Thursday, July 15, 2010

Arena Pharmaceutical Pop

Shares of Arena Pharmaceutical (ARNA) got a nice pop today (up 30% at the moment) following yesterday's announcement that the New England Journal of Medicine would be publishing positive results of the two-year BLOOM (Behavioral Modification and Lorcaserin for Overweight and Obesity Management) trial. From what I read, the safety profile for Lorcaserin was better than that of current drugs used for obesity treatment, such as Xenical.

Additionally, one of Arena's main competitors, Vivus (VVUS), is currently awaiting the recommendation by the FDA advisory panel. That result should be coming out later today.

In any case, I don't have a large position in ARNA. But, it's still nice to see such a move in the stock.

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