Vivus (VVUS) Qnexa PDUFA Delay a "Minor Hiccup" - Leerink Swann
Tweet
Share
E-mailGet Alerts VVUS Hot Sheet
Price: $0.47 --0%
Rating Summary:
3 Buy, 6 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 6 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Leerink Swann commented on Vivus (NASDAQ: VVUS) following the three month Qnexa PDUFA date extension.
"Overall, we believe this represents a minor delay and it does not change our opinion of Qnexa approval without a pre-approval CV outcomes study."
Commenting further, the firm notes that even with the delay Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) lorcaserin (PDUFA date 6/27/12) will not be able to wrest significant firstmover advantage on Qnexa. More importantly, they say, is that the delay may indicate that the FDA is leaning toward an approval since the agency could have issued a CRL on 4/17 if it was certain that a pre-approval CV outcomes trial is necessary.
The firm reiterated their Outperform rating and high $20s valuation.
For an analyst ratings summary and ratings history on Vivus click here. For more ratings news on Vivus click here.
Shares of Vivus closed at $22.92 yesterday.
"Overall, we believe this represents a minor delay and it does not change our opinion of Qnexa approval without a pre-approval CV outcomes study."
Commenting further, the firm notes that even with the delay Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) lorcaserin (PDUFA date 6/27/12) will not be able to wrest significant firstmover advantage on Qnexa. More importantly, they say, is that the delay may indicate that the FDA is leaning toward an approval since the agency could have issued a CRL on 4/17 if it was certain that a pre-approval CV outcomes trial is necessary.
The firm reiterated their Outperform rating and high $20s valuation.
For an analyst ratings summary and ratings history on Vivus click here. For more ratings news on Vivus click here.
Shares of Vivus closed at $22.92 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
- Mizuho Reiterates Outperform Rating on Broadcom Limited (AVGO) Into EPS
- Ross Stores, Inc. (ROST) PT Raised to $240 at Bernstein SocGen Group
Create E-mail Alert Related Categories
Analyst CommentsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
