VIVUS Reports Third Quarter 2009 Highlights and Financi...(uarter of 2009 was $21.1 million or $0.3...)

Nine Month Results

Product revenues from the sale of MUSE for the first nine months of 2009 were $9.7 million, as compared to $10.3 million for the same period of 2008. License and other revenue was $31.7 million for the first nine months as compared to $63.1 million for 2008. The first nine months of 2008 included recognition of deferred license revenue from Evamist. Recognition of the deferred revenue from the sale of Evamist ended in May 2009. Total revenue for the first nine months of 2009 was $41.4 million, as compared to $73.4 million for 2008.

Operating expenses for the first nine months of 2009 were $80.6 million as compared to $75.7 million for the same period in 2008. The difference in operating expenses for 2009 was primarily attributable to spending related to our phase 3 clinical trials of avanafil, partially offset by reduced spending on the Qnexa program for obesity.

Net loss for the first nine months of 2009 was $41.1 million, or $0.59 per share, as compared to $3.2 million, or $0.05 per share, for 2008.

Cash, Cash Equivalents and Available-for-Sale Securities

VIVUS had cash, cash equivalents and available-for-sale securities of $226.9 million at September 30, 2009, as compared to $189.2 million at December 31, 2008. The increase in cash, cash equivalents and available-for-sale securities of $37.7 million is the net result of cash provided by financing and investing activities, including $102.7 million in net proceeds from the underwritten public offering of our common stock and $10 million in cash from the other financing received in the first nine months of 2009, partially offset by cash used for operating activities.

About VIVUS

VIVUS is a biopharmaceutical company d
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