Vivus raises $65 million

Vivus (NASDAQ:VVUS) raised $65 million through the sale of 8.4 million shares at $7.77 in a registered direct offering to undisclosed institutional investors. The share price is a 7% discount to Vivus' close of $8.34 on Monday, before the deal was announced. Trout Capital was the placement agent for the shares, which were sold from a shelf registration.

Separately, Vivus reported late Monday 2Q08 EPS of $0.06, compared with a loss per share of $0.11 in the prior year's quarter. The Street was expecting a loss per share of $0.03. Vivus attributed the results primarily to recognition of deferred license revenue earned from the 2007 sale of U.S. rights to Evamist estradiol transdermal spray to KV (NYSE:KVA). Vivus received U.S. rights to Evamist, which is marketed to treat vasomotor symptoms due to menopause, from Acrux (ASX:ACR). ...