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New York, NY -- (SBWIRE) -- 11/21/2012 -- VIVUS, Inc. (NASDAQ:VVUS) is a biopharmaceutical company. The Company is engaged in the development and commercialization of therapeutic drugs for underserved markets, including obesity and related morbidities, such as sleep apnea and diabetes, and men's sexual health. As of the year ended December 31, 2011, it had one investigational drug candidate, QNEXA, which has been submitted for approval as a treatment for weight loss in the United States and the European Union. The Company’s investigational drug pipeline includes two late-stage clinical investigational drug candidates. One of these investigational drug candidates, QNEXA, has completed Phase III clinical trials for obesity and Phase II clinical trials for diabetes and obstructive sleep apnea. In addition to Qnexa, it has an investigational drug candidate, avanafil, to treat erectile dysfunction (ED). The Company has completed the Phase III clinical studies for avanafil, and filed an NDA with the FDA in June 2011.
Shares of Vivus (NASDAQ:VVUS) reported a gain Wednesday after Aetna (AET) announced it would give medical advantage coverage for the companies’ particular treatment weight-loss pills.
During mid day trading, VIVUS, Inc. (NASDAQ:VVUS) surged +11.59% to $11.55 with the traded volume of 9.40 million shares. VVUS has outstanding shares of 11.59 million with the total market cap of 1.17 billion and its beta value stands at 1.14 times.
VIVUS, Inc. (NASDAQ:VVUS) announced that is has received the formal opinion from the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) following their October 15-18 meeting and that the CHMP recommended against approval of the Marketing Authorization Application (MAA) for Qsiva™ (phentermine/topiramate ER) for the treatment of obesity in the European Union.
VIVUS, Inc. said the reasons for the decision from the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) were due to concerns over the potential cardiovascular and central nervous system effects associated with long-term use, teratogenic potential and use by patients for whom Qsiva is not indicated.
On Nov. 6, 2012 VIVUS, Inc. reported its financial results for the third quarter and nine months ended September 30, 2012.Shares of VIVUS, Inc. declined from $24.45 per share on September 18, 2012 to as low as $10.24 per share on November 8, 2012. On November 13, 2012, shares closed at $11.44 per share, which is significantly below its current 52 week High of $31.21 per share.Those who purchased shares of VIVUS, Inc. , have certain options and should contact the Shareholders Foundation.
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