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VIVUS Reports Third Quarter and First Nine Months 2010 Financial Results
Date:11/8/2010

cility located in Lakewood, New Jersey. The sale will allow VIVUS to focus on the approval and commercialization of QNEXA and the development of avanafil.  This transaction closed on November 5, 2010.  Prior to the closing, VIVUS regained all the rights to MUSE and avanafil held by Deerfield Management Company, L.P. and affiliates and by Crown Bank, N. A.  The financial results for MUSE are accounted for as discontinued operations.

Third Quarter ResultsFor the three months ended September 30, 2010, we reported a net loss of $18 million, or $0.22 net loss per share, as compared to a net loss of $21.1 million, or $0.30 net loss per share, during the same period in 2009. The decrease in net loss in the second quarter of 2010 as compared to the second quarter of 2009 primarily results from the decrease in research and development spending due to the completion of the Phase 3 clinical trials for Qnexa for the treatment of obesity, partially offset by increased general and administrative expenses, primarily due to Qnexa pre-commercialization activities in the third quarter 2010.

Nine Months ResultsFor the nine months ended September 30, 2010, we reported a net loss of $59.6 million, or $0.74 net loss per share, as compared to a net loss of $41.1 million, or $0.59 net loss per share, during the same period in 2009. The increase in net loss in the nine months ended September 30, 2010 as compared to the nine months ended September 30, 2009 results from the completion of the recognition of the Evamist deferred revenue in 2009 and increased general and administrative expenses, primarily due to Qnexa pre-commercialization activities, partially offset by decreased research and development spending due to the completion of the pivotal phase 3 clinical trials for Qnexa for the treatment of obesity.

Cash, Cash Equivalents and Available-for-Sale SecuritiesVIVUS had cash, cash equivalents and available-for-sale securities of $158.2 million
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SOURCE VIVUS, Inc.
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Related medicine technology :

1. FDA Issues Complete Response Letter to VIVUS Regarding New Drug Application for QNEXA®
2. VIVUS Announces Sale of MUSE Assets to Meda
3. VIVUS Submits Qnexa(R) New Drug Application to the FDA for the Treatment of Obesity
4. VIVUS to Host Conference Call and Webcast Discussion of Avanafil Phase 3 Results
5. VIVUS to Present at Lazard Capital Markets Healthcare Conference
6. VIVUS Announces Promotion of Peter Tam to President
7. Data on VIVUS Qnexa to be Featured at European Association for the Study of Diabetes Annual Meeting
8. VIVUS Initiates Open Label Safety Study of Avanafil for Erectile Dysfunction
9. Results From Phase 3 EQUATE Trial of VIVUS Qnexa Highlighted at European Congress on Obesity
10. Anadys Pharmaceuticals Reports Third Quarter 2010 Financial Results and Highlights
11. GenVec Reports Third Quarter 2010 Financial Results
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