VIVUS (VVUS) Slumps to Multi-Month Low, Nears $20 Support Level
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VIVUS, Inc. (Nasdaq: VVUS) has been on quite the down trend lately, making notable new lows in the process.
After reaching a new 52-week high on July 18th of $31.21 following FDA approval of its weight-management drug Qsymia and positive comments from analysts on the drug versus competitor Arena's (Nasdaq: ARNA) BELVIQ, shares have fallen ill with the "Bio-Slump."
VIVUS has closed lower eight of the last 10 trading sessions since July 18th, falling 35 percent in the process. In fact, VIVUS hasn't seen lows like this since March...and hasn't closed below $20 in over five months. At $20.20 - $20.30 today, that risk is closer than ever.
Both Arena and peer Orexigen (Nasdaq: OREX), which is developing its obesity pill Contrave, have slipped, but are only at one-month lows.
Whether VIVUS will be able to rebound is anyone's guess. Both Arena and VIVUS need to conduct a few further tests to see their drugs affects on the heart and debate as to which one is better for patients is ongoing.
Let's hope VIVUS shareholders don't start dropping pounds the old fashioned way: by selling their stock.
VIVUS shares are down 3.6 percent, while Arena is off 4.8 percent and Orexigen is down over 5 percent.
After reaching a new 52-week high on July 18th of $31.21 following FDA approval of its weight-management drug Qsymia and positive comments from analysts on the drug versus competitor Arena's (Nasdaq: ARNA) BELVIQ, shares have fallen ill with the "Bio-Slump."
VIVUS has closed lower eight of the last 10 trading sessions since July 18th, falling 35 percent in the process. In fact, VIVUS hasn't seen lows like this since March...and hasn't closed below $20 in over five months. At $20.20 - $20.30 today, that risk is closer than ever.
Both Arena and peer Orexigen (Nasdaq: OREX), which is developing its obesity pill Contrave, have slipped, but are only at one-month lows.
Whether VIVUS will be able to rebound is anyone's guess. Both Arena and VIVUS need to conduct a few further tests to see their drugs affects on the heart and debate as to which one is better for patients is ongoing.
Let's hope VIVUS shareholders don't start dropping pounds the old fashioned way: by selling their stock.
VIVUS shares are down 3.6 percent, while Arena is off 4.8 percent and Orexigen is down over 5 percent.
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