ARNA Arena Pharmaceuticals Inc.

66.29
-0.2  -0%
Previous Close 66.49
Open 66.15
52 Week Low 44.79
52 Week High 90.19
Market Cap $3,999,583,816
Shares 60,334,648
Float 60,285,860
Enterprise Value $2,953,221,745
Volume 389,446
Av. Daily Volume 518,928
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Upcoming Catalysts

Drug Stage Catalyst Date
Etrasimod
Alopecia areata (AA)
Phase 2
Phase 2
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Etrasimod
Crohn's disease
Phase 2b
Phase 2b
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Etrasimod (ELEVATE UC 52)
Ulcerative colitis
Phase 3
Phase 3
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Quisque sapien.
Etrasimod (ELEVATE UC 12)
Ulcerative colitis
Phase 3
Phase 3
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Quisque sapien.

Drug Pipeline

Drug Stage Notes
Olorinab
Irritable Bowel Syndrome
Phase 2b
Phase 2b
Phase 2b trial did not meet primary endpoint - March 2, 2021.
Etrasimod
Atopic dermatitis (AD)
Phase 2b
Phase 2b
Phase 2b trial did not meet primary endpoint - November 9, 2020. Phase 3 trial planned.
Etrasimod
Eosinophilic esophagitis (EoE)
Phase 2b
Phase 2b
Phase 2b trial to be initiated in 4Q 2020 dependent on COVID situation.
APD418
Acute heart failure (AHF)
Phase 1
Phase 1
Phase 2 trial planned for 2021.
Lorcaserin
Obesity
Approved
Approved
Approved June 27, 2012.

Latest News

  1. Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that the Compensation Committee of its Board of Directors granted inducement stock options, inducement performance restricted stock units ("PRSUs"), and inducement restricted stock units ("RSUs") to new employees. The inducement stock options, PRSUs, and RSUs each have a grant date and vesting commencement date (if applicable) of March 15, 2021, and were granted as inducements material to the new employees entering employment with Arena in accordance with Nasdaq Listing Rule 5635(c)(4). These grants included:

    • options to purchase an aggregate of 40,000 shares of Arena's common stock to Mike Paolucci, Executive Vice President of Human Capital, approved by the Compensation Committee on…

    Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that the Compensation Committee of its Board of Directors granted inducement stock options, inducement performance restricted stock units ("PRSUs"), and inducement restricted stock units ("RSUs") to new employees. The inducement stock options, PRSUs, and RSUs each have a grant date and vesting commencement date (if applicable) of March 15, 2021, and were granted as inducements material to the new employees entering employment with Arena in accordance with Nasdaq Listing Rule 5635(c)(4). These grants included:

    • options to purchase an aggregate of 40,000 shares of Arena's common stock to Mike Paolucci, Executive Vice President of Human Capital, approved by the Compensation Committee on February 15, 2021;
    • PRSUs to Mr. Paolucci at an amount of 7,000 shares, approved by the Compensation Committee on February 15, 2021;
    • options to purchase an aggregate of 12,900 shares of Arena's common stock to four new employees, approved by the Compensation Committee on March 12, 2021; and
    • 5,595 RSUs to four new employees, approved by the Compensation Committee on March 12, 2021.

    The inducement stock options are non-qualified stock options, have a seven-year term, have an exercise price of $77.58 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 substantially equal monthly installments over the following 36 months, subject to the new employee's continued service with Arena through the applicable vesting dates. The PRSUs represent a contingent right to receive a number of shares of Arena's common stock equal to up to 100% of the number of target PRSUs granted, which shares shall vest, if at all, upon the closing price of Arena's common stock reaching certain thresholds during the performance period beginning on the grant date and ending on February 29, 2024, and satisfaction of a continuing service requirement. The RSUs vest over four years, with 25% of the shares vesting on the first designated quarterly vesting date on or following the one-year anniversary of the vesting commencement date and the remaining 75% of the shares vesting in 12 substantially equal quarterly installments occurring on the following 12 quarterly vesting dates, subject to the new employee's continued service with Arena through the applicable vesting dates. The inducement stock options, PRSUs, and RSUs are subject to the terms and conditions of Arena's Amended and Restated 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 purpose, work, understanding, ideas, and execution. 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.

