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Why Vivus Is Trading Lower Today

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Vivus (NASDAQ: VVUS) shares were trading lower on Wednesday, after the company priced its 7.22 million share common stock offering at $1.60 per share.

Vivus is a small pharmaceutical company headquartered in Campbell, California, working in obesity, sleep, and sexual health. Vivus is developing an erectile dysfunction drug, Avanafil, that has completed Phase 3 clinical trials.

Vivus shares traded down 58.06% to $1.51 at time of publication. The stock has a 52-week range between $4.75 and 80 cents per share.

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