VIVUS (VVUS) Ticks Lower; Wider Q3 Loss Attributed to Qsymia Launch, Expansion (ARNA) (OREX)

November 6, 2012 8:56 AM EST
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VIVUS, Inc. (Nasdaq: VVUS) is trading higher in early action following third-quarter results issued earlier.

Though revs were just $41 million, VIVUS noted that, "[g]iven the lack of history in selling Qsymia, VIVUS will recognize revenue on the sell-through method, that is, revenue is recognized as prescriptions are shipped to patients. We obtain the prescription shipment data directly from the pharmacies to determine the amount of revenue to recognize."

Net loss was 40 cents per share, from a loss of 10 cents per share in the same period last year. The widened result stems from higher SG&A expenses attributed to the launch and commercialization of Qsymia.

Additionally, VIVUS didn't provide too much in the way of an update for Qsymia. Two items addressed with the CHMP denial of marketing approval for Qsiva in Europe and submission of an amended REMS for expanded Qsymia distribution. Both were announced in October.

VIVUS also said it was in the process of responding to a Day 120 List of Questions from the EMA for SPENDRA in Europe.

Traders will also be keeping an eye on peers Arena Pharma (Nasdaq: ARNA) and Orexigen (Nasdaq: OREX). Arena will release quarterly results after the market closes today, while Orexigen -- which still has its obesity pill in development stage -- will release after the markets close tomorrow.

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