New options up in Arena Pharmaceuticals, Inc (NASDAQ:ARNA) space
Last week, Arena Pharmaceuticals, Inc (NASDAQ:ARNA) investors saw some new options becoming available. These are for the 2014 April expiration date. Amongst Biotech investors, ARNA stock has always been controversial. The bulls strongly believe that since obesity is on the rise on the global level, it will automatically trigger higher sales of BELVIQ the company’s newly launched anti-obesity drug.
The drug received the nod from the United States Food Drug Administration last June. The other side of the coin is that the bears feel there is a cloud of safety concerns over BELVIQ and the fact that the company insists on combining this treatment with other medicines may create some trouble in the future.
Trading session report
In Tuesday’s trading session ARNA stock dropped 3.55%. The opening price of the share was $6.96 which rose to an intraday high of $7.00 and closed at $6.80. More than 3.78 million shares were traded on Tuesday while the average volume of shares traded over 30 days was 5.30 million. The company has a market cap of $1.48 billion.
ARNA is a biopharma company that focuses on the discovery, development and commercialization or various drugs that target the G-protein coupled receptors. Arena Pharmaceuticals GmbH (Arena GmbH), its 100%-owned subsidiary has granted Eisai Inc the rights to commercialize its anti-obesity drug BELVIA, in the United States. In 2012 June, The U.S FDA gave its approval for BELVIQ. This drug is used to manage weight in adults
who suffer from obesity.
Some of the company’s oral drug- candidates are- APD811 is an agonist of the prostacyclin-receptor. It is used in the treatment of pulmonary arterial-hypertension. Temanogrel is an inverse-agonist of the serotonin 2A-receptor. This is used to treat thrombotic diseases. APD334 is an agonist of the S1P1- receptor and is used to treat autoimmune diseases.