Study to Evaluate Effect of Intranasal Teriparatide on Bone Mineral Density in Postmenopausal Women With Low BMD

Inclusion Criteria: * Postmenopausal Female patients up to 89 years, inclusive; * BMI ≤ 35 kg/m2, inclusive; * In good health, determined by medical history and physical examination, as well as normal 12-lead ECG and vital signs; * Females will be non-pregnant, non-lactating, and either post-menopausal for at least 1 year, surgically sterile (including tubal ligation, hysterectomy) for at least 3 months, until 30 days following Study Completion be willing to use an approved method of contraception; * Have a minimum of two evaluable non-fractured lumbar vertebrae. * Have low bone mineral density defined as having a T-score ≤ -2.0 as determined by DXA scan at either the lumbar spine (L1-L4) or total hip Exclusion Criteria: * Serious Medical Condition * History of diseases which affect bone metabolism other than postmenopausal osteoporosis such as Paget's disease, any secondary causes of osteoporosis, hypoparathyroidism, or hyperparathyroidism * Have a history of cancer within the past 5 years, except for basal cell carcinoma * Have hypocalcemia or hypercalcemia from any cause or have a recent history of kidney stones or pre-existing hypercalciuria; * Have used any of the mostly commonly prescribed osteoporosis medications within 3 months of starting the investigational product, or for more than 1 month at any time within 6 months prior to starting investigational product.