Arena Pharmaceuticals, Inc.NASDAQ
Mon, Aug. 8, 4:18 PM
Sun, Aug. 7, 5:35 PM
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Tue, Jul. 19, 9:14 AM
Thu, Jul. 14, 9:15 AM
Thu, Jun. 30, 4:38 PM
- With the aim of reducing operating expenses, Arena Pharmaceuticals (NASDAQ:ARNA) cuts 73% of its workforce (~100 employees), primarily from research, manufacturing and G&A. The downsizing will be completed by the end of August.
- The company expects to record a $6.1M charge in Q2 for severance-related costs. It expects annualized cash expenses for personnel to drop ~$17M and other related expenses by $6M - 8M. Further cost control measures will be instituted in the near future, including headcount reductions at its Swiss manufacturing site.
- Arena plans to focus its efforts on three pipeline programs: etrasimod (APD334) for ulcerative colitis and potentially for inflammatory bowel disease, APD371 for the treatment of pain and ralinepag (APD811) for pulmonary arterial hypertension.
- Management will further update investors during its Q2 earnings call.
Wed, Jun. 15, 7:54 AM
- Arena Pharmaceuticals (ARNA) announces that Kevin R. Lind will be appointed as Executive Vice President and Chief Financial Officer, effective June 15. Mr. Lind will report to Amit D. Munshi, Arena's President and CEO.
- Previously, Mr. Lind was with TPG serving as a Principal at TPG Special Situations.
Mon, May 9, 4:37 PM
Sun, May 8, 5:35 PM
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Tue, Apr. 12, 9:17 AM
- Arena Pharmaceuticals (NASDAQ:ARNA) is up 8% premarket on increased volume in response to its announcement of positive results in a Phase 1b multiple-ascending dose study of APD371, a cannabinoid 2 (CB2) receptor agonist with the potential to treat pain. According to the company, targeting the CB2 receptor may avoid or reduce the potential for the dependence or abuse associated with opioids while avoiding the adverse event profile associated with NSAIDs.
- The double-blind, placebo-controlled trial randomized 36 healthy adult volunteers into three arms (nine active, three placebo). Subjects received either 50 mg, 100 mg or 200 mg of APD371 or placebo three times per day for 10 days. The objective was to assess safety, tolerability and pharmacokinetics of ascending doses of APD371. Drug levels for all groups were well above those needed to stimulate the CB2 receptor.
- Adverse events were all mild with the most common being headache and nausea. Reductions in blood pressure and heart rate were observed, but none were symptomatic. There was one discontinuation in the 200 mg cohort due to mild thirst and drowsiness.
- The company does not provide its specific plans to advance APD371.
- Read now Arena: Belviq Sales Going Bust
Tue, Apr. 12, 9:12 AM
Fri, Apr. 1, 3:47 AM
- While the rates of obesity have leveled off in some countries where it's already a public health concern, other places are seeing their obesity rates increase, propping up the global average.
- "Over the past four decades, we have transitioned from a world in which underweight prevalence was more than double that of obesity, to one in which more people are obese than underweight," according to a study published in The Lancet.
- By 2025, one-fifth of adults around the world are forecast to be obese, including 40% of adults in the U.S.
- Related tickers: NUTR, PLNT, WTW, NTRI, FIT, HLF, VVUS, ARNA, GNC, MED, NATR, OREX, LTM, FINL
Tue, Mar. 1, 9:46 AM
- Arena Pharmaceuticals (ARNA -6.7%) Q4 results: Revenues: $7.8M (-15.2%); R&D Expense: $20.2M (-27.3%); SG&A: $9.7M (+9.0%); Net Loss: ($30.5M) (+5.0%); Loss Per Share: ($0.13) (+13.3%).
- FY2015 results: Revenues: $38.3M (+3.5%); R&D Expense: $88.4M (-11.9%); SG&A: $36M (+5.6%); Net Loss: ($108M) (-78.5%); Loss Per Share: ($0.45) (-60.7%); Quick Assets: $156.2M (-4.3%).
- 2016 Guidance: R&D Expenses: ~$89M - 98M; G&A Expenses: ~$27M - 33M; CAPEX: ~$1M - 2M.
Mon, Feb. 29, 4:14 PM
- Arena Pharmaceuticals (NASDAQ:ARNA): Q4 EPS of -$0.13 in-line.
- Revenue of $7.8M (-15.1% Y/Y) misses by $0.46M.
Sun, Feb. 28, 5:35 PM
Wed, Jan. 13, 9:17 AM
Tue, Jan. 12, 4:52 PM
- Arena Pharmaceuticals (NASDAQ:ARNA) and privately held Boehringer Ingelheim (BI) enter into an exclusive agreement to conduct joint research to identify drug candidates targeting an undisclosed G protein-coupled receptor (GPCR), which is a member of a group of orphan central nervous system (CNS) receptors that play a key role in mental illness. An orphan receptor is similar to a family of proteins that are known to be functional cell surface receptors but its ligand (signal-triggering molecule) has not been identified.
- BI will have exclusive worldwide rights to develop, manufacture and commercialize all products resulting from the partnership. Arena will be eligible to receive up to $262M in milestones, an upfront payment and research funding as well as tiered royalties on net sales. Additional details are not disclosed.