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
Life expectancy at birth in the U.S. is already lower than most other developed nations and is now projected to fall further behind by 2030, according to a new study. It also suggests that by 2030, national female life expectancy in South Korea could break the 90 year barrier. Department store chain J.C. Penney Co. Inc. on Friday reported a turnaround to profit in the fourth quarter as a slight decline in sales was more than offset by lower expenses. Adjusted earnings per share for the quarter beat analysts' expectations, while revenues slightly missed their estimates. Earlier today, J.C. Penny announced a plan to optimize its national retail operations. Google is planning to significantly expand a carpool service on its navigational app Waze, according to a report in the Wall Street Journal. The move indicates the company is edging closer to a potential clash with ride-hailing service Uber Technologies Inc.
comments powered by Disqus
Follow RTT