Arena Pharmaceuticals has announced the pricing of its public offering of 11,000,000 shares of its common stock at a public offering price of $9.91 per share. All of the shares are being offered by Arena. The CIBC World Markets and UBS Investment Bank are acting as joint book-running managers. In late September, Arena announced positive preliminary results from its Phase 2 clinical trial of APD125 in patients with chronic insomnia. Its lead drug is lorcaserin hydrochloride, which is in a pivotal late-stage study for the treatment of obesity. The compound stimulates the 5-HT2C serotonin receptor, located in the hypothalamus, an area of the brain associated with the control of satiety and metabolism.
- check out Arena's release [1]
- see this article [2]Â for more
Related Articles:
Arena Pharma produces positive insomnia data. Report [3]
Arena prepares pivotal trial on obesity drug. Report [4]
Arena reports successful lorcaserin trial. Report [5]
The Biotech Haunted House. Report [6]
Links:
[1] http://www.fiercebiotech.com/press-releases/press-release-arena-pharmaceuticals-raises-109-million
[2] http://biz.yahoo.com/ap/071102/arena_pharma_stock_offering.html?.v=1
[3] http://www.fiercebiotech.com/story/arena-pharma-produces-positive-insomnia-data/2007-09-25
[4] http://www.fiercebiotech.com/story/arena-prepares-pivotal-trial-on-obesity-drug/2006-03-29
[5] http://www.fiercebiotech.com/story/arena-reports-successful-lorcaserin-trial/2006-06-13
[6] http://www.fiercebiotech.com/story/the-biotech-haunted-house/2006-11-03