Boston, MA 01/01/2014 (wallstreetpr) – NPS Pharmaceuticals, Inc. (NASDAQ:NPSP) has continued soaring and in the last week it rose by an additional 10%. Year-to-date, the company’s shares have climbed 225%. They got this kind of a boost mainly due to the commercial launch of NPS Pharmaceuticals, Inc (NASDAQ:NPSP)’s Gattex, its orphan-drug for short bowel syndrome. The U.S Food Drug Administration approved Gattex in 2012 and the launch took place in 2013 February.
Currently, the company is right in line to generate approximately $30-$40M in its 1st year in the market. A major portion of NPS Pharmaceuticals, Inc (NASDAQ:NPSP)’s revenue is accounted for by the royalty payments that it receives for products that it has licensed out to Takeda Pharmaceuticals and Amgen Inc.
The projection is that NPS Pharmaceuticals, Inc (NASDAQ:NPSP) will generate approximately $130M in its total revenue in 2013. Currently the company’s’ market capitalization has broken through the $3B mark. What is significant is that the in 2013, there was actually a drop in the company’s sales in comparison to the same period a year ago. Analysts are saying that investors are probably looking forward to the possible FDA approval of Natpara, NPS Pharmaceuticals, Inc (NASDAQ:NPSP)’s next orphan-drug which might come in 2014. This drug is used for the treatment of hypoparathyroidism. It is relevant to note the company’s progress in the market.
Tuesday’s trading
In Tuesday’s trading session there was a rise of 1.10% in NPS Pharmaceuticals, Inc (NASDAQ:NPSP). The shares opened at $29.90, climbed to an intraday high of $30.65 and closed at $30.36. Close to 1.25M shares were traded in the Tuesday session and the average volume of 1.68M shares got traded over a period of 30 days. The 52-week low of NPS Pharmaceuticals, Inc (NASDAQ:NPSP) shares is $7.35 while the 52-week high stands at $35.72. The company has a market capitalization of $3.10 billion.
