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Stock Market & Financial Investment News

News Breaks
April 3, 2014
12:40 EDTVVUS, OREX, ARNAVIVUS retreats after analyst cuts rating to sell equivalent
Shares of VIVUS (VVUS), which has developed an anti-obesity drug, are declining after research firm Piper Jaffray downgraded the stock in a note to investors earlier today. WHAT'S NEW: Piper analyst Charles Duncan wrote that he was "increasingly wary" about the outlook for VIVUS' anti-obesity drug, Qsymia. Prescription trends for the drug are "underwhelming," while VIVUS has so far failed to find a U.S. marketing partner for the drug, the analyst explained. Moreover, a competing anti-obesity drug, Orexigen's (OREX) Contrave, is expected to be launched in the second half of this year, Duncan wrote. He now expects VIVUS to generate revenue of $53M for Qsymia, versus what he said was the consensus outlook of $92M. Duncan cut his rating on the stock to Underweight, the equivalent of a sell, from Neutral and slashed his price target on the shares to $3 from $8. WHAT'S NOTABLE: Despite the downgrade, Duncan wrote that he continues to believe the U.S. anti-obesity market outlook is improving. Arena Pharmaceuticals (ARNA) has also developed an anti-obesity drug. Belviq. PRICE ACTION: In early afternoon trading, VIVUS fell 8% to $5.70, Orexigen dropped 4.3% to $6.20, and Arena fell 3.6% to $6.45.
News For VVUS;OREX;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.
October 20, 2014
08:08 EDTOREXOrexigen and Takeda announce availability of Contrave tablets for patients
Takeda Pharmaceutical, its wholly-owned subsidiary Takeda Pharmaceuticals U.S.A. and Orexigen Therapeutics jointly announced that Contrave extended-release tablets are now available to patients by prescription in pharmacies across the U.S.. Contrave is approved by the FDA as an adjunct to a reduced-calorie diet and increased physical activity for chronic weight management in adults with an initial body mass index of 30 kg/m2 or greater, or 27 kg/m2 or greater in the presence of at least one weight-related comorbid condition.

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