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Stock Market & Financial Investment News

News Breaks
April 3, 2014
12:40 EDTOREX, VVUS, ARNAVIVUS 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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November 21, 2014
09:17 EDTOREXOn The Fly: Pre-market Movers
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08:10 EDTOREXOrexigen announces allowance of new U.S. patent for Contrave
Orexigen Therapeutics announced that the company has received a notice of allowance from the U.S. Patent and Trademark Office for U.S. Patent Application No. 11/757,773, which covers use of Orexigen's sustained release formulation of naltrexone, which was designed to improve drug tolerability for Contrave in a method for treating obesity. The patent is expected to expire in March of 2028. Orexigen expects the patent to be listed in the Orange Book maintained by the FDA.
November 18, 2014
07:37 EDTARNAStifel to hold a conference
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November 10, 2014
07:05 EDTOREXOrexigen reports Q3 EPS 9c, consensus (13c)
Reports Q3 revenue $30.9M, consensus $8.93M; This increase in 2014 was due to recognition of two regulatory/development milestones, consisting of $20.0 million due upon regulatory approval in the U.S. and $10.0 million due upon the delivery of Contrave launch supplies to Takeda.

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