UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934

                                February 10, 2004
                ------------------------------------------------
                Date of Report (Date of earliest event reported)

                            NPS PHARMACEUTICALS, INC.
             ------------------------------------------------------
             (Exact Name of Registrant as Specified in Its Charter)

         Delaware                       0-23272                 87-0439579
- ----------------------------       ----------------       ----------------------
(State or Other Jurisdiction       (Commission File          (I.R.S. Employer
      of Incorporation)                 Number)           Identification Number)

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

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




ITEM 12: Results of Operations and Financial Condition

      The following information is furnished pursuant to Item 12, "Results of
Operations and Financial Condition." On February 10, 2004, NPS Pharmaceuticals,
Inc. (the "Company") issued a press release announcing the Company's 2004 fourth
quarter and year-end operating results. The text of the press release is
furnished as Exhibit 99.1 to this Form 8-K.

      The information in this Form 8-K and the Exhibit attached hereto shall not
be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of
1934 (the "Exchange Act") or otherwise subject to the liabilities of that
section, nor shall it be deemed incorporated by reference in any filing under
the Securities Act of 1933 or the Exchange Act, except as expressly set forth by
specific reference in such filing.

                                   SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

Date:  February 10, 2004                        NPS PHARMACEUTICALS, INC.
                                                ---------------------------
                                            By: /s/ HUNTER JACKSON
                                                Hunter Jackson
                                                CEO, President and Chairman
                                                of the Board




                                  EXHIBIT INDEX

Exhibit
 Number     Description
- -------     -----------

  99.1      Press Release issued by NPS Pharmaceuticals, Inc. on February 10,
            2004 announcing the Company's 2004 fourth quarter and year-end
            operating results.