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  2. - Olorinab investigated in three doses, 10 mg, 25 mg, and 50 mg, for abdominal pain associated with IBS-C & IBS-D

    - Trial did not meet primary endpoint in broad study population

    - Moderate to severe pain population at 50 mg showed statistically significant, clinically meaningful improvement vs placebo in Average Abdominal Pain Score (AAPS)

    - Olorinab was generally well tolerated consistent with the safety profile of previous trials

    - Company to evaluate possible strategic options for program

    Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced topline results from the randomized, double-blind, placebo-controlled Phase 2b CAPTIVATE clinical trial evaluating three doses of olorinab, a novel, oral, peripherally acting, highly selective…

    - Olorinab investigated in three doses, 10 mg, 25 mg, and 50 mg, for abdominal pain associated with IBS-C & IBS-D

    - Trial did not meet primary endpoint in broad study population

    - Moderate to severe pain population at 50 mg showed statistically significant, clinically meaningful improvement vs placebo in Average Abdominal Pain Score (AAPS)

    - Olorinab was generally well tolerated consistent with the safety profile of previous trials

    - Company to evaluate possible strategic options for program

    Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced topline results from the randomized, double-blind, placebo-controlled Phase 2b CAPTIVATE clinical trial evaluating three doses of olorinab, a novel, oral, peripherally acting, highly selective, full agonist of the cannabinoid receptor 2 (CB2), in participants with abdominal pain due to Irritable Bowel Syndrome (IBS).

    The CAPTIVATE trial randomized a total of 273 participants and was conducted in study sites across the United States. The results show that, although olorinab was well tolerated, it did not meet the primary efficacy endpoint of statistically significant improvement in the overall AAPS from baseline to week 12.

    A pre-specified analysis assessed participants with baseline AAPS ≥ 6.5 (median), representing those with moderate to severe pain. This subgroup accounted for 50% of the overall study population. Within this subgroup, the 50 mg treatment group showed a clinically meaningful1 and statistically significant (p=0.01) reduction in AAPS of 1.64 points compared to placebo and 3.93 points from baseline at week 12.

    Olorinab was generally safe and well tolerated in the study, consistent with the safety profile of previous trials. Discontinuation rates and adverse events were similar to placebo, notably with no worsening of bowel habits and no treatment interruptions. There were no serious adverse events observed in the study.

    "The CAPTIVATE Study was the first study to examine a full agonist of CB2 in IBS pain. As a Phase 2 trial we were evaluating safety in this population as well as looking for an initial signal of efficacy," said Paul D. Streck, MD, Arena's Senior Vice President, Clinical Development, and Chief Medical Officer. "We are encouraged by the signal in this moderate to severe group and look forward to sharing the full data from this well-executed trial at an upcoming medical meeting."

    "There is a significant unmet need for a novel, non-opioid drug that treats moderate to severe pain with IBS, while not worsening associated constipation or diarrhea. While these data will need to be replicated in a Phase 3 registration program, the data from the CAPTIVATE Study are promising and give me hope that we may have a valuable therapeutic option in the future," said Lin Chang, MD, Vice-Chief of the Vatche and Tamar Manoukian Division of Digestive Diseases at UCLA.

    "These data are quite promising. There appears to be a strong signal that the drug has effect in abdominal pain in the moderate to severe population at the 50 mg dose. Importantly, the magnitude of effect in this cohort surpasses the bar for clinically meaningful benefit," said Anthony Lembo, MD, Professor of Medicine at Harvard Medical School and Director of the GI Motility Laboratory at Beth Israel Deaconess Medical Center in Boston, MA.

    "We expect to evaluate possible strategic options for olorinab, while maintaining our commitment to the GI community and remaining focused on advancing our clinical programs for etrasimod in ulcerative colitis, Crohn's disease, and eosinophilic esophagitis," added Amit Munshi, President and Chief Executive Officer at Arena. "We want to thank the participants, clinicians, site staff, and the Arena team who participated in this important trial."

    About CAPTIVATE

    CAPTIVATE is a Phase 2b, multi-center, randomized, double-blind, placebo-controlled, 12-week study of olorinab in 273 study participants with irritable bowel syndrome (IBS) experiencing abdominal pain. The study will evaluate change in abdominal pain in participants with the clinical diagnosis of IBS with predominant constipation (IBS-C) or diarrhea (IBS-D). The primary objective of this trial is to assess the safety and efficacy of olorinab administered three times daily (TID). The primary endpoint is improvement in the weekly Average Abdominal Pain Score (AAPS) from baseline. The CAPTIVATE trial is being conducted at approximately 70 study sites across the United States. Additional information on this clinical trial can be found at clinicaltrials.gov (NCT04043455).

