NPS Pharmaceuticals proposes underwritten public offering of common stock

NPS Pharmaceuticals, Inc. (Nasdaq: NPSP) (the "Company") today announced that it intends to offer, subject to market and other conditions, 7,500,000 shares of its common stock in an underwritten public offering. In connection with this offering, the Company expects to grant to the underwriters a 30-day option to purchase up to an additional 1,125,000 shares of common stock to cover overallotments, if any. All of the shares are being offered by the Company. Canaccord Adams is acting as sole book-running manager and Needham & Company, LLC and Summer Street Research Partners are acting as co-managers for the offering.

The securities described above are being offered by the Company pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission. A prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission. 

SOURCE NPS Pharmaceuticals, Inc.