>>ALERT>>>Earnings Play for "Anticipatory Upswing" NPSP Yep what a surprise another Pharmie!
NPSP is about to break important resistance today if it closes above 20.65. I would look for the next move to be towards the gap down at 21.40 and closing the gap towards 22.30 after or even still before the report.
SALT LAKE CITY, May 7 /PRNewswire-FirstCall/ -- NPS Pharmaceuticals, Inc. (Nasdaq: NPSP - News) announced today that it will report its first quarter 2003 financial results on Wednesday, May 14, 2003 at 2:30 p.m. MDT (4:30 p.m. EDT). The announcement will be followed by a conference call at 3:00 p.m. MDT (5:00 p.m. EDT) featuring Dr. Hunter Jackson, Chairman, CEO, and President and other members of the NPS senior management team.
NPS is a company that develops drugs for endocrine disorders, predominantly osteoporosis and hyperparathyroidism. They have a partnership with Amgen, and will seek a partnership with another pharmaceutical or biotech company this year. The company is actually down about 50% from its highs, just several months ago, due to its proposed merger with Enzon Pharmaceuticals. The company is now at about $0.5 billion market cap, and they are merging with Enzon, which is also $0.5 billion market cap. The problem is, there are two different shareholder groups, and neither group likes the deal, so investors sold down both sides of the deal relatively rapidly, but its nearly back to the "pre ENZN deal" prices already.
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