NEW YORK (TheStreet) -- VIVUS (VVUS - Get Report) surged Tuesday after the pharmaceutical company crushed analysts' estimates with its first-quarter report despite a sequential dip in prescriptions of Qsymia, its obesity treatment drug.
The company reported a loss of 13 cents a share, excluding items, compared to the loss of 53 cents a share in the same period one year earlier. This was far narrower than the estimate of a loss of 37 cents a share from analysts polled by Thomson Reuters.
First-quarter revenue totaled $36.7 million, up year over year from $4.1 million. This smashed the Zacks Consensus Estimate of $12 million. Revenue included $19.4 million in license and milestone revenue, $7.4 million in supply revenue and $0.8 million in royalty revenue tied to the erectile dysfunction drug Stendra.
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Vivus also reported approximately 121,000 Qsymia prescriptions dispensed in the first quarter, down from 124,000 in the fourth quarter 2013.
The stock was up 11.75% to $5.80 at 10:43 a.m.