VIVUS, Inc., Orexigen Therapeutics, Inc. Stock Climb Ahead on Highly Anticipated FDA Decision
Published: Jul 17, 2012
Shares of Vivus Inc. (US:vvus) jumped 5% to $28.63 Monday in anticipation that the U.S. Food and Drug Administration will soon approve its diet drug Qnexa. The FDA is scheduled to issue a decision by the end of Tuesday. Also gaining were shares of Orexigen Therapeutics (US:orex), up 7%. Orexigen announced last week that a clinical trial requested by the FDA for approval of its diet-drug candidate Contrave was ahead of schedule. Orexigen hopes to now have early results available by the end of 2013, rather than June 2014.