Amgen, NPS deal

The companies signed a letter of intent to develop compounds based on NPSP's calcium receptor technology, including NPSP's Norcalcin, to treat hyperparathyroidism (HPT).

The total value of the deal could reach $43.5 million, excluding royalties. NPSP will receive an initial license fee of $10 million, milestones of up to $26 million and royalties. In addition, AMGN will purchase 1 million shares of NPSP common stock for $7.5 million. NPSP has 7 million shares outstanding prior to the investment. ...