NPS PHARMACEUTICALS INC
10-C, 1996-05-16
BIOLOGICAL PRODUCTS, (NO DIAGNOSTIC SUBSTANCES)
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                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C.  20549

                             -----------------------

                                    FORM 10-C

                 REPORT BY ISSUER OF SECURITIES QUOTED ON NASDAQ
                          INTERDEALER QUOTATION SYSTEM

                  Filed Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934
                      and Rule 13a-17 or 15d-17 thereunder


                            NPS PHARMACEUTICALS, INC.
                  ---------------------------------------------
                 (Exact name of issuer as specified in charter)


          Delaware                          0-23272              87-0439579
- ----------------------------       ------------------------  -------------------
(State or other jurisdiction       (Commission File Number)    (IRS Employer
     of incorporation)                                       Identification No.)


                                 420 Chipeta Way
                        Salt Lake City, Utah  84108-1256
                     --------------------------------------
          (Address of principal executive offices, including zip code)


                                 (801) 583-4939
                            ------------------------
                (Issuer's telephone number, including area code)


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ITEM I.   CHANGE IN NUMBER OF SHARES OUTSTANDING

1.   Title of security:  Common Stock
                         ------------------------------------------------------

2.   Number of Shares outstanding before the change:   8,187,232
                                                       ------------------------

3.   Number of Shares outstanding after the change:    11,637,232
                                                       ------------------------

4.   Effective date of change:  May 8, 1996
                                -----------------------------------------------

5.   Method of change:  Sale to Underwriters and Underwriters' exercise of over-
                        --------------------------------------------------------
     allotment option and public offering covered by Registration Statement on 
     ---------------------------------------------------------------------------
     Form S-1 (File No. 333-02566).
     ---------------------------------------------------------------------------

Dated: May 14, 1996


                                             NPS PHARMACEUTICALS, INC.


                                             By:  /s/ Robert K. Merrell
                                                 ------------------------------
                                                       Robert K. Merrell
                                                   Vice President, Finance,
                                                   Chief Financial Officer
                                                        and Treasurer


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