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NPS Pharma Reports First-Quarter 2014 Financial Results
Net global Gattex®/Revestive® sales of $18 million representing 17 percent sequential growth
Full-year net sales guidance revised to $100 to $110 million from $110 to $120 million to reflect impact of delays in January and February sales
Natpara® BLA review continues to progress with PDUFA date of October 24, 2014
Conference call today at 8:30 AM ET
BEDMINSTER, N.J.--(BUSINESS WIRE)--May 8, 2014--NPS Pharmaceuticals, Inc. (NASDAQ:NPSP), a biopharmaceutical company pioneering and delivering therapies that transform the lives of patients with rare diseases worldwide, today reported its results for the quarter ended March 31, 2014.
NPS Pharma reported net global product sales of $17.9 million for the first quarter of 2014, compared to $0.7 million for the same period last year, representing 17% sequential growth over net sales in the fourth quarter of 2013. The company experienced a slower-than-expected start in adding new Gattex® (teduglutide [rDNA origin]) patients and refills in the U.S. NPS Pharma now expects to achieve full-year 2014 net sales guidance of $100 to $110 million, representing more than 200 percent year-over-year growth in the company’s Short Bowel Syndrome (SBS) franchise.
“We are pleased to report that physician and patient interest in Gattex continues to be very high,” said Francois Nader, MD, president and chief executive officer of NPS Pharma. “After a challenging January and February, which were partially affected by severe winter weather, we saw key metrics bounce back for prescriptions in March and April with weekly averages exceeding those in the fourth quarter. In addition, we noted significant improvements in the time-to-dispense and fill-rate of new prescriptions in 2014. As we continue to learn more about the SBS market dynamics, we are readily adapting our commercial strategy and operations to ensure we fully capture the significant opportunity that Gattex represents, including increasing the size of our sales organization.”
Dr. Nader added: “We are interacting with the FDA as they actively review our Natpara Biologics License Application and preparing for an FDA Advisory Committee meeting, which has been tentatively scheduled for July 24. We are also happy to report that our regional and key country leadership is in place to support the expansion of NPS Pharma in key international markets. Lastly, we are focused on expanding our pipeline through our clinical program for pediatric Short Bowel Syndrome and the recent filing of an Investigational New Drug Application for NPSP795, which is on track to begin a Phase 2a study in mid-2014.”
The following information was filed by Nps Pharmaceuticals Inc (NPSP) on Thursday, May 8, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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