Posted by admin | Posted on 23-02-2012
Category : Stocks
Tags: arna, complete, drug, drugs, evaluation, forward, health care, making, obesity, physicians, price, statement, vvus
NEW YORK (TheStreet) — Shares of VIVUS soared late Wednesday after the company confirmed a Food and Drug Administration advisory committee has recommended Qnexa, its proposed treatment for obesity in adults, receive marketing approval.
The stock was last quoted at $21.02, up 99.2%, on volume of 1.9 million, according to Nasdaq.com.
“We are pleased with the panel’s approval recommendation in support of the safety and efficacy of Qnexa,” said Peter Tam, the company’s president, in a statement. “We look forward to working with the FDA as they complete their evaluation. Obesity is a serious medical condition, and we are committed to making Qnexa available and providing physicians with a new medical treatment option in their battle with this public health epidemic.”
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View original post here: Vivus Shares Soar; FDA Panel Recommends Qnexa Approval
