logo
Share SHARE
FONT-SIZE Plus   Neg

Vivus Q4 Loss Widens

Vivus Inc. (VVUS) Thursday reported a wider loss for the fourth quarter, as revenues from its only commercial drug fell short of estimates, while the drug maker incurred increased marketing costs on the drug.

Sales of obesity drug Qsymia was $2.0 million, while analysts polled by Thomson Reuters expected revenues of $3.09 million for the quarter.

Qsymia is Vivus only commercial product. Last June, the company received FDA approval to market Qsymia as an addition to diet and exercise for chronic weight management. It was the second drug in 13 years to be approved by FDA to treat obesity.

The company intensified its commercialization activities for Qsymia, as the initial sales of the drugs were below expectations. Selling, general and administrative costs for the quarter jumped to $50.3 million from $6.5 million last year.

Mountain View, California-based Vivus' fourth-quarter loss widened to $56.7 million or $0.56 per share from $11.5 million or $0.13 per share last year. On average, thirteen analysts polled by Thomson Reuters expected earnings of $0.44 per share for the quarter. Analysts' estimates typically exclude special items.

VVUS closed Monday's regular trade at $12.41, down $0.17 or 1.36%. The stock further slipped $0.54 or 4.35%, on a volume of 2.3 million shares.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Shares of Kingfisher Plc were declining around 7 percent in the morning trading in London after the home improvement retailer reported Wednesday weak sales in its first quarter on a constant currency and like-for-like basis amid continued weaker sales in France. On a reported basis, sales increased from last year. Shares of U.S. grains trader Bunge Ltd. climbed around 17 percent on Tuesday after the Swiss mining giant Glencore Plc confirmed that its agriculture joint venture has made an informal takeover approach. Bunge, meanwhile, said its not engaged in business combination talks with Glencore or its JV Glencore Agriculture Limited. A United Airlines flight from Shanghai to New Jersey was delayed for hours as an unruly passenger refused to vacate the seat of another passenger while boarding the aircraft in Shanghai. The flight was also forced to make an unscheduled stop at San Francisco International Airport to get a replacement crew after delays caused by the passenger.
comments powered by Disqus
Follow RTT