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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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October 30, 2014
10:02 EDTARNAArena reports lorcaserin combo doubles weight loss in study
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09:50 EDTARNAArena Pharmaceuticals shares should go higher today, says Piper Jaffray
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09:47 EDTARNAArena Pharmaceuticals says BELVIQ U.S. quarterly sales $16.8M
Arena Pharmaceuticals disclosed that Eisai reported net sales of BELVIQ in the United States for the quarter ended September 30 of approximately $16.8M. Eisai markets and distributes BELVIQ in the United States under a marketing and supply agreement with Arena.
October 29, 2014
08:18 EDTARNAArena press release lacking key data, TheStreet's Feuerstein says
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October 28, 2014
18:25 EDTARNAArena Pharmaceuticals, Eisai study meets primary safety objective
Eisai and Arena Pharmaceuticals announced top-line results of a pilot study to assess the safety of lorcaserin HCl, a serotonin 2C receptor agonist, when coadministered with phentermine HCl. The results of the investigational study demonstrate that the short-term combination of lorcaserin plus phentermine does not appear to be associated with an exacerbation in the proportion of pre-specified adverse events compared to therapy with lorcaserin alone. The coadministration of lorcaserin and phentermine for weight management is investigational. The efficacy and safety of coadministration of lorcaserin and other weight loss products such as phentermine have not been established.

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