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Tripping on the steps

NPS Pharmaceuticals Inc. unwound a deal with AstraZeneca plc last week for metabotropic glutamate receptors, thus completing the biotech's seven-month effort to focus on its late stage projects and shore up its balance sheet. With the house in order, NPSP didn't have to wait long for an inflection point, as the company reported Phase III data on Thursday for Gattex teduglutide to treat short bowel syndrome.

The results, however, were mixed. Thus, to deliver on Gattex - a key component of the company's focus - NPSP will now

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