NPS Pharmaceuticals Reports $25.6m Q2 Revenue

NPS Pharmaceuticals has reported net income of $2.6 million or $0.05 per diluted share, for the second quarter of 2009, compared to net income of $1.2 million or $0.03 per diluted share, for the second quarter of 2008.

For the six month ended period, the company reported a net income of $8.1 million or $0.17 per diluted share, compared to $11.8million or $0.25 per diluted share for the same period an year ago.

The company’s total revenues was $25.6 million for the second quarter, compared to $26.9 million for the previous year quarter. Operating income was $14.1 million as compared to $16.3 million.

For the six month ended, the total revenue was $41.9 million, as compared to $52.1 million for the same period an year ago. The operating income was $19.7 million, as compared to $21.4 milllion for the same period an year ago.

Francois Nader, president and chief executive officer of NPS Pharmaceuticals, said: “We continue to be proactive in managing the business to ensure we deliver on our stated objectives. Our timelines for completing enrollment in the STEPS and REPLACE studies before the end of the first quarter of 2010 are on track as are our preparations for regulatory review and commercialization of these product candidates.

In addition, we are aggressively managing our burn and our cash position remains strong. We are actively evaluating multiple opportunities to further strengthen our balance sheet and the financing facility we announced today adds to our potential suite of options for raising new capital,” he added.