NPS Pharmaceuticals intends to offer public offering of common stock

NPS Pharmaceuticals, Inc. (Nasdaq: NPSP) today announced that it intends to offer and sell approximately $41,290,000 of its common stock in an underwritten public offering. The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Jefferies & Company, Inc. is acting as sole book-running manager and Canaccord Genuity Inc. is acting as co-lead manager for the offering.

The securities described above are being offered by NPS pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission ("SEC") on June 5, 2009. A preliminary prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC's website located at www.sec.gov. Copies of the prospectus supplement and the accompanying prospectus relating to this offering may be obtained from Equity Syndicate Prospectus Department, Jefferies & Company, 520 Madison Avenue, 12th Floor, New York, NY, 10022, at 877-547-6340, and at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.