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Stock Market & Financial Investment News

News Breaks
April 3, 2014
12:40 EDTVVUS, ARNA, OREXVIVUS retreats after analyst cuts rating to sell equivalent
Shares of VIVUS (VVUS), which has developed an anti-obesity drug, are declining after research firm Piper Jaffray downgraded the stock in a note to investors earlier today. WHAT'S NEW: Piper analyst Charles Duncan wrote that he was "increasingly wary" about the outlook for VIVUS' anti-obesity drug, Qsymia. Prescription trends for the drug are "underwhelming," while VIVUS has so far failed to find a U.S. marketing partner for the drug, the analyst explained. Moreover, a competing anti-obesity drug, Orexigen's (OREX) Contrave, is expected to be launched in the second half of this year, Duncan wrote. He now expects VIVUS to generate revenue of $53M for Qsymia, versus what he said was the consensus outlook of $92M. Duncan cut his rating on the stock to Underweight, the equivalent of a sell, from Neutral and slashed his price target on the shares to $3 from $8. WHAT'S NOTABLE: Despite the downgrade, Duncan wrote that he continues to believe the U.S. anti-obesity market outlook is improving. Arena Pharmaceuticals (ARNA) has also developed an anti-obesity drug. Belviq. PRICE ACTION: In early afternoon trading, VIVUS fell 8% to $5.70, Orexigen dropped 4.3% to $6.20, and Arena fell 3.6% to $6.45.
News For VVUS;OREX;ARNA From The Last 14 Days
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March 31, 2015
12:49 EDTOREXOrexigen management to meet with Piper Jaffray
Meeting to be held in New York on March 31 hosted by Piper Jaffray.
March 30, 2015
16:07 EDTVVUSVIVUS continues talks with U.S., EU over Qsymia
VIVUS announced an operational update, including certain key corporate decisions and plans regarding Qsymia capsules CIV. These plans include further investments in high-value, consumer-focused digital media projects in support of obesity education and Qsymia, and focusing the Qsymia field sales organization of approximately 100 territories on the most productive target areas. Management will continue discussions with U.S. and EU regulatory authorities regarding Qsymia development and potential cost-saving measures related to the planned cardiovascular outcomes trial, or CVOT, and will aim to further improve corporate efficiency and control costs while maintaining and extending the value of avanafil. VIVUS plans to discuss with U.S. regulatory authorities and key consultants potential cost-saving alternatives with respect to the Qsymia CVOT, known as AQCLAIM. The company is also in the process of pursuing approval for Qsymia in the EU and other key countries, as well as new indications in other chronic diseases such as obstructive sleep apnea, or OSA, and type 2 diabetes. VIVUS plans to optimize spending while pursuing these potential objectives.
08:47 EDTOREXOrexigen CCO Booth to leave, Cannell appointed CCO
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March 26, 2015
19:16 EDTOREXOn The Fly: After Hours Movers
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14:24 EDTOREXOrexigen says EC grants marketing authorization for Mysimba
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11:38 EDTOREXOrexigen management to meet with Leerink
Meetings to be held in Boston April 1- 2 hosted by Leerink.

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