NEW YORK (TheStreet) -- VIVUS (VVUS) 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.
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.