Forget Arena Vs. Vivus - Zafgen May Be The Ultimate Winner
Stephen Simpson, CFA • 44 Comments
Stephen Simpson, CFA • 44 Comments
Nov. 11, 2015, 9:16 AM
Nov. 11, 2015, 6:57 AM
- Arena Pharmaceuticals (ARNA -7.8%) Q3 results: Revenues: $9.1M (+11.0%); R&D Expense: $22.1M (-9.8%); SG&A: $9M (+12.5%); Net Loss: ($26.4M) (-146.7%); Loss Per Share: ($0.11) (-120.0%); Quick Assets: $181.3M (+11.1%).
- No guidance given.
Nov. 10, 2015, 4:03 PM
- Arena Pharmaceuticals (NASDAQ:ARNA): Q3 EPS of -$0.11 beats by $0.02.
- Revenue of $9.14M (+12.0% Y/Y) in-line.
Nov. 9, 2015, 5:35 PM
Oct. 30, 2015, 9:12 AM
Oct. 27, 2015, 4:34 PM
- Arena Pharmaceuticals (NASDAQ:ARNA) announces an initiative to reduce costs and improve efficiency. Key points:
- Resources will be focused on advancing APD334, ralinepag (APD811) and APD371; supporting Eisai (OTC:ESALF) (OTCPK:ESALY) in BELVIQ CV outcomes trial and regulatory clearance of BELVIQ XR; maintaining its core research function; assessing strategic collaboration opportunities and meeting manufacturing obligations while reducing overhead.
- 35% (80 employees) of the company's U.S. workforce will be cut by year end which will reduce annual cash expenses by ~$11M per year. Additional cost saving measures will be instituted at the company's Swiss manufacturing facility, Arena Pharmaceuticals GmbH. The company will take a $3.3M restructuring charge in Q4.
- Shares are up 2% after hours on increased volume.
Oct. 5, 2015, 5:41 PM
Oct. 5, 2015, 4:41 PM
- At the board's request, Arena Pharmaceuticals' (NASDAQ:ARNA) President & CEO Jack Lief retires. Director Harry Hixson, Ph.D., will take over on an interim basis until a permanent successor is hired.
Aug. 5, 2015, 4:24 PM
- Arena Pharmaceuticals (NASDAQ:ARNA): Q2 EPS of -$0.11 beats by $0.03.
- Revenue of $9.18M (-28.3% Y/Y) misses by $1.77M.
- Shares -0.2%.
Aug. 4, 2015, 5:35 PM
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Jul. 15, 2015, 10:36 AM
- Celgene's (CELG +9.5%) $7.2B deal for Receptos (RCPT +10.3%) is “a great acquisition at a great price," Nomura analysts say, as ozanimod could enable CELG's inflammation and immunology franchise to double peak sales to $10B and reduce reliance on Revlimid to drive future growth, and the acquisition price of less than 2x peak sales is a steep discount relative to recent comparisons.
- Wedbush analyst Liana Moussatos sees plenty of potential upside to justify a rival bidder stepping in for RCPT, noting that she had estimated the company could be valued at $348/share, or ~$10.9B, in a buyout, substantially more than CELG's $232 offer.
- The deal is boosting some biotech names (IBB +1.9%), including PTC Therapeutics (PTCT +11.7%), Celsion (CLSN +7.1%) and Arena Pharmaceuticals (ARNA +6.7%).
Jul. 15, 2015, 9:15 AM
Jun. 30, 2015, 5:36 PM
Jun. 19, 2015, 5:36 PM
Jun. 16, 2015, 5:04 PM| Jun. 16, 2015, 5:04 PM | 11 Comments
May 27, 2015, 11:07 AM
- Results from the SCALE Obesity and Prediabetes three-year extension study show that ongoing treatment with Novo Nordisk's (NVO +0.2%) Saxenda (liraglutide 3 mg), in combination with a reduced-calorie diet and increased physical activity, delayed the onset of type 2 diabetes in adults that were either obese or overweight with comorbidities and had prediabetes at baseline.
- Over the course of the 160-week blinded Phase 3a trial, the time to onset of type 2 diabetes was 2.6x longer in the Saxenda cohort compared to placebo. The risk of developing type 2 diabetes was reduced by ~80%.
- At week 160, patients receiving Saxenda experienced an average weight loss of 6.1% from baseline compared to 1.8% for placebo. Almost 50% of the Saxenda group (49.6%) achieved a clinically meaningful weight loss of at least 5% from baseline versus 23.4% for placebo. The proportion of patients in each group who lost at least 10% of their body weight compared to baseline was 24.3% and 9.4%, respectively.
- The FDA approved Saxenda for the treatment of obesity in December 2014. The EMA approved it in March. It won't come cheap, though. In the U.S., it will cost over $1,000 per month.
- Previously: Novo's obesity drug will cost U.S. patients over $1,000 per month (April 22)
- Related tickers: (VVUS -1.2%)(ARNA -1.7%)(OREX -1.1%)
Arena Pharmaceuticals, Inc. is a biopharmaceutical company, which focuses on discovery, development and commercialization of drugs in the therapeutic areas such as cardiovascular, central nervous system, inflammatory and metabolic diseases. Its product pipeline includes Lorcaserin, APD334,... More
Country: United States
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