NPS Pharmaceuticals, Inc. reported fourth quarter 2012 net loss per share of 14 cents, wider than the Zacks Consensus Estimate of a loss of 9 cents and the year-ago loss of 10 cents. The wider loss was primarily attributable to higher expenses.
Fourth quarter 2012 revenues climbed 3.5% to $27.2 million. Revenues constitute of royalties as well as milestones and license fees. Revenues were below the Zacks Consensus Estimate of $29 million.
In the fourth quarter of 2012 research and development expenses were $24 million, up 11.1%. The increase was attributable to higher personnel-related expenses incurred during the final quarter of 2012. In 2012 general and administrative expenses were $11.2 million, up 55.5%.
Full year 2012 net loss per share was 22 cents compared with 45 cents of loss per share in 2011. The Zacks Consensus Estimate for 2012 hinted at a net loss of 16 cents per share. Revenues in 2012 increased 28.5% year over year to $130.6 million. Revenues for 2012 missed the Zacks Consensus Estimate of $134 million.
We note that the company received encouraging news during the final quarter of 2012 when the US Food and Drug Administration (FDA) approved Gattex® (teduglutide). The drug was cleared for the treatment of adults with short bowel syndrome (SBS), who are dependent on a parenteral support.
NPS Pharma is also developing Natpara (rhPTH[1-84]) for the treatment of adult hypoparathyroidism and expects to submit its Biologic License Application (BLA) to the FDA in the second half of 2013.
Total operating expenses, including share-based compensation are expected in the range $135 million to $145 million in 2013.
NPS carries a Zacks Rank #3 (Hold). Currently, companies like Lannett Company, Inc. (LCI - Snapshot Report) , SIGA Technologies, Inc. and United Therapeutics Corporation (UTHR - Analyst Report) look more attractive with a Zacks Rank #1 (Strong Buy).