Vivus CEO Leland Wilson thinks the weight loss pill Qnexa will be approved by the FDA on April 17th. He said the drug targets those who are obese and show increased blood sugar levels, blood pressure and cholesterol readings. And they’re looking for partner for overseas expansion of the drug. They will raise capital at some point down the road. Based on the preliminary advisory committee’s 20-2 vote, he’s confident the drug will get final approval.
Vivus’s stock has rocketed up this week from $10 a share to $24? That’s a 140% leap higher. How much higher can it go leading up to the FDA announcement or is it time to sell your shares?