Arena Pharmaceuticals (NASDAQ: ARNA) Jumps On FDA Response

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) shares climbed 18.50% to $1.73 on heavy volume after the company announced results for its ongoing results from a Phase 1 clinical trial of APD916, the histamine H3 receptor for the treatment of narcolepsy with cataplexy. The randomized, double-blind and placebo-controlled trial evaluated the safety, tolerability and pharmacokinetics of 1mg, 3mg and 5mg single doses of APD916. All adverse events in the trial were mild or moderate in nature. No serious adverse events were reported nor were there any significant safety issues with respect to vital signs, electrocardiography or laboratory testing. Earlier in the month of September shares of ARNA lunged about 50% in a single day when a Food and Drug Administration advisory committee rejected the company's most awaited drug, lorcaserin. Numbers of investors were disappointed after the results as most of them were expected a positive response about the drug. Several investors assumed Arena’s pill safer than rival drugs. They were surprised when the FDA staff and the agency’s outside advisers rejected in September. FDA reviewers said lorcaserin was only modestly effective in trimming pounds and had some safety issues. Shares of ARNA today made a new 52-week low of $1.45%. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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