pronouncements this transaction will be treated as debt. NPS also issued $100 million of non recourse Sensipar backed B bonds, and issued $50 million of new 5.75% convertible debt due 2014. In the third quarter, NPS repurchased $20.2 million of 3% Convertible Notes due 2008 for $19.5 million.

As of September 30, 2007, the company had 46.4 million shares outstanding and $302.2 million in cash, cash equivalents and marketable investment securities as compared to $146.2 million at December 31, 2006.

NPS PHARMACEUTICALS, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Operations

(In thousands, except per share data)

(Unaudited)

Three Months Ended Nine Months Ended

September 30, September 30,

2007 2006 2007 2006

Revenues $29,161 $10,071 $52,267 $24,436

Operating expenses

Cost of goods sold 823 536 2,875 902

Cost of royalties 1,228 796 3,363 1,954

Research and

development 5,400 13,692 28,121 55,076

Selling, general

and administrative 5
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SOURCE NPS Pharmaceuticals, Inc.
Copyright©2007 PR Newswire.
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