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VVUS: Brean Murray says it's a dog!

17-Feb-12 14:14 ET

VVUS

Vivus: Brean Murray discusses briefing documents -- says they do not assuage concern and two panels means two chances to lose (11.57 +0.39) -Update
Brean Murray believes there is no need to grant the approval of Qnexa now. This is why they believe that the FDA will err on the side of caution and require cardiac outcome trials without much concern for the time delay it would cause VVUS. They think the CV panel in March is absolute necessity for the FDA, even in the event that the Feburary 22nd panel gives Qnexa the thumbs up. Furthermore, unless the the CV panel unanimously agrees that there is no CV risk, they think the most likely outcome will be a CV outcomes trial. Firm has a $2 tgt based on VVUS current cash position.