Vivus' 2008 loss triples on Qnexa costs
US drugmaker Vivus' 2008 loss more than tripled, year-on-year, as the firm channeled its funds into progressing its candidate Qnexa towards pivotal trials.
Revenue was $102.2 million, up 87%, while R&D costs more than doubled to $77.0 million versus $26.7 million, due to Qnexa expenses.
The company's net loss deepened to $9.9 million, or $0.16 loss per share, vs a loss of $2.4 million, or $0.04 loss per share. Nonetheless, the firm had increased its cash and cash equivalents by 75% to $66.1 million, by December 31, 2008, compared to the same point of the year before.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
| Headless Content Management with Blaze