real-time news and commentary for investors
Friday, Nov 1
Belviq sales disappoint, Arena slides
- Shares of Arena Pharmaceuticals (ARNA) are down 4.5% in premarket trading on the heels of Belviq partner Eisai's H1 results.
- Belviq sales for the six months ended September 30 were just $9M.
- Backing out the $4.13M in sales the weight-loss drug saw during Eisai's FQ1 means quarterly sales were somewhere around $4.8-4.9M.
- ARNA recognizes 31.5% of Belviq sales, equating to ~$1.53M for the quarter — consensus is $5.45M.