NPS slides as faint panel praise puts FDA approval in jeopardy

NPS Pharmaceuticals ($NPSP) walked away from an FDA panel meeting with a recommendation to approve its orphan drug, but a lukewarm reception and nagging safety concerns have investors fearing the worst. A group of FDA advisers voted 8-5 in favor of approving Natpara, a hormone-replacement therapy for the rare endocrine disorder hypoparathyroidism, but not without repeatedly highlighting concerns about its efficacy and long-term tolerability. The company's shares have fallen more than 15% since the Friday vote, reflecting investor worries that the drug will get saddled with sales-limiting restrictions or rejected outright when the FDA makes a final decision next month. More