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Closing NPSP (NPS Pharmaceuticals) underperform

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April 21, 2008 – Comments (0) | RELATED TICKERS: NPSP

After nine months of stagnation, I'm giving up on this underperform which of course means that the share price will drop off the map within a week. Buyers beware. I'm still not a believer but the company has reported near completion of enrollment of the phase III Preos trial, although it wasn't mentioned in the last quarterly statement. And I don't think the market responded appropriately to what was essentially a negative phase III result for Gattex. However no new short or midterm catalysts are expected for Gattex, with a new phase III trial planned for Q3 2008. Therefore I'll lock in my positive score and await an upward move, planning another underperform.

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