Vivus, Inc.: VVUS (NASDAQ)
12 Mar 2002, 01:34 PM EST
DJ Vivus Up -2: Co Has No Comment On Stock Move
By Victoria Marcinkowski Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)Investors bid up shares of Vivus Inc. (VVUS), which hit a new 52week high Tuesday, as several institutional holders bought into the small pharmaceutical firm's stock.
"I think the stock is moving up today because a few institutional investors have come in," said Sheetal Patel, an analyst with Roth Capital Partners.
Officials from the Mountain View, Calif., company had no comment on the stock move.
Patel said investors were buying up shares of Vivus in anticipation of good news later this month about two recently initiated studies.
Vivus recently began enrollment in a phase II/III study of Alista, its female sexual dysfunction treatment. Investors are now waiting to hear that the first dosage has been given to a patient, something people see as a starting date for the countdown to when the drug could hit the market.
"The first patient dose really determines a lot," Patel said.
In addition, investors are anticipating news related to a phase II trial of Vivus' promising "secondgeneration Viagra" treatment, TA1790. Viagra is Pfizer Inc.'s (PFE) blockbuster erectile dysfunction treatment.
Shares of Vivus recently traded at a new 52week high of $8.50, up 75 cents, or 9.7%, on volume of 617,000 shares. Average daily volume is 405,000 shares. Five block trades of between 10,000 and 50,000 shares had crossed the wire in midday trading and block volume was about twice the average daily block volume.
VIVUS goal is to establish a robust pipeline consisting of drug candidates at various stages of development, with a focus on innovative therapies intended to serve large and unsatisfied markets. In addition to the Companys currently marketed products, MUSE. and ACTIS., VIVUS is developing products for male erectile dysfunction, female sexual dysfunction, and premature ejaculation.
GO to WWW.VIVUS.COM for complete product pipeline information.
CONTACT: VIVUS Inc.
Richard Walliser, 650/934-5200
ir@vivus.com
www.vivus.com
or
Lippert/Heilshorn & Associates Inc.
Bruce Voss, 310/691-7100 (Investor Contacts)
bvoss@lhai.com
Jody Cain, 310/691-7100 (Investor Contacts)
jcain@lhai.com
Elissa Grabowski, 212/838-3777 (Media Contact)
egrabowski@lhai.com
www.lhai.com |
