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. TheÂ 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.
Arena Pharma produces positive insomnia data. Report
Arena prepares pivotal trial on obesity drug. Report
Arena reports successful lorcaserin trial. Report
The Biotech Haunted House. Report