VIVUS had cash, cash equivalents and available-for-sale securities of $144.2 million at June 30, 2009, as compared to $189.2 million at December 31, 2008. The decrease in cash, cash equivalents and available-for-sale securities of $45 million is the net result of cash used for operating and investing activities partially offset by cash provided by financing activities, including $6.7 million in cash from the Deerfield financing received in the first six months of 2009.

Qnexa Update

The phase 3 Qnexa development program remains on schedule. In total, over 3,750 patients were enrolled in two 56-week studies. The EQUIP study (OB-302) will determine the impact of Qnexa on patients that are considered morbidly obese (BMI>35). The CONQUER study (OB-303) enrolled patients that are considered overweight (BMI>27) with at least two co-morbidities including high blood pressure, high cholesterol and type 2 diabetics. Top-line results for both of these studies are expected in the third quarter of 2009.

"The highlight of the second quarter was the two podium presentations of Qnexa at this year's American Diabetes Association Scientific Session. The medical and scientific communities have long recognized the link between obesity and type 2 diabetes. Now they are beginning to recognize the importance of weight loss in the treatment of type 2 diabetes. The top-line results from the year-long studies of Qnexa for the treatment of obesity are expected in the third quarter of 2009. Progress on the preparation of the NDA for Qnexa in obesity also remains on schedule for an expected filing by the end of 2009," stated Leland Wilson, president and chief executive officer of VIVUS. "Pivotal studies for avanafil for the treatment of erectile dysfunction are also in process, with results expected in the fourth quarter of 2009."

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