VIVUS (VVUS) Posts Strong Profit Growth; Apricus Biosciences (APRI) Soars on Vitaros Deal
VIVUS, Inc. (Nasdaq:VVUS) shares surged more than 20% in after-hours trading Wednesday as the company delivered strong profit and revenue growth in its quarterly financial results, driven by a $70 million license payment from Metuchen Pharmaceuticals for STENDRA commercial rights in certain countries.
For the fourth quarter 2016, VIVUS posted revenue of $81.8 million, a 434.6% increase year over year, and net income of $56.56 million, or $0.54 per diluted share, compared to net loss of ($12.19) million, or ($0.12) per diluted share in the same period the prior year.
VVUS stock finished the regular session in negative territory by 3.70% (or -$0.04) at $1.04 with a total volume of 1.25M shares traded.
VIVUS, which develops and commercializes innovative, next-generation therapies to address unmet medical needs in human health, has 104.84M shares outstanding and VVUS stock 52-week range is from $0.93 to $1.85 per share. At close on Wednesday, the company had a market capitalization of $108.04M
Shares of Apricus Biosciences Inc. (Nasdaq:APRI) climbed over 30% in the extended session Wednesday after the company said that it sold assets and rights for Vitaros outside of the United States to Ferring International Center S.A., while retaining rights for the erectile dysfunction treatment in the country.
The deal calls, among other things, for Ferring to pay Apricus $11.5 million upfront – upon closing – and up to $700,000 for certain product inventory.
APRI stock closed at $2.79, up $0.02 (or +0.72%) and 300,673 of its shares changed hands during the day.
Apricus Biosciences, which focuses on the development and commercialization of products and product candidates in the areas of urology and rheumatology, has 7.73M shares outstanding, market capitalization (intraday) of $21.50M and APRI stock one-year range is between $1.10 and $15.40 per share.
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