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Biotech / Medical : VVUS: VIVUS INC. (NASDAQ)
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To: Frostman who wrote (3315)12/10/1997 6:01:00 PM
From: Rubble  Read Replies (2) of 23519
 
While today's drop was obviously a big disappointment to anyone with a long position at the end of 12/9, today's announcement was hinted at one week ago:

Wednesday, December 3, 1997

VIVUS Elects Michael I. Levitt Vice President, Operations


"Our challenge in 1998 will be to continue our current level of production in
our existing facility while bringing our new manufacturing facility in New
Jersey on line as well as completing construction of a significant portion of
our facility in Ireland. Mike's broad experience in pharmaceutical
manufacturing complete with his general management skills are valuable assets
for VIVUS," said Leland F. Wilson, president and CEO.

Maintaining production in the existing facility was described as a "challenge." Definitely a clue of to what was to come for the careful reader.
I in fact was wondering about how increasing production would affect earnings on 7/3, exactly six months before the above hint:

Message 1703124

This coming quarter we should see VVUS barely break even...about <$.05> to $.05 in my estimate. I found the wording of today's announcement somewhat worrisome...it didn't give a plausible explanation for a 25% drop in revs. It made me start doubting the integrity of those who are running this little ambitious company. I'm confident though that their explanation will be clarified in the coming days. If not, VVUS may be hit especially hard by December selling, which should be pretty big anyway as people dump their shares to get 1997 tax deductions. In my next post...perhaps some good news!
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