Health Winners & Losers: Acadia

The company said Tuesday that it expects to report a significantly reduced net loss of less than $12.5 million for 2008, vs. a net loss of $44.3 million in the prior year.

Then pharmaceutical company Vivus(VVUS Quote) said Monday post market close that it earned 6 cents a share, vs. a loss of 11 cents a share a year prior, on revenue of $25.3 million, up from $4.1 million. The increases were due primarily to the recognition of $20.9 million in deferred license revenue from the sale of Evamist to K-V Pharmaceutical in 2007.

On Tuesday, Vivus said it entered into agreements with a group of institutional investors to sell 8,365,508 shares of common stock for $7.77 a share in a registered direct offering. The company expects proceeds of roughly $65 million before expenses to go toward general corporate purposes, and fund clinical trials, including the advancement of the clinical program for obesity and diabetes treatment Qnexa.

Vivus shares rose 91 cents, or 10.9%, to $9.25 on Tuesday despite a downgrade by RBC Capital markets to sector perform from outperform.

Acadia, Santarus and Vivus are all components of the Nasdaq biotechnology index, which was up 13.18, or 1.5%, at 915.88. The Amex pharmaceutical index, was slightly more zealous, rising 2.4% to 315.11.