    About Olorinab

    Olorinab (APD371) is an oral, peripherally acting, highly selective, full agonist of the cannabinoid receptor 2 (CB2). Olorinab is an internally discovered investigational drug candidate that Arena is exploring for development in several indications, with an initial focus on visceral pain in gastrointestinal disorders. This compound, through its selectivity for CB2, versus the cannabinoid receptor 1 (CB1), was designed to provide pain relief while minimizing the risk of psychoactive adverse effects.

    Olorinab is an investigational compound that is not approved for use in any country.

    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.

    We are developing a richly diversified portfolio of therapeutic candidates targeting gastroenterology, dermatology and cardiology. Our pipeline includes four investigational medicines in eight indications and eleven ongoing or planned clinical trials. To fuel our growth, we are unlocking the value of our historical GPCR research with a sustainable discovery engine for broad portfolio expansion.

    ARENA - Care More. Act Differently.

    _________________________________________________

    1 Minimal clinically important difference is defined as improvement of at least 2.2 from baseline per Spiegel B et al. "Measuring irritable bowel syndrome patient-reported outcomes with an abdominal pain numeric rating scale." Aliment Pharmacol Ther. 2009;30(11-12):1159-1170.

    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 may be identified by words such as "will," "look forward," "upcoming," "committed," "objective," "designed to," and "planned," and include, without limitation, statements about the following: olorinab's potential utility and clinical benefits, Arena's plans to present additional data from the CAPTIVATE trial at a future medical meeting, the exploration of strategic options for olorinab, and Arena's purpose, work, understanding, ideas, execution, pipeline, planned clinical trials, discovery engine, and portfolio expansion. 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, the following: topline data may not accurately reflect the complete results of a particular study or trial; results of clinical trials and other studies are subject to different interpretations and may not be predictive of future results; clinical trials and other studies may not proceed at the time or in the manner expected or at all; the timing and outcome of research, development and regulatory review is uncertain, and Arena's drug candidates may not advance in development or be approved for marketing; enrolling participants in Arena's ongoing and intended clinical trials is competitive and challenging; the coronavirus disease (COVID-19) pandemic, including but not limited to the impact on Arena's clinical operations, the operations of Arena's suppliers, partners, collaborators, licensees, and capital markets, which in each case remains uncertain; risks related to developing and commercializing drugs; Arena will need additional funds to advance all of its programs, and you and others may not agree with the manner Arena allocates its resources; the impact of competition; risks related to unexpected or unfavorable new data; the risk that regulatory agencies may interpret or weigh the importance of data differently and reach different conclusions than Arena or others, request additional information, have additional recommendations or change their guidance or requirements before or after approval; satisfactory resolution of litigation or other disagreements with others; and risks related to the enforcement of Arena's and third parties' intellectual property rights. Additional factors that could cause actual results to differ materially from those stated or implied by Arena's forward-looking statements are disclosed in Arena's filings with the Securities and Exchange Commission (SEC), including but not limited to Arena's Annual Report on Form 10-K for the year ended December 31, 2020, which was filed with the SEC on February 23, 2021. 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.

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  3. - Significant pipeline progress with potentially first- or best-in-class drug candidates

    - Strong cash position of $1.1 billion as of December 31, 2020

    Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today provided a corporate update and reported financial results for the fourth quarter and full year ended December 31, 2020.

    "This quarter we were pleased to announce the completion of enrollment of the ELEVATE UC 52 trial for etrasimod and expansion of our cardiovascular franchise to include temanogrel. Our growing and diverse pipeline is supported by a strong cash position," said Amit D. Munshi, President and CEO of Arena. "Adapting to the impact of the global COVID-19 pandemic, our team has continued to put safety of trial participants first…

    - Significant pipeline progress with potentially first- or best-in-class drug candidates

    - Strong cash position of $1.1 billion as of December 31, 2020

    Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today provided a corporate update and reported financial results for the fourth quarter and full year ended December 31, 2020.

