ARNA Arena Pharmaceuticals Inc.

63.7
+0.6  (+1%)
Previous Close 63.1
Open 64
52 Week Low 32.95
52 Week High 69.75
Market Cap $3,609,371,821
Shares 56,662,038
Float 56,613,250
Enterprise Value $2,558,058,597
Volume 127,325
Av. Daily Volume 847,262
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Upcoming Catalysts

Drug Stage Catalyst Date
Etrasimod
Atopic dermatitis (AD)
Phase 2
Phase 2
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Olorinab
Irritable Bowel Syndrome
Phase 2b
Phase 2b
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Etrasimod
Crohn's disease
Phase 2b
Phase 2b
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Etrasimod
Ulcerative colitis
Phase 3
Phase 3
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Drug Pipeline

Drug Stage Notes
Lorcaserin
Obesity
Approved
Approved
Approved June 27, 2012.

Latest News

  1. SAN DIEGO, June 18, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that on June 15, 2020, the Compensation Committee of its Board of Directors granted inducement stock options to purchase an aggregate of 80,250 shares of its common stock to 12 new employees and 12,360 inducement restricted stock units ("RSUs") to 11 new employees. The inducement stock options and RSUs have a grant date and vesting commencement date of June 15, 2020, and were granted as inducements material to the new employees entering into employment with Arena in accordance with Nasdaq Listing Rule 5635(c)(4).

    The inducement stock options are non-qualified stock options, have a seven-year term, have an exercise price of $63.11 per share, the…

    SAN DIEGO, June 18, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that on June 15, 2020, the Compensation Committee of its Board of Directors granted inducement stock options to purchase an aggregate of 80,250 shares of its common stock to 12 new employees and 12,360 inducement restricted stock units ("RSUs") to 11 new employees. The inducement stock options and RSUs have a grant date and vesting commencement date of June 15, 2020, and were granted as inducements material to the new employees entering into employment with Arena in accordance with Nasdaq Listing Rule 5635(c)(4).

    The inducement stock options are non-qualified stock options, have a seven-year term, have an exercise price of $63.11 per share, the closing price of Arena's common stock on the grant date, and vest over four years, with 25% of the shares vesting on the one-year anniversary of the vesting commencement date and the remaining 75% of the shares vesting in equal monthly installments over the following 36 months, subject to the new employee's continued service with Arena through the applicable vesting dates. The inducement RSUs vest over four years, with 25% of the shares vesting on the first quarterly vesting date following the one-year anniversary of the vesting commencement date and the remaining 75% of the shares vesting in equal quarterly installments over the following 12 quarters, subject to the new employee's continued service with Arena through the applicable vesting dates. The inducement stock options and inducement RSUs are subject to the terms and conditions of Arena's 2020 Long-Term Incentive Plan.

    About Arena Pharmaceuticals

    ARENA Pharmaceuticals is a team with a singular purpose – deliver our important medicines to patients.

    In a rapidly changing global market, we work with a sense of urgency every day to understand the needs of all our stakeholders, identify bold, sometimes disruptive, ideas to get our medicines to patients, and relentlessly execute until it's done.

    ARENA - Care More. Act Differently.

    Forward-Looking Statements

    Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements include statements about Arena's position, drive, portfolio, prioritization, financial position, team, and building of the company. For such statements, Arena claims the protection of the Private Securities Litigation Reform Act of 1995. Actual events or results may differ materially from Arena's expectations. Factors that could cause actual results to differ materially from the forward-looking statements include those disclosed in Arena's filings with the Securities and Exchange Commission. These forward-looking statements represent Arena's judgment as of the time of this release. Arena disclaims any intent or obligation to update these forward-looking statements, other than as may be required under applicable law.

    Corporate Contact:

    Megan E. Knight

    Arena Pharmaceuticals, Inc.

    Director, Investor Relations 

     

    858.210.3635

    Arena Media Contact: 

     

    858.453.7200 

     

    Arena Pharmaceuticals Logo

     

    Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/arena-pharmaceuticals-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-301079825.html

    SOURCE Arena Pharmaceuticals, Inc.

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  2. SAN DIEGO, June 15, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced the appointment of Dr. Katharine Knobil to the Company's Board of Directors. Dr. Knobil brings more than 20 years of leadership and expertise across a range of areas including global clinical development, health outcomes and medical affairs.

    "Dr. Knobil has a wealth of pharmaceutical experience that spans across all phases of research and clinical development. She has an established record of growing and leading successful teams for large organizations and a passion for delivering new potential therapies to patients globally. We are confident that Kate's expertise will be an invaluable asset as we continue to advance and expand our robust pipeline…

    SAN DIEGO, June 15, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced the appointment of Dr. Katharine Knobil to the Company's Board of Directors. Dr. Knobil brings more than 20 years of leadership and expertise across a range of areas including global clinical development, health outcomes and medical affairs.

