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Stock Market & Financial Investment News

News Breaks
January 22, 2013
10:38 EDTARNAArena sinks after E.U. raises objections to weight loss drug
Arena Pharmaceuticals (ARNA) is sinking after the company reported earlier this morning in a regulatory filing that the European Medicines Agency had asked it to address issues with its anti-obesity drug, lorcaserin. The E.U. regulator raised objections to lorcaserin based on previously identified risk factors for patients taking the drug, including hypertension, cardiovascular disease, type 2 diabetes, and sleep apnea, Arena reported. The company will have to address the issues before the drug can be approved by the E.U., Arena stated, adding that the regulator is still expected to make a decision on the drug in the first half of 2013. In a note to investors earlier today, Piper Jaffray analyst Edward Tenthoff wrote that the E.U. regulator wants Arena to justify the drug's overall risk/reward benefit. Arena doesn't have a partner for the drug in Europe yet, and will probably not be able to obtain one until it clears up the issues raised by the regulator, the analyst added. Tenthoff reiterated an $11 price target and Overweight rating on the shares, which dropped 64c, or 6.55%, to $9.12 in mid-morning trading.
News For ARNA From The Last 14 Days
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January 23, 2015
10:02 EDTARNAOn the Fly: Analyst Initiation Summary
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05:57 EDTARNAStocks with implied volatility below IV index mean; ORCL ARNA
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January 22, 2015
16:15 EDTARNAArena Pharmaceuticals initiated with a Sector Perform at RBC Capital
05:56 EDTARNAStocks with implied volatility below IV index mean; BBRY ARNA
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January 21, 2015
09:16 EDTARNAOn The Fly: Pre-market Movers
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09:10 EDTARNAArena Pharmaceuticals 21M share Spot Secondary priced at $5.00
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08:51 EDTARNAArena Pharma sells 21M shares to Leucadia's Jefferies and Piper Jaffray
Arena Pharmaceuticals (ARNA) has sold 21M shares of common stock to Jefferies, a subsidiary of Leucadia (LUK) and to Piper Jaffray (PJC) as underwriters for its previously announced public offering. The offering is expected to close on or about January 26. In addition, Arena has granted the underwriters a 30-day option to purchase up to an aggregate of 3M additional shares of common stock. Arena anticipates using the net proceeds from the offering for the clinical and preclinical development of drug candidates, for discovery research for new drug candidates, and for general corporate purposes.
05:58 EDTARNAStocks with implied volatility below IV index mean; BBRY ARNA
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January 20, 2015
18:30 EDTARNAOn The Fly: After Hours Movers
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17:19 EDTARNAArena Pharmaceuticals cash, cash equivalents as of Dec. 31 $163.2M
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16:05 EDTARNAArena Pharmaceuticals files to sell common stock, no amount given
Jefferies LLC and Piper Jaffray & Co. are acting as joint book-running managers for the offering.
09:10 EDTARNAArena sees Q4 Belviq sales down 35%-45% vs. Q3
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06:08 EDTARNAStocks with implied volatility below IV index mean; BBRY ARNA
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January 16, 2015
06:10 EDTARNAStocks with implied volatility below IV index mean; BBRY ARNA
Stocks with implied volatility below IV index mean; BlackBerry (BBRY) 63, Arena Pharmaceuticals (ARNA) 86 according to iVolatility.

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