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

to be commercially successful. VIVUS does not undertake an obligation to update or revise any forward-looking statements. Investors should read the risk factors set forth in VIVUS' Form 10-K for the year ending December 31, 2010, and periodic reports filed with the Securities and Exchange Commission.VIVUS, Inc.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(in thousands, except per share amounts)(unaudited)Three Months EndedSix Months EndedJune 30June 30June 30June 302011201020112010Operating expenses:Research and development$
,035$
3,57615,51523,787General and administrative5,3036,75010,73111,914Total operating expenses16,33820,32626,24635,701Loss from operations(16,338)(20,326)(26,246)(35,701)Interest and other income (expense), net 36(1,245)78(2,478)Loss from continuing operations before income taxes(16,302)(21,571)(26,168)(38,179)Provision for income taxes(2)-(3)(1)Net loss from continuing operations(16,304)(21,571)(26,171)(38,180)Net income (loss) from discontinued operations107(1,186)121(3,395)Net loss$
(16,197)$
(22,757)$
(26,050)$
(41,575)Basic and diluted net income (loss)per share:Continuing operations$
(0.20)$
(0.27)$
(0.32)$
(0.47)Discontinued operations0.00(0.01)0.00(0.04)Net loss per share$
(0.20)$
(0.28)$
(0.32)$
(0.51)Shares used in per share computation:Basic81,92880,90381,87480,801Diluted84,13380,90384,12080,801VIVUS, Inc.CONDENSED CONSOLIDATED BALANCE SHEETS(in thousands, except par value amount)June 30December 3120112010*(unaudited)Current assets:Cash and cash equivalents$
28,312$
37,216Available-for-sale securities 93,304101,970Inventories3,1073,225Prepaid expenses and other assets1,1981,648Current assets of discontinued operations-6Total current assets125,921144,065Property and equipment, net280221Total assets$
26,201$
44,286Current liabilities:Accounts payable$
,224$
2,395Accrued and other liabilities5,2826,377Current liabilities of discontinued operations2,6623,512Total current liab
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SOURCE VIVUS, Inc.
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