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Wed, Jan. 13, 9:17 AM
Dec. 1, 2015, 9:22 AM
Nov. 11, 2015, 9:16 AM
Oct. 30, 2015, 9:12 AM
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.
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
Apr. 29, 2015, 9:17 AM
Mar. 24, 2015, 5:35 PM
Mar. 3, 2015, 1:03 PM
- Orexigen Therapeutics (OREX +53%) short sellers are licking their wounds today. Shares are up on a whopping 22x surge in volume in response to the news that patients taking its obesity med Contrave (naltrexone HCl/bupropion HCl) may reduce their risk of having a heart attack by almost 50%.
- The data behind the news comes from an interim analysis of the 9,000-patient LIGHT study which is being conducted to determine the heart-safety profile of the obesity med. The analysis showed patients receiving Contrave experienced 35 major adverse cardiac events (MACE) compared to 59 for those taking placebo. The benefit was statistically significant. A MACE is a heart attack, stroke or heart-related death.
- The company will conduct a second interim analysis of the data at 50% of events, which should happen in the next several weeks. Orexigen is also required to run a second heart-safety study as a condition of its clearance by the FDA in September 2014.
- Contrave is sold in the U.S. by Takeda Pharmaceutical Co. (OTCPK:TKPHF) (OTCPK:TKPYY).
- According to Yahoo Finance, almost 42% of Orexigen's float (more than 38M shares) was sold short as of February 13.
- Related tickers: (VVUS +4.3%)(ARNA -5.5%)
Jan. 21, 2015, 9:14 AM
Jan. 20, 2015, 5:38 PM
Jan. 20, 2015, 9:16 AM
Arena Pharmaceuticals Inc is a biopharmaceutical company. The Company is engaged in discovering, developing and commercializing novel drugs that target G protein-coupled receptors, or GPCRs, to address unmet medical needs.
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