    "This quarter we were pleased to announce the completion of enrollment of the ELEVATE UC 52 trial for etrasimod and expansion of our cardiovascular franchise to include temanogrel. Our growing and diverse pipeline is supported by a strong cash position," said Amit D. Munshi, President and CEO of Arena. "Adapting to the impact of the global COVID-19 pandemic, our team has continued to put safety of trial participants first while striving to maintain important momentum across our programs."

    Fourth Quarter and Recent Updates

    • In February 2021, dosed first participant in the Phase 2b VOYAGE trial for etrasimod for eosinophilic esophagitis (EoE)
    • In February 2021, Garry Neil named Board Chair, and Nawal Ouzren named to the Board of Directors
    • In January 2021, etrasimod ELEVATE UC 52 Phase 3 trial in ulcerative colitis (UC) completed enrollment; both ELEVATE UC 52 and ELEVATE UC 12 Phase 3 trials on track for topline data in Q1 2022; we continue to monitor the impact of the COVID-19 resurgence on study progress for both UC 52 and UC 12
    • In January 2021, temanogrel program announced at JP Morgan Health Care Conference
    • In November 2020, etrasimod atopic dermatitis (AD) ADVISE Phase 2b trial delivered topline results; moving forward into a Phase 3 registrational program
    • In October 2020, olorinab CAPTIVATE Phase 2b trial in abdominal pain associated with irritable bowel syndrome (IBS-C, IBS-D) enrollment completed; topline data expected Q1 2021

    Fourth Quarter and Full-Year 2020 Financial Updates

    Fourth Quarter 2020 Financial Results

    • Revenues for the fourth quarter were zero compared to $3.0 million in the fourth quarter of 2019
    • Research and development (R&D) expenses for the fourth quarter totaled $100.4 million compared to $74.6 million in the same period 2019. This increase was primarily driven by our advancing clinical studies, including the etrasimod Phase 3 program. The R&D non-cash share-based compensation was $6.5 million in the fourth quarter as compared to $7.0 million in the same period 2019
    • Selling, general and administrative (SG&A) expenses for the fourth quarter totaled $34.9 million, compared to $22.2 million in the fourth quarter of 2019. This increase is primarily attributed to non-cash share-based compensation expenses. The SG&A non-cash share-based compensation was $13.5 million in the fourth quarter as compared to $6.3 million in the same period 2019
    • Net loss for the fourth quarter was $122.2 million compared to net loss of $88.3 million for the same period in 2019
    • Basic and diluted net loss per share for the fourth quarter was $2.10 compared to basic and diluted net loss per share of $1.76 for the same period in 2019

    Full-Year 2020 Financial Results

    • Revenues totaled $0.3 million
    • Research and development expenses totaled $323.7 million, including $26.0 million related to non-cash share-based compensation
    • Selling, general and administrative expenses totaled $103.2 million, including $33.9 million related to non-cash share-based compensation
    • Net loss was $404.7 million, or $7.39 per share

    At December 31, 2020, Arena's cash, cash equivalents and investments balance was approximately $1.1 billion and approximately 58.6 million shares of Arena common stock were outstanding.

    Conference Call & Webcast Information

    Arena will host a live and webcast question and answer session via conference call with the investment community today, Tuesday, February 23, 2021, at 4:30 PM ET, to discuss the financial results and corporate update.

    When: Tuesday, February 23, 2021, at 4:30 PM ET

    Dial-in: (877) 643-7155 (United States) or (914) 495-8552 (International)

    Conference ID: 1778476

    Please join the conference call at least 20 minutes early to register. You can access the live webcast under the investor relations section of Arena's website at: www.arenapharm.com. A replay of the event will be archived under the investor relations section of Arena's website for 30 days shortly after the call.

    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.

    Etrasimod, olorinab, and temanogrel are investigational compounds that are not approved for any use in any country.