    "Dr. Knobil has a wealth of pharmaceutical experience that spans across all phases of research and clinical development. She has an established record of growing and leading successful teams for large organizations and a passion for delivering new potential therapies to patients globally. We are confident that Kate's expertise will be an invaluable asset as we continue to advance and expand our robust pipeline," said Tina S. Nova, Ph.D., Chairman of the Board of Directors of Arena.

    Dr. Knobil currently serves as Chief Medical Officer and Head of Research and Development at Kaleido Biosciences. Prior to joining Kaleido, she spent more than 20 years at GlaxoSmithKline (GSK) in roles of increasing responsibility, most recently serving as Chief Medical Officer. As CMO of GSK, she oversaw and aligned medical affairs, health outcomes, global clinical safety and medical governance across the pharmaceutical, vaccines, and consumer businesses. Previously she served as CMO for Pharmaceuticals at GSK from 2015 to 2017, and prior to that, was senior vice president, Value Evidence and Outcomes. Dr. Knobil first joined GSK in 1997 as a research physician in respiratory clinical development, and subsequently held a number of roles, including leading the European respiratory clinical team, and building the late-stage clinical development for all therapeutic areas in China. Dr. Knobil was named one of 2018's Fiercest Women in Life Sciences by FiercePharma. She has served on the Board of Directors of the National Health Council and has been active with the National Academies of Sciences, Engineering, Medicine, and the Patient Centered Outcomes Research Institute. Dr. Knobil received her B.A. from Cornell University, her M.D. from University of Texas Southwestern Medical School, and completed a Fellowship in Pulmonary and Critical Care Medicine at the Johns Hopkins Medical School.

    About Arena Pharmaceuticals

    ARENA Pharmaceuticals is a team with a singular purpose – deliver our important medicines to patients.

    In a rapidly changing global market, we work with a sense of urgency every day to understand the needs of all our stakeholders, identify bold, sometimes disruptive, ideas to get our medicines to patients, and relentlessly execute until it's done.

    ARENA - Care More. Act Differently.

    Forward-Looking Statements

    Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements include, without limitation, statements about Dr. Knobil's expected contributions, Arena's position, drive, portfolio, prioritization, financial position, team, and building of the company. For such statements, Arena claims the protection of the Private Securities Litigation Reform Act of 1995. Actual events or results may differ materially from Arena's expectations. Factors that could cause actual results to differ materially from the forward-looking statements include those disclosed in Arena's filings with the Securities and Exchange Commission. These forward-looking statements represent Arena's judgment as of the time of this release. Arena disclaims any intent or obligation to update these forward-looking statements, other than as may be required under applicable law.

    Corporate Contact:                                      

    Megan E. Knight

    Arena Pharmaceuticals, Inc.

    Director, Investor Relations 



    858.210.3635

    Arena Media Contact:



    858.453.7200

    Arena Pharmaceuticals Logo

     

    Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/arena-pharmaceuticals-appoints-biotech-executive-katharine-knobil-md-to-board-of-directors-301076715.html

    SOURCE Arena Pharmaceuticals, Inc.

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  3. SAN DIEGO, June 8, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced changes to its research and development leadership team. Effective June 9, 2020, Dr. Preston Klassen will be leaving the Company to pursue an opportunity as Chief Executive Officer of a San Diego-based private company, and Dr. Chris Cabell, Arena's Senior Vice President and Chief Medical Officer, will assume the role of Executive Vice President, Head of Research and Development, and Chief Medical Officer.

    "Chris has been leading the execution of our clinical development and operations for the last few years, and we are confident that his extensive experience and stellar judgement will continue to serve the Company well," said Amit D. Munshi, Arena's…

    SAN DIEGO, June 8, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced changes to its research and development leadership team. Effective June 9, 2020, Dr. Preston Klassen will be leaving the Company to pursue an opportunity as Chief Executive Officer of a San Diego-based private company, and Dr. Chris Cabell, Arena's Senior Vice President and Chief Medical Officer, will assume the role of Executive Vice President, Head of Research and Development, and Chief Medical Officer.

    "Chris has been leading the execution of our clinical development and operations for the last few years, and we are confident that his extensive experience and stellar judgement will continue to serve the Company well," said Amit D. Munshi, Arena's President and Chief Executive Officer. "We look forward to Chris' continued guidance and his broader leadership role within the excellent organization that he and Preston have established together."

