Doc, the following on WSJ interactive this AM.
<<Vivus Inc. Gets U.K. Approval
To Market Muse
Dow Jones Newswires
MENLO PARK, Calif. -- Vivus Inc. (VVUS) said it
received approval in the U.K. to market its Muse
impotence treatment and plans to distribute the product
in conjunction with Sweden's Astra AB (A).
In a press release Monday, Vivus said Astra
Pharmaceuticals Ltd., of Kings Langley, England, will
market the product. Vivus said it will get a $2 million
milestone payment from Astra under a May 1996
agreement.
Astra will distribute Muse in Europe, Australia, New
Zealand and some Central and South American
countries once it gets individual country approvals, Vivus
said.
The developer of therapeutics for treating erectile
dysfunction said it expects Muse to be registered in most
of the European Union countries during 1998.>>
I would expect to see the mean estimate of 31 cents per share for Q4 to be bumped up to account for 2 million in milestone dollars from ASTRA. With 33.1 million shares, that's roughly 6 cents a share gross;
I don't know the accounting procedure for this money, tax etc. If exceptional news suddenly won't budge this stock, perhaps superior fundamentals will win the day in the near future as Vivus continues to bolt together stellar quarters. Isn't there more milestone money out there also?
Frostman |
