Date:2/28/2011

results related to the MUSE business have been classified as discontinued operations.  In the fourth quarter of 2010, we reported a net loss from continuing operations of $19.1 million, or $0.23 per share, net income from discontinued operations of $12.6 million, or $0.15 per share, and total net loss of $6.5 million, or $0.08 per share.  The loss from continuing operations included a $6.0 million loss on the early extinguishment of long term debt repaid in conjunction with the MUSE sale. The net income from discontinued operations in the fourth quarter included a $13.7 million gain from the sale of MUSE.

In the fourth quarter of 2009, we had a net loss from continuing operations of $15.5 million, or $0.19 per share, net income from discontinued operations of $2.3 million, or $0.03 per share, and total net loss of $13.2 million, or $0.16 per share.  In the fourth quarter of 2009, research and development expenses included the expenses related to the preparation of the QNEXA NDA, which was filed in December 2009.

Year End ResultsFor the year ended December 31, 2010, we reported a net loss from continuing operations of $75.4 million, or $0.93 per share, net income from discontinued operations was $9.4 million, or $0.11 per share, and total net loss of $66.1 million, or $0.82 per share.  As mentioned above, in the fourth quarter of 2010 we closed the sale of MUSE.  We included in the net loss from continuing operations a $6.0 million loss on the early extinguishment of long term debt repaid in conjunction with the MUSE sale and recorded a $13.7 million gain from the sale of MUSE, which is included in the net income from discontinued operations.  Also included in the results from continuing operations in 2009 is $31.4 million in revenue, previously deferred, from the sale of Evamist.  

Cash, Cash Equivalents and Available-for-Sale SecuritiesVIVUS had cash, cash equivalents and available-for-sale securities (
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SOURCE VIVUS, Inc. Copyright©2010 PR Newswire. All rights reserved

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