Investors Bid up VIVUS (VVUS) as Early Approval Article Makes the Rounds
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The USA Today appears to have jumped the gun with an article suggesting the FDA has ok'd VIVUS's (Nasdaq: VVUS) Qnexa, which will be marketed under Qsymia.
A new prescription diet drug OK'd today by the government is expected to help heavy patients drop about 10% of their weight — more than any other approved obesity medication.
The article appears to have been inadvertent posted early, as the FDA decision has yet been announced. It was taken down at the USA Today's main site, although it is was syndicated to others and is still live. Nonetheless, investors in VVUS are using the article as an excuse to bid up the stock.
After trading down 27 percent earlier today, shares are now up 1.9 percent.
A new prescription diet drug OK'd today by the government is expected to help heavy patients drop about 10% of their weight — more than any other approved obesity medication.
The article appears to have been inadvertent posted early, as the FDA decision has yet been announced. It was taken down at the USA Today's main site, although it is was syndicated to others and is still live. Nonetheless, investors in VVUS are using the article as an excuse to bid up the stock.
After trading down 27 percent earlier today, shares are now up 1.9 percent.
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