VIVUS Announces Departures of Eric W. Roberts and Allan L. Shaw from Board of Directors
October 28 2019 - 7:30AM
VIVUS, Inc. (Nasdaq: VVUS) (the “Company”), a biopharmaceutical
company, announced today that Eric W. Roberts and Allan L.
Shaw have resigned from its Board of Directors and all of its
committees in order to increase their focus on other personal
business interests. Mr. Roberts and Mr. Shaw joined the Board of
Directors in September 2015. The Company does not intend to replace
either of them at this time, resulting in a total of seven
directors, including six independent members.
“Serving as a director on the Board of a
publicly traded company, especially one that is significantly
transforming its business model and continually evaluating its
complex capital structure, is a substantial time commitment, and we
appreciate the substantive contributions that Eric and Allan have
made to VIVUS over the past four years,” said David Y. Norton,
Chairman of VIVUS’ Board of Directors. “I thank them for their
service on behalf of the directors and the Company’s management
team, and wish them well in their personal endeavors.”
Forward-Looking Statements
Certain statements in this press release are
forward-looking within the meaning of the Private Securities
Litigation Reform Act of 1995 and are subject to risks,
uncertainties and other factors, including risks and uncertainties
related to our ability to execute on our business strategy to
enhance long-term stockholder value; risks and uncertainties
related to our expected future revenues, operations and
expenditures; risks and uncertainties related to our, or our
current or potential partners’, ability to successfully
commercialize Qsymia; risks and uncertainties related to our
ability to sell through the Qsymia retail pharmacy network and the
Qsymia Advantage Program; risks and uncertainties related to the
timing, strategy, tactics and success of the marketing and sales of
PANCREAZE; risk and uncertainties related to the timing, strategy,
structure and success of our capital raising efforts; and risks and
uncertainties related to the impact, if any, of changes to our
Board of Directors and senior management team. These risks and
uncertainties could cause actual results to differ materially from
those referred to in these forward-looking statements. The reader
is cautioned not to rely on these forward-looking statements.
Investors should read the risk factors set forth in VIVUS’ Form
10-K for the year ended December 31, 2018 as filed on February 26,
2019, and periodic reports filed with the Securities and Exchange
Commission. VIVUS does not undertake an obligation to update or
revise any forward-looking statements.
VIVUS,
Inc. Mark Oki Chief Financial
Officeroki@vivus.com650-934-5200 |
Investor Relations: Lazar FINN PartnersDavid
CareySenior Partnerdavid.carey@finnpartners.com212-867-1768 |
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