|Written by GSCR Staff|
|Monday, 09 July 2012 09:24|
There is an interesting story today on Vivus (NASDAQ – VVUS - $28.46). The Company is scheduled to meet with the FDA regarding its obesity drug on July 17. Some people believe that it will receive approval, much like Arena Pharmaceutical (NASDAQ – ARNA - $11.55) did a couple of weeks ago. However, 3 of the top 3 members of VVUS management have sold $12.5M worth of stock in the past 5 weeks.
Does this mean management does not believe it will not receive approval? I doubt it but it is unclear as to whether it gets the nod so soon after another company. In any event, it is a reason to stay away, especially since the stock is near its year-high.
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