    Mr. Munshi added, "On behalf of myself, Arena's Board, leadership, and our entire team, we would like to express our sincere gratitude to Preston for his instrumental contributions. During Preston's tenure he has played a critical role in the Company's success including the development of our R&D strategy, portfolio prioritization and expansion, and in maturing the organization. We thank Preston for his dedication and wish him the best of luck in his future endeavors."

    Dr. Klassen is resigning after more than three years of service at Arena, and he will continue to serve as an advisor to the Company during a transition period following his resignation.

    Chris Cabell, M.D., M.H.S., FACC, has served as Arena's Senior Vice President and Chief Medical Officer since August 2019. From October 2017 to July 2019, he served as Senior Vice President and Head of Clinical Development. Over the past nearly 3 years, Dr. Cabell has been a member of the Arena senior leadership team and has been instrumental in helping to develop and shape the R&D organization which has seen a significant growth and maturity, from less than 40 team members to an organization of more than 225 experienced professionals. In addition, Dr. Cabell, as Chief Medical Officer, has been accountable for all Arena regulatory interactions and commitments over the past year. Prior to joining Arena, Dr. Cabell spent 10 years at IQVIA (formerly Quintiles, Inc. and QuintilesIMS) in a variety of executive positions including Chief Medical and Scientific Officer, and Global Head of Medical and Project Management, managing an international organization of over 1600 staff. Prior to joining IQVIA, Dr. Cabell was on faculty at Duke University, where he led efforts on multiple important collaborative consortia including the Cardiac Safety Research Consortium, a public/private partnership between academic medical centers, the Food and Drug Administration (FDA), and Industry. He is a Fellow of the American College of Cardiology with over 100 peer reviewed publications including in the New England Journal of Medicine, JAMA, and Annals of Internal Medicine. Board certified in both internal medicine and cardiovascular diseases, Dr. Cabell is an honors graduate of the Pennsylvania State University and earned his Doctor of Medicine and Masters in Health Science degrees from Duke University.

    About Arena Pharmaceuticals

    ARENA Pharmaceuticals is a team with a singular purpose – deliver our important medicines to patients.

    In a rapidly changing global market, we work with a sense of urgency every day to understand the needs of all our stakeholders, identify bold, sometimes disruptive, ideas to get our medicines to patients, and relentlessly execute until it's done.

    ARENA - Care More. Act Differently.

    Forward-Looking Statements

    Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements include, without limitation, statements about Dr. Klassen's expected service as an advisor to Arena, Dr. Cabell's expected contributions, Arena's position, drive, portfolio, prioritization, financial position, team, and building of the company. For such statements, Arena claims the protection of the Private Securities Litigation Reform Act of 1995. Actual events or results may differ materially from Arena's expectations. Factors that could cause actual results to differ materially from the forward-looking statements include those disclosed in Arena's filings with the Securities and Exchange Commission. These forward-looking statements represent Arena's judgment as of the time of this release. Arena disclaims any intent or obligation to update these forward-looking statements, other than as may be required under applicable law.

    Corporate Contact:          

    Megan E. Knight

    Arena Pharmaceuticals, Inc.

    Director, Investor Relations 



    858.210.3635

    Arena Media Contact: 



    858.453.7200

    Arena Pharmaceuticals Logo

    Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/arena-pharmaceuticals-announces-rd-leadership-transition-301072238.html

    SOURCE Arena Pharmaceuticals, Inc.

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  4. SAN DIEGO, June 1, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced the completion of its previously announced underwritten public offering of 6,325,000 shares of its common stock at a price to the public of $50.00 per share, including 825,000 shares sold pursuant to the exercise in full of the underwriters' option to purchase additional shares. All of the shares were sold by Arena. Including the option exercise, the aggregate gross proceeds to Arena from the offering were approximately $316.3 million, before deducting the underwriting discounts and commissions and offering expenses. 

    BofA Securities, Citigroup and SVB Leerink acted as the joint book-running managers for the offering. Credit Suisse and Cantor…

    SAN DIEGO, June 1, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced the completion of its previously announced underwritten public offering of 6,325,000 shares of its common stock at a price to the public of $50.00 per share, including 825,000 shares sold pursuant to the exercise in full of the underwriters' option to purchase additional shares. All of the shares were sold by Arena. Including the option exercise, the aggregate gross proceeds to Arena from the offering were approximately $316.3 million, before deducting the underwriting discounts and commissions and offering expenses. 

    BofA Securities, Citigroup and SVB Leerink acted as the joint book-running managers for the offering. Credit Suisse and Cantor also acted as book-running managers for the offering.  JMP Securities and Needham & Company acted as co-managers for the offering. 