    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 may be identified by words such as "potentially," "striving to," "can," "on track for," "expected," "guidance," and "will," and include, without limitation, statements about the following: Arena's clinical programs, including study initiation, enrollment of study participants, participant safety, study momentum, and timing of data readouts; Arena's planned conference call and webcast with the investment community; the potential of Arena's drug candidates, including to be first- or best-in-class and be delivered to patients; and Arena's purpose, work, understanding, ideas, and execution. 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, the following: clinical trials and other studies may not proceed at the time or in the manner expected or at all; the timing and outcome of research, development and regulatory review is uncertain, and Arena's drug candidates may not advance in development or be approved for marketing; enrolling participants in Arena's ongoing and intended clinical trials is competitive and challenging; the duration and severity of the coronavirus disease (COVID-19) outbreak, including but not limited to the impact on Arena's clinical trials and operations, the operations of Arena's suppliers, partners, collaborators, and licensees, and capital markets, which in each case remains uncertain; risks related to developing and commercializing drugs; Arena may need additional funds to advance all of its programs, and you and others may not agree with the manner Arena allocates its resources; risks and uncertainties relating to cash and revenues that may be generated from product sales or other sources, including the impact of competition; Arena's revenues are based in part on estimates, judgment and accounting policies, and incorrect estimates or disagreement regarding estimates or accounting policies may result in changes to Arena's guidance or previously reported results; risks related to unexpected or unfavorable new data; nonclinical and clinical data is voluminous and detailed, and regulatory agencies may interpret or weigh the importance of data differently and reach different conclusions than Arena or others, request additional information, have additional recommendations or change their guidance or requirements before or after approval; results of clinical trials and other studies are subject to different interpretations and may not be predictive of future results; topline data may not accurately reflect the complete results of a particular study or trial; satisfactory resolution of litigation or other disagreements with others; government and third-party payor actions, including relating to reimbursement and pricing; risks related to relying on licenses or collaborative arrangements, including lack of control and potential disputes; the entry into or modification or termination of licenses or collaborative arrangements; and Arena's and third parties' intellectual property rights. Additional factors that could cause actual results to differ materially from those stated or implied by Arena's forward-looking statements are disclosed in Arena's filings with the Securities and Exchange Commission (SEC), including but not limited to Arena's quarterly report on Form 10-Q for the quarter ended September 30, 2020, which was filed with the SEC on November 9, 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.

    Arena Pharmaceuticals, Inc.

    Condensed Consolidated Statements of Operations

    (In thousands, except per share amounts)

     

     

     

     

     

     

     

    Three months ended

     

    Year ended

     

     

    December 31,

     

    December 31,

     

     

    2020

     

    2019

     

    2020

     

    2019

     

     

    (unaudited)

     

    Revenues

     

     

     

     

     

     

     

     

     

     

     

     

    United Therapeutics revenue

     

    $

     

     

    $

     

     

    $

     

     

    $

    800,000

     

    Royalty revenue

     

     

     

     

     

    (3,578

    )

     

     

    262

     

     

     

    (853

    )

    Collaboration and other revenue

     

    37

     

     

    6,580

     

     

    57

     

     

    7,284

     

    Total revenues

     

     

    37

     

     

     

    3,002

     

     

     

    319

     

     

     

    806,431

     

     

     

     

     

     

     

     

     

     

     

     

    Operating Costs & Expenses

     

     

     

     

     

     

     

     

     

     

    Research & development

     

     

    100,441

     

     

     

    74,632

     

     

     

    323,740

     

     

     

    231,496

     

    Selling, general & administrative

     

     

    34,897

     

     

     

    22,243

     

     

     

    103,218

     

     

     

    77,616

     

    Transaction costs

     

     

     

     

     

     

     

     

     

     

     

    14,573

     

    Total operating costs & expenses

     

     

    135,338

     

     

     

    96,875

     

     

     

    426,958

     

     

     

    323,685

     

    (Loss) income from operations

     

     

    (135,301

    )

     

     

    (93,873

    )

     

     

    (426,639

    )

     

     

    482,746

     

     

     

     

     

     

     

     

     

     

     

     

    Total interest & other income, net

     

     

    13,140

     

     

     

    5,562

     

     

     

    21,905

     

     

     

    25,142

     

    (Loss) income before income taxes

     

     

    (122,161

    )

     

     

    (88,311

    )

     

     

    (404,734

    )

     

     

    507,888

     

    Income tax provision

     

     

     

     

     

     

     

     

     

     

     

    (110,333

    )

    Net (loss) income

     

    $

    (122,161

    )

     

    $

    (88,311

    )

     

    $

    (404,734

    )

     

    $

    397,555

     

     

     

     

     

     

     

     

     

     

     

     

    Net (loss) income per share, basic:

     

    $

    (2.10

    )

     

    $

    (1.76

    )

     

    $

    (7.39

    )

     

    $

    7.99

     

    Net (loss) income per share, diluted:

     

    $

    (2.10

    )

     

    $

    (1.76

    )

     

    $

    (7.39

    )

     

    $

    7.69

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Shares used in calculating net income (loss) per share, basic:

     

     

    58,288

     

     

     

    50,113

     

     

     

    54,767

     

     

     

    49,779

     

    Shares used in calculating net income (loss) per share, diluted:

     

     

    58,288

     

     

     

    50,113

     

     

     

    54,767

     

     

     

    51,698

     

    Arena Pharmaceuticals, Inc.

