NPS jumps on Gattex numbers, guidance

NPS Pharmaceuticals Inc. (NASDAQ:NPSP) jumped $4.59 (25%) to $22.69 on Friday after the company reported 2Q13 sales of Gattex teduglutide that beat the Street's estimates and introduced 2013 sales guidance for the short bowel syndrome (SBS) drug of $25-$30 million. NPS recorded $4.8 million in net Gattex sales for the quarter, above the Street's $2.5 million estimate.

As of Aug. 2, the company said 318 prescriptions had been received and 141 patients were receiving Gattex in the U.S., up from 160 prescriptions and 42 patients receiving Gattex as of early May. NPS said it now expects to have 275-325 patients on the analog of glucagon-like peptide-2 (GLP-2) by year end, up from its previous guidance of 200-300 patients. The company -- which launched Gattex in the U.S. in February, with a U.S. list price of $295,000 annually -- said it takes 90-120 days on average for patients to receive Gattex after the drug is prescribed (see BioCentury, Jan. 14). ...