NEW YORK (TheStreet) -- Shares of NPS Pharmaceuticals (NPSP) surged 20.61% to $31.08 in afternoon trading Wednesday after the FDA said the company's hormone replacement therapy Natpara decreased the need for calcium and vitamin D supplements in clinical trials.
The FDA posted its findings in a preliminary review but noted data from one trial site had to be thrown out because of manufacturing violations. The review also stated serious adverse events were similar between the treatment and placebo groups.
The FDA's report comes before a Friday meeting in which independent advisers will help review the drug for potential approval.
NPS Pharmaceuticals designed Natpara to treat hypoparathyroidism, an uncommon condition that causes the body's parathyroid gland to not secrete sufficient amounts of parathyroid hormone (PTH). This hormone is crucial in regulating and maintaining a balance in the body's calcium and phosphorus levels.
Low PTH production from hypoparathyroidism leads to low levels of ionized calcium in the blood and bones and also causes an increase of serum phosphorus.
More than 7.5 million shares had changed hands as of 1:10 p.m., compared to the average volume of 1,610,290.NPSP data by YCharts
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