BEDMINSTER, N.J. (AP) -- Specialty pharmaceutical maker NPS Pharmaceuticals Inc. reported a narrower loss for the third-quarter as drug development royalties and product sales increased.
The company posted a net loss of $12.3 million, or 14 cents per share, compared with a loss of $15.7 million, or 26 cents per share, in the same period last year.
Revenue increased 17 percent to $24.6 million on revenue from drug royalty agreements for Amgen's Sansipar and other biotech drugs. Sensipar is approved to treat hyperparathyroidism, or over-activity of the parathyroid gland.
Analysts polled by FactSet expected a loss of 12 cents per share on revenue of $24.5 million.
The company's cash and investments totaled $189.6 million at the end of Sept. 30, 2011.
Shares of NPS Pharmaceuticals Inc. rose 26 cents, or 4.9 percent, to $5.51 in afternoon trading.
