VIVUS, Inc. (VVUS) saw its loss narrow to $9.15 million, or $0.09 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $16.11 million, or $0.15 a share.

Revenue during the quarter plunged 46.45 percent to $13.35 million from $24.94 million in the previous year period. Gross margin for the quarter expanded 3172 basis points over the previous year period to 84.54 percent. Operating margin for the quarter stood at negative 6.35 percent as compared to a negative 32.20 percent for the previous year period.

Operating loss for the quarter was $0.85 million, compared with an operating loss of $8.03 million in the previous year period.

"In the third quarter of 2016, we continued our efforts to reshape VIVUS to build long-term stockholder value related to our business strategy review. The licensing of STENDRA to Metuchen Pharmaceuticals, combined with our continued efforts to control costs, provides us with additional capital to find, acquire and develop additional assets," said Seth H. Z. Fischer, VIVUS chief executive officer.
 

Cash conversion cycle (CCC) has increased to 156 days for the quarter from 32 days for the last year period. Days sales outstanding went up to 71 days for the quarter compared with 46 days for the same period last year.

Days inventory outstanding has increased to 251 days for the quarter compared with 74 days for the previous year period. At the same time, days payable outstanding went up to 477 days for the quarter from 88 for the same period last year.