    The shares of common stock described above were offered by Arena pursuant to a shelf registration statement filed by Arena with the Securities and Exchange Commission (SEC) that became automatically effective on February 27, 2020. A final prospectus supplement and accompanying prospectus related to the offering have been filed with the SEC and are available on the SEC's website located at http://www.sec.gov.  Copies of the final prospectus supplement and the accompanying prospectus related to the offering may be obtained from BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at ; or from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (800) 831-9146; or from SVB Leerink, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by telephone at (800) 808-7525, ext. 6218, or by email at .

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

    About Arena Pharmaceuticals
    ARENA Pharmaceuticals is a team with a singular focus – deliver our important medicines to patients.

    In a rapidly changing global market, we work with a sense of urgency every day to understand the needs of all our stakeholders, identify bold, sometimes disruptive, ideas to get our medicines to patients, and relentlessly execute until it's done.

    ARENA - Care more.  Act differently.

    Corporate Contact: 
    Megan E. Knight
    Arena Pharmaceuticals, Inc.
    Director, Investor Relations 

    858.210.3635 

    Arena Pharmaceuticals Logo

       

    Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/arena-pharmaceuticals-announces-completion-of-public-offering-of-common-stock-and-exercise-in-full-of-underwriters-option-to-purchase-additional-shares-301068721.html

    SOURCE Arena Pharmaceuticals, Inc.

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  5. SAN DIEGO, May 28, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced the pricing of an underwritten public offering of 5,500,000 shares of its common stock at a price to the public of $50.00 per share. All of the shares are being sold by Arena. The gross proceeds from the offering are expected to be $275.0 million, before deducting the underwriting discounts and commissions and offering expenses. The offering is expected to close on June 1, 2020, subject to customary closing conditions. In addition, Arena has granted the underwriters of the offering a 30-day option to purchase up to an additional 825,000 shares of its common stock at the public offering price, less the underwriting discounts and commissions.  

    BofA…

    SAN DIEGO, May 28, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced the pricing of an underwritten public offering of 5,500,000 shares of its common stock at a price to the public of $50.00 per share. All of the shares are being sold by Arena. The gross proceeds from the offering are expected to be $275.0 million, before deducting the underwriting discounts and commissions and offering expenses. The offering is expected to close on June 1, 2020, subject to customary closing conditions. In addition, Arena has granted the underwriters of the offering a 30-day option to purchase up to an additional 825,000 shares of its common stock at the public offering price, less the underwriting discounts and commissions.  

    BofA Securities, Citigroup and SVB Leerink are acting as the joint book-running managers for the offering. Credit Suisse and Cantor are also acting as book-running managers for the offering. JMP Securities and Needham & Company are acting as co-managers for the offering. 

    The shares of common stock described above are being offered by Arena pursuant to a shelf registration statement filed by Arena with the Securities and Exchange Commission (SEC) that became automatically effective on February 27, 2020. A preliminary prospectus supplement and accompanying prospectus related to the offering were filed with the SEC and are available on the SEC's website located at http://www.sec.gov. A final prospectus supplement and accompanying prospectus related to the offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus related to the offering, when available, may be obtained from BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at ; or from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (800) 831-9146; or from SVB Leerink, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by telephone at (800) 808-7525, ext. 6218, or by email at .

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

    About Arena Pharmaceuticals

    ARENA Pharmaceuticals is a team with a singular focus – deliver our important medicines to patients.

    In a rapidly changing global market, we work with a sense of urgency every day to understand the needs of all our stakeholders, identify bold, sometimes disruptive, ideas to get our medicines to patients, and relentlessly execute until it's done.

    ARENA - Care more.  Act differently.

    Forward-Looking Statements

    Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties. These statements may be identified by introductory words such as "may," "expects," "plan," "believe," "will," "achieve," "anticipate," "would," "should," "subject to" or words of similar meaning, or by the fact that they do not relate strictly to historical or current facts. Such forward-looking statements include statements regarding Arena's expectations with respect to the completion, timing and size of the proposed public offering. For such statements, Arena claims the protection of the Private Securities Litigation Reform Act of 1995. Actual events or results may differ materially from Arena's expectations. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the proposed offering, and those factors disclosed in Arena's filings with the SEC, including its Quarterly Report on Form 10-Q for the quarter ended March 31, 2020. These forward-looking statements represent Arena's judgment as of the time of this release. Arena disclaims any intent or obligation to update these forward-looking statements, other than as may be required under applicable law.

    Corporate Contact: 
    Megan E. Knight
    Arena Pharmaceuticals, Inc.
    Director, Investor Relations 

    858.210.3635 

     

    Arena Pharmaceuticals Logo

     

    Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/arena-pharmaceuticals-announces-pricing-of-public-offering-of-common-stock-301066741.html

    SOURCE Arena Pharmaceuticals, Inc.

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