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Friday, May 11, 2012

Biopharmaceutical Stock to Watch; Arena Pharmaceuticals (NASDAQ:ARNA) Big Moves on Lorcaserin Obesity Drug

New York, New York - May 11, 2012 - Investorideas.com, an investor research portal specializing in sector research including biotech and pharma stocks, issues a trading alert for Arena Pharmaceuticals, Inc. (NasdaqGS:ARNA) making big moves, gaining $5.82 2.16(59.02%) 10:51AM EDT on over 40 million shares in morning trading . The stock was up over 80% during earlier trading.
Arena Pharmaceuticals, Inc. (ARNA) and Eisai Inc. reported yesterday, the expansion of the lorcaserin marketing and supply agreement between Arena Pharmaceuticals, Inc.'s wholly owned subsidiary, Arena Pharmaceuticals GmbH, and Eisai Inc. Lorcaserin is an investigational drug candidate intended for weight management. In addition to the United States, the territories in the expanded agreement now include most of North and South America, including Canada, Mexico and Brazil. This expansion builds on the agreement executed by Eisai and Arena in July 2010 for Eisai's exclusive rights to market and distribute lorcaserin in the United States, subject to lorcaserin's approval by the US Food and Drug Administration (FDA).
Investorideas.com Newswire About Arena Pharmaceuticals
Arena is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing oral drugs that target G protein-coupled receptors, an important class of validated drug targets, in four major therapeutic areas: cardiovascular, central nervous system, inflammatory and metabolic diseases.
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