Vivus Inc. (VVUS) Wednesday reported a wider loss for the first quarter, on account of higher selling, general and administrative expenses related to the commercialization of its obesity drug Qsymia.
Mountain View, California-based Vivus' first-quarter loss widened to $53.5 million or $0.53 per share from $18.7 million or $0.20 per share last year. On average, thirteen analysts polled by Thomson Reuters expected a loss of $0.51 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues from the drug was $4.11 million, while analysts polled by Thomson Reuters expected revenues of $5.22 million for the latest quarter.
Meanwhile, selling, general and administrative costs for the quarter leaped to $44.6 million from $12.4 million in the same quarter last year.
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