NPS amends terms of $40 million loan, cuts amount by $36.5 million

By Devika Patel

Knoxville, Tenn., Sept. 16 - NPS Pharmaceuticals Inc. amended a $40 million 18-month committed equity financing facility with Azimuth Opportunity Ltd. on Sept. 15, according to an 8-K filed Thursday with the Securities and Exchange Commission.

The facility was negotiated on Aug. 5, 2009.

The company notified Azimuth that it was reducing the agreement's limit by $36.5 million. It may choose to make further changes to the facility.

NPS is a biopharmaceutical company based in Parsippany, N.J.

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