UPDATE: VIVUS Posts Q4 Loss

reported a loss for the fourth quarter. The Mountain View, California-based company posted a quarterly net loss of $25.4 million, or $0.25 per share, versus a year-ago net loss of $17.2 million, or $0.17 per share. Its total net revenue fell to $21.7 million from $44.1 million. However, analysts were expecting a loss of $0.25 per share on revenue of $20.1 million. Net product revenue for the quarter climbed to $12.7 million from sales of Qsymia, versus $7.7 million, in the year-ago quarter. Total selling, general and administrative expense fell to $26.8 million for the latest quarter, from $36.6 million. Total research and development expense declined to $2.7 million from $5.0 million. At December 31, 2014, cash, cash equivalents and available-for-sale securities slipped to $299.6 million, versus $343.3 million at December 31, 2013. "We continue to see positive trends for Qsymia as we concentrate our efficient commercial efforts on the most productive healthcare providers in the U.S.," said Seth H. Z. Fischer, CEO. "The market for obesity pharmacotherapy is expanding at an increasing rate, with new market entrants contributing to awareness and greater attention being focused on the category. We are capitalizing on this by creating physician and consumer communities to discuss weight loss options, and have updated our website and QandMe program to better help patients achieve their weight loss goals." VIVUS shares gained 1.08% to $2.82 in after-hours trading.