By Ronda Fears
Nashville, Sept. 8 - NPS Pharmaceuticals Inc. priced a follow-on offering of 7 million shares of common stock off the shelf at $11.35 per share, discounted from Wednesday's closing level of $12.15, via bookrunner Lehman Brothers Inc.
Use of gross proceeds, which amounted to $79.45 million, was not designated.
Salt Lake City-based NPS Pharma has Preos and Calcilytic Compounds in phase III and I stage trials, respectively, which are to treat osteoporosis. Its Cinacalcet HCl is in phase II stage for hyperparathyroidism. Its Teduglutide is in phase II stage for short bowel syndrome or Crohn's. Its mGluR5 antagonists is in the preclinical stage for gastroesophageal reflux disease. Its Isovaleramide is in phase II stage to treat migraines. Its Delucemine is in phase I stage for depression. It also has metabotropic glutamate receptors in preclinical stage for psychiatric and neurologic disorders and pain. And, it has glycine reuptake inhibitors in preclinical stage for schizophrenia and dementia.
NPS Pharma has collaborative research, development or license agreements with Amgen Inc.; AstraZeneca AB; Janssen Pharmaceutical NV; GlaxoSmithKline plc, Kirin Brewery Ltd. and Nycomed Danmark ApS.
| Issuer: | NPS Pharmaceuticals Inc.
|
| Issue: | Follow-on stock offering
|
| Gross proceeds: | $79.45 million
|
| Shares: | 7 million shares
|
| Price: | $11.35 per share
|
| Bookrunner: | Lehman Brothers Inc.
|
| Pricing date: | Sept. 7
|
| Settlement date: | Sept. 13
|
| Ticker: | NPSP
|
| Stock price: | $12.15 at close Sept. 7
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
