Orexigen And Vivus Surge On Blood Pressure Data (OREX, VVUS)

Orexigen OREX and Vivus VVUS, both of whom have seen their weight loss drug candidates rejected by the FDA in the last year, are surging today on blood pressure data stemming from separate studies. Both Vivus and Orexigen still hope to eventually get their treatments approved by the FDA. Vivus (VVUS) said a two-year study found its weight-loss drug Qnexa also reduces blood pressure and the required use of antihypertension medications. That stock has jumped 10% to $6.94 on the positive data. Orexigen Therapeutics (OREX) said a separate one-year study showed patients using its obesity drug Contrave maintained normal blood pressure levels for a 24-hour period. OREX shares have surged around 19% on the news. Both of these names were hit very hard after their respective weight-loss drugs were rejected by FDA panels. Over the last 52-weeks, OREX shares have lost 43% and VVUS is down more than 21%.