NPS
Pharmaceuticals, Inc. (Nasdaq: NPSP) announced today that it and certain of
its officers have been named as defendants in purported shareholder class
action lawsuits filed in the United States District Court for the District
of Utah. The lawsuits allege that between August 2005 and May 2006, the
defendants made misleading statements concerning the company's market
prospects for its proprietary drug, PREOS.
The company believes neither the law nor the facts support the claims
made in these complaints. As a result, the company believes that the claims
are without merit and will defend against them vigorously.
About NPS Pharmaceuticals
NPS discovers, develops and commercializes small molecules and
recombinant proteins as drugs, primarily for the treatment of metabolic,
bone and mineral, and central nervous system disorders. The company has
drug candidates in various stages of clinical development backed by a
strong discovery research effort. Additional information is available on
the company's website, npsp.
Cautionary Statement for the Purpose of the "Safe Harbor" Provisions
of the Private Securities Litigation Reform Act of 1995
Except for the historical information contained herein, the matters set
forth in this press release, including statements as to development and
commercialization of the company's products, are forward-looking statements
within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking statements
are subject to risks and uncertainties that may cause actual results to
differ materially, including, early stage of development; the timing of
clinical trials; the dependence on collaborative and licensing agreements;
approval and commercialization of our products and other risks detailed
from time to time in the company's SEC reports, including its Annual Report
on Form 10-K for the year ended December 31, 2005, and its Quarterly Report
on Form 10-Q for the quarter ended March 31, 2006. The company disclaims
any intent or obligation to update these forward-looking statements.
NPS Pharmaceuticals, Inc.
npsp