Credit Suisse Securities LLC, BofA Merrill Lynch and Leerink Swann LLC will act as joint managers. The company hopes to file in late 2013, triggering a 10- month review process by the FDA. The FDA refused to approve the drug in February 2011.
Shares of Vivus Inc. tumbled Thursday after an analyst said Wall Street may be over-estimating gains from initial sales of the drug developer's obesity treatment Qsymia. THE BIG PICTURE: Qsymia, Vivus' only approved drug, launched in the U.S. in September.
CNBC's Seema Mody anticipates which pharma stocks could raise their dividends in the months ahead.
Check out which companies are making headlines after the bell Wednesday.
Large regional banks continue to outperform the money center banks, despite the compelling stock price multiples for the largest bank holding companies.
Stocks finished higher for a second session Wednesday, led by techs, after Bernanke reiterated that the central bank stands ready to inject more stimulus and despite the Fed's latest lackluster "Beige Book" report.
U.S. stock index futures held their losses Wednesday ahead of a second day of Congressional testimony from Federal Reserve chairman Ben Bernanke.
Short selling is never going to be a wildly popular investing practice, but it is perfectly legal and essential for the proper function of the capital markets. I asked a biotech short seller for his thoughts on why long investors seem so hostile to short sellers and whether this animosity will compel short sellers to be even more reluctant to voice their opinions publicly.
Jim Cramer’s researcher, Nicole Urken, reiterates the importance of assessing risk when speculating.
Investors need to see this as a speculative stock and take some profits as they come in, he said.
Find out which second-quarter top performer got the most votes.
Tell Cramer which second-quarter top performer is your All-Star!
Three Vivus executives sold company stock valued at $12.5 million since the start of June even though U.S. regulators are expected to make an approval decision on weight-loss pill Qnexa next week.
With the weight loss market heating up, stocks like Arena Pharmaceuticals may be spelling out a big rally for the drug retail space.
Despite massive call buying a curious thing happened in the options pits: many people lost money. How could that be?
Shares of Arena Pharmaceuticals spiked on news the FDA approved its anti-obesity drug, with the Fast Money traders; and discussing how tomorrow's ruling on the health care reform could impact the biotech sector, with Mark Schoenebaum, ISI.
The biotech sector is up more than 1 percent today, and discussing what investors can expect after tomorrow's health care reform ruling, with ISI's biotech and pharmaceuticals major analyst Mark Schoenebaum. "If tomorrow the whole bill is struck down, technically, earnings and revenue estimates for all of biotech and all of pharma companies are going to go up," says Schoenebaum.
Arena Pharmaceuticals shares popped Wednesday after the Food and Drug Administration approved the company’s pill to treat obesity, making it the first new weight-loss drug in 13 years.
Stocks finished higher in relatively thin trading Wednesday, led by the energy sector and following a pair of better-than-expected economic reports, but investors remained cautious ahead of the two-day EU summit later this week.
Jack Lief, Arena Pharmaceuticals CEO, discusses what the drug-maker's new anti-obesity drug will mean for its bottom-line, with CNBC's Seema Mody.