BOSTON ( TheStreet) -- Four FDA drug approval decisions in July -- headlined by another weight-loss drug and a prescription fish oil pill with blockbuster potential -- will keep biotech investors busy in what is normally one of the sector's slower months.
(VVUS) is expected to learn the fate of its weight-loss pill Qnexa on Tues. July 17. Recall, FDA was supposed to rule on Qnexa in April but delayed the decision by three months in order to review a risk management plan ensuring safer use of the drug.
Shares of Vivus are up 24% since the company announced the Qnexa regulatory delay in early April, largely because investors interpreted it as a vote of confidence in the drug's eventual approval.
Seventy-seven percent of contestants in
Summer FDA Drug Approval Contest predict Qnexa's full approval on July 17 against 19% predicting the drug's rejection.
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