Markets were were weak, but it's trading near offering price. Same happened with HGSI (offering $14, low $12.70) and DNDN (offering $19.20). Weak hands, those trading for pennies or are in short term, will be shaken out and greedy big boys are doing everything to get as many shares as they can. Big money, funds, bought even all the optional shares from offering at $10.50. Billions of u.s. dollar are to be made with VVUS within a year.
I'm reading the phase III facts of Qnexa and it tells me that this drug could be $5+ bln sales blockbuster. So, I'm buying, buying, buying to go long.
Major pharmas did spend 10s of billions us dollar to develop a safe and highly efficient obesity drug, but they failed. VVUS did it with Qnexa.