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Stock Market & Financial Investment News

News Breaks
January 22, 2013
09:00 EDTARNAArena Pharmaceuticals falls 7.2%
Arena Pharmaceuticals is down 7.2%, or 70c, to $9.07
News For ARNA From The Last 14 Days
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May 17, 2013
11:53 EDTARNAOptions with decreasing implied volatility: SGMO ARNA CSC ENDP
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May 15, 2013
14:03 EDTARNAArena Pharma has positive read through from Eisai forecast, says Piper Jaffray
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06:19 EDTARNAArena Pharmaceuticals implied volatility at lower end of index mean range
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May 8, 2013
05:52 EDTARNAStocks with implied volatility movement; ARNA ANR
Stocks with implied volatility movement; Arena Pharmaceuticals (ARNA), Alpha Natural (ANR) according to IVolatility.
May 7, 2013
16:54 EDTARNAOn The Fly: Closing Wrap
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15:33 EDTARNAArena to receive $65M in milestone payments from Eisai related to Belviq
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14:16 EDTARNAArena climbs after DEA takes action on anti-obesity drug
Arena Pharmaceuticals (ARNA) is rallying after the Drug Enforcement Administration determined that the company's anti-obesity drug, lorcaserin, has relatively low potential for abuse. In a note to investors, research firm Piper Jaffray wrote that the DEA's action indicates that lorcaserin will be launched in the U.S. on or around June 7. WHAT'S NEW: The DEA announced in a written statement that it was declaring lorcaserin to be a Schedule IV drug. Schedule IV drugs are defined as drugs with a low potential for abuse and low risk of dependence, according to the Justice Department. In a note to investors, Piper Jaffray analyst Edward Tenthoff predicted that Arena's partner, Eisai, would launch lorcaserin in the U.S. on or around June 7. In addition, the DEA's action will trigger payments of $65M to Arena from Eisai this quarter, according to the analyst. Lorcaserin should generate revenue of $22M this year and $141M next year for Arena, added the analyst, who kept an Overweight rating on the stock. TODAY'S PRICE ACTION: In mid-afternoon trading, Arena gained 85c, or 11.30%, to $8.37.
12:58 EDTARNAOn The Fly: Midday Wrap
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10:43 EDTARNADEA places Arena weight loss drug into Schedule IV
The Drug Enforcement Administration issued a final ruling that places the substance lorcaserin into Schedule IV of the Controlled Substances Act. Lorcaserin, a weight-loss drug developed by Arena Pharmaceuticals, is also known by the trade name Belviq. In issuing the ruling, the DEA denied a request to waive a 30-day waiting period for launch following the scheduling. Reference Link

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