VIVUS Earnings: Here’s Why Investors are Not Happy Now
VIVUS Inc. (NASDAQ:VVUS) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 3.26%.
VIVUS Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.55 in the quarter versus EPS of $-0.24 in the year-earlier quarter.
Revenue: Was the same at $5.53 million as the year-earlier quarter.
Actual vs. Wall St. Expectations: VIVUS Inc. reported adjusted EPS loss of $0.55 per share. By that measure, the company missed the mean analyst estimate of $-0.44. It missed the average revenue estimate of $12.76 million.
Quoting Management: “It is a pleasure to join VIVUS as CEO and I look forward to working with the VIVUS team, including the Board of Directors,” stated Tony Zook, chief executive officer of VIVUS. “We intend to move quickly on four main goals: 1) expand use of Qsymia through targeted patient and physician education; 2) find the right partner for Qsymia to expand PCP reach; 3) create a pathway for centralized approval in Europe; and 4) eliminate expenses that are not essential to expanding use of Qsymia. We are already making progress on these four goals.”
Key Stats (on next page)…