    Condensed Consolidated Balance Sheet Data

    (In thousands)

    (Unaudited)

     

     

     

    December 31, 2020

     

     

    December 31, 2019

     

     

     

    1

     

     

    1

     

    Assets

     

     

     

     

     

     

     

     

    Cash & cash equivalents

     

    $

    219,544

     

     

    $

    243,274

     

    Prepaid expenses & other current assets

     

     

    35,266

     

     

     

    20,369

     

    Total available-for-sale investments

     

     

    884,497

     

     

     

    867,229

     

    Land, property & equipment, net

     

     

    22,090

     

     

     

    25,128

     

    Other non-current assets

     

     

    29,323

     

     

     

    18,123

     

    Total assets

     

    $

    1,190,720

     

     

    $

    1,174,123

     

     

     

     

     

     

     

     

     

     

    Liabilities & Stockholders' Equity

     

     

     

     

     

     

     

     

    Accounts payable & accrued liabilities

     

    $

    53,676

     

     

    $

    41,153

     

    Total lease financing obligations & other long-term liabilities

     

     

    56,575

     

     

     

    61,505

     

    Total stockholders' equity

     

     

    1,080,469

     

     

     

    1,071,465

     

    Total liabilities & stockholders' equity

     

    $

    1,190,720

     

     

    $

    1,174,123

     

    1 The Condensed Consolidated Balance Sheet Data has been derived from the audited financial statements as of that date.

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  4. Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that on February 15, 2021, the Compensation Committee of its Board of Directors granted to eleven new employees inducement stock options to purchase an aggregate of 33,885 shares of its common stock and 8,475 inducement restricted stock units ("RSUs"). The inducement stock options and RSUs have a grant date and vesting commencement date of February 15, 2021 and were granted as inducements material to the new employees entering 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 $83.95 per share, the closing price of Arena's common stock on the last trading…

    Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that on February 15, 2021, the Compensation Committee of its Board of Directors granted to eleven new employees inducement stock options to purchase an aggregate of 33,885 shares of its common stock and 8,475 inducement restricted stock units ("RSUs"). The inducement stock options and RSUs have a grant date and vesting commencement date of February 15, 2021 and were granted as inducements material to the new employees entering 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 $83.95 per share, the closing price of Arena's common stock on the last trading day preceding 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 substantially 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 designated quarterly vesting date on or following the one-year anniversary of the vesting commencement date and the remaining 75% of the shares vesting in 12 substantially equal quarterly installments occurring on the following 12 quarterly vesting dates, 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 Amended and Restated 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 purpose, work, understanding, ideas, and execution. 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.

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  5. Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) will release its fourth quarter and full-year 2020 financial results and provide a corporate update on Tuesday, February 23, 2021, after the close of the U.S. financial markets. The Company will host a question and answer session via conference call and live webcast with the investment community the same day at 4:30 PM ET.

    Conference Call & Webcast Information
    When: Tuesday, February 23, 2021, at 4:30 PM ET
    Dial-in: (877) 643-7155 (United States) or (914) 495-8552 (International)
    Conference ID: 1778476

    Please join the conference call at least 20 minutes early to register. You can access the live webcast under the investor relations section of Arena's website. A replay of the conference call will be…

    Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) will release its fourth quarter and full-year 2020 financial results and provide a corporate update on Tuesday, February 23, 2021, after the close of the U.S. financial markets. The Company will host a question and answer session via conference call and live webcast with the investment community the same day at 4:30 PM ET.

    Conference Call & Webcast Information

    When: Tuesday, February 23, 2021, at 4:30 PM ET

    Dial-in: (877) 643-7155 (United States) or (914) 495-8552 (International)

    Conference ID: 1778476

    Please join the conference call at least 20 minutes early to register. You can access the live webcast under the investor relations section of Arena's website. A replay of the conference call will be archived for 30 days after the call.

    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.

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