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
Reynolds American Inc. (RAI) on Friday confirmed that British American Tobacco plc (BATS.L, BTI) has offered to buy the remaining 57.8 percent stake that it does not own in the US tobacco company for $47 billion. Reynolds said its board of directors will evaluate the offer, and respond accordingly to BAT, which currently owns 42.2 percent stake in Reynolds. The proposal represents an enterprise va Fast food giant McDonald's Corp. on Friday reported a 3 percent decline in profit for the third quarter from last year, reflecting one-time charges and lower sales. However, both revenue and earnings per share beat analysts' expectations. Shares of the company are gaining more than 3 percent in pre-market activity. General Electric Company (GE) reported that its third-quarter Industrial operating plus Verticals earnings, a non-GAAP measure, decreased 2% year-over-year to $2.87 billion. Industrial operating plus Verticals earnings per share was $0.32 compared to $0.29 prior year. On average, 15 analysts polled by...
comments powered by Disqus
Follow RTT