For the full year 2008, NPS reported a net loss of $31.8 million, or $0.67 per diluted share, compared to a net loss of $4.28 million, or $0.09 per diluted share, for the year 2007.
The company reported total revenues of $24.06 million for the fourth quarter of 2008, compared to $33.98 million for the same period of 2007. For the full year 2008, NPS reported total revenues of $102.28 million, compared to $86.25 million for the full year 2007.
Francois Nader, president and CEO of NPS Pharmaceuticals, said: “During 2008, NPS made great strides advancing our clinical programs and creating shareholder value. We managed our resources carefully, beat our revised 2008 cash burn guidance, successfully launched the steps and Replace studies, and ended the year with over $100 million in cash and investments. As we look ahead, we anticipate completing enrollment in the Replace and Steps studies within the next 12 months.
“Also, during the upcoming year, we will put the necessary agreements in place for our future commercial supply chain and begin the preparations for new drug application filings for both of these orphan indications. We will also evaluate opportunities to further strengthen our balance sheet. We have a number of potential sources of capital over the next two years including our royalty agreements and the monetization of non-core assets.”