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VIVUS Reports Second Quarter and First Six Months 2011 Financial Results
Date:8/1/2011

MOUNTAIN VIEW, Calif., Aug. 1, 2011 /PRNewswire/ -- VIVUS, Inc. (NASDAQ: VVUS), a biopharmaceutical company dedicated to the development and commercialization of novel therapeutic products, today reported its financial results for the second quarter and six months ended June 30, 2011.

Second Quarter ResultsFor the second quarter ended June 30, 2011, VIVUS reported a net loss of $16.2 million, or $0.20 per share, as compared to a net loss of $22.8 million, or $0.28 per share, for the second quarter of 2010. The net loss from continuing operations was $16.3 million, or $0.20 net loss per share, as compared to a net loss from continuing operations of $21.6 million, or $0.27 net loss per share, during the second quarter of 2010. The lower net loss in 2011 as compared to 2010 primarily results from reduced research and development spending on QNEXA® and avanafil as these projects progress from the clinical trial stage to the regulatory review stage. Included in the net loss for the second quarter of 2011 was a one-time milestone of $4 million to MTPC due upon the filing of the avanafil NDA.  The net loss for the second quarter last year also included a $1.2 million loss from discontinued operations of the MUSE business that was subsequently sold in the fourth quarter of 2010.  

First Half ResultsNet loss for the first six months of 2011 was $26.1 million, or $0.32 per share, as compared to a net loss of $41.6 million, or $0.51 per share, for 2010. The decrease in net loss in the first half of 2011 as compared to 2010 results primarily from reduced research and development spending on QNEXA® and avanafil. In addition, the net loss for the first six months last year included a $3.4 million loss from discontinued operations of the MUSE business.

Cash, Cash Equivalents and Available-for-Sale SecuritiesVIVUS had cash, cash equivalent
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SOURCE VIVUS, Inc.
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