FDA Panel Votes 20-2 In Favor of Approval For Vivus' Qnexa
Vivus, Inc. (NASDAQ: VVUS) received excellent news on Wednesday as an FDA advisory panel has voted 20-2 in favor of approving the company's weight-loss drug Qnexa. The panel's decision is non-binding, but it is highly likely that the FDA will follow the panel's positive recommendation.
Vivus shares fell sharply yesterday on market fears that the panel would vote against Qnexa approval. At last check, VVUS was halted. Vivus has a very high short interest (17.62%), and the stock should be extremely active once it begins trading again.
By most accounts, today's overwhelmingly positive vote was not expected.
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