Vivus (NASDAQ: [[ticker:VVUS]]), the Mountain View, CA-based developer of drugs for obesity and erectile dysfunction, said today it has raised $45.8 million in a stock offering. The company agreed to sell about 6.9 million shares of stock at $6.65 apiece. Funds managed by QVT Financial were the lead investors in the deal, while two other existing investors participated, Vivus said. The stock offering was priced at about a 6.5 percent discount to yesterday’s closing stock price of $7.10.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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