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    Biotech Stock to Watch; VIVUS Review

    Biotech Stock to Watch; VIVUS Review

    VIVUS Inc. (NASDAQ: VVUS), a biopharmaceutical company engaged in the development and commercialization of therapeutic drugs for large underserved markets, last week announced that the U.S. FDA accepted its New Drug Application (NDA) for avanafil for treatment of erectile dysfunction.

    VIVUS said that the target date for the FDA to complete the review process of the avanafil NDA is April 29, 2012. According to phase III trial results, patients treated with avanafil showed substantial improvement in erectile function compared to placebo.

    Commenting on the acceptance of the NDA, Peter Y. Tam, president of VIVUS, said that the company is pleased with the FDA’s acceptance of its NDA and that if approved, avanafil could be a valuable treatment alternative for the 19 million men in the U.S. that suffer from erectile dysfunction.

    VIVUS also announced recently that it closed a registered direct offering of 6,889,098 shares of its common stock to a select group of institutional investors at $6.65 per share. The company’s gross proceeds from the offering totaled $45.8 million.

    VIVUS shares are up sharply in today’s trading despite a sell-off in the broad market. At last check, VIVUS shares were trading 5.60% higher at $8.11, with volume at 1.49 million. In the last three months, VIVUS shares gained 0.69%. Year-to-date, the stock fell 15.48%.

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