1. - 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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  2. 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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  3. 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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  4. - Industry veteran Garry Neil, MD, named Board Chair

    - Nawal Ouzren, CEO of Sensorion named to Board

    Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced changes to the Company's Board of Directors. Garry Neil, MD, has been appointed Chair of the Board. Additionally, Nawal Ouzren has been appointed as a new Board member.

    "These changes in our Board leadership will help position Arena for the growth we anticipate and mark an important inflection point in our progress," said Amit D. Munshi, President and CEO of Arena. "Garry Neil has served on the Board for the past four years, providing exceptional leadership for our scientific direction. As a physician with extensive industry experience, his insight into successfully translating scientific…

    - Industry veteran Garry Neil, MD, named Board Chair

    - Nawal Ouzren, CEO of Sensorion named to Board

    Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced changes to the Company's Board of Directors. Garry Neil, MD, has been appointed Chair of the Board. Additionally, Nawal Ouzren has been appointed as a new Board member.

    "These changes in our Board leadership will help position Arena for the growth we anticipate and mark an important inflection point in our progress," said Amit D. Munshi, President and CEO of Arena. "Garry Neil has served on the Board for the past four years, providing exceptional leadership for our scientific direction. As a physician with extensive industry experience, his insight into successfully translating scientific discoveries into marketable drugs will shape our approach going forward."

    Dr. Neil has served on our Board of Directors since February 2017. He serves as the Chief Scientific Officer of Cerecor, Inc., a publicly held biotechnology company focused on translating genetic discoveries into novel therapies to improve the lives of children and adults with life altering diseases, a position he has held since Cerecor's February 2020 merger with Aevi Genomic Medicine, Inc., a biotechnology company with the same focus, where Dr. Neil had served as Chief Scientific Officer since September 2013. Prior to joining Aevi Genomic Medicine, Dr. Neil was a Partner at Apple Tree Partners, a life science private equity firm, from September 2012 to September 2013, and held a number of senior positions in the pharmaceutical industry, including most recently as Corporate VP of Science & Technology at Johnson & Johnson from November 2007 to August 2012. Prior to these roles, Dr. Neil served as Group President at Johnson & Johnson Pharmaceutical Research and Development, VP of R&D at Merck KGaA/EMD Pharmaceuticals, and VP of Clinical Research at AstraZeneca and Astra Merck. Dr. Neil holds a BS from the University of Saskatchewan and an MD from the University of Saskatchewan College of Medicine. He completed postdoctoral clinical training in internal medicine and gastroenterology at the University of Toronto. Dr. Neil also completed a postdoctoral research fellowship at the Research Institute of Scripps Clinic. He served on the Board of GTx, Inc., a publicly traded biopharmaceutical company focused on cancer and other serious medical conditions, until its merger with Oncternal Therapeutics in March 2019. Dr. Neil is the Founding Chairman of TransCelerate Biopharma, Inc., a non-profit pharmaceuticals industry R&D consortium, and a past member of the TransCelerate Board. He also serves on the Board of the Reagan Udall Foundation and previously served on the Board of Foundation for the National Institutes of Health (NIH) and on the Science Management Review Board of the NIH. Dr. Neil is also the past Chairman of the Pharmaceutical Research and Manufacturers Association (PhRMA) Science and Regulatory Executive Committee and the PhRMA Foundation Board.

    "The appointment of Nawal Ouzren to the Board strengthens our Board leadership capabilities, and I am delighted to have the opportunity to work with her," commented Dr. Neil, newly appointed Chair of the Arena Board of Directors. "Nawal brings broad based management experience including in operations and manufacturing, with both large and small biopharmaceutical companies. We are fortunate to have someone with her experience join the Board as we move toward commercial launch."

    Ms. Ouzren brings 20 years of leadership and expertise across a range of areas, including clinical development, operations, manufacturing, quality, and commercialization. She currently serves as Chief Executive Officer and Member of the Board at Sensorion SAS (ALSEN.PA), a publicly traded biotechnology company based in Montpellier, FR. Prior to joining Sensorion, she served as Group Vice President, Rare Genetic Diseases at Shire International GmbH. In that role she led a cross-functional organization including clinical development, R&D, and global marketing. Before Shire, Ms. Ouzren held various positions at Baxalta from 2014 to June 2016 when Baxalta was acquired by Shire. During her career, Ms. Ouzren also held roles of increasing responsibility across multiple functions at Baxter BioScience and General Electric. In addition to her Board role at Sensorion, Ms. Ouzren serves on the Board of Inventiva (NASDAQ:IVA), a clinical-stage biopharmaceutical company. Ms. Ouzren holds a Master of Science Degree in Chemical Engineering from the Université de Technologie de Compiègne, France.

    "Since 2016, we have continued to evolve the Board of Directors to provide effective guidance and oversight as the company has continued to grow. These new Board appointments will help steer Arena Pharmaceuticals toward our next stage of growth. I look forward to working with Garry and Nawal," commented Mr. Munshi.

    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. Neil's and Ms. Ouzren's expected contributions, Arena's purpose, work, 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. Evaluating 2 mg etrasimod in study participants with moderately-to-severely active ulcerative colitis (UC)

    Topline data from ELEVATE UC 12 and UC 52 trials remain on track for Q1 2022

    Significant unmet need for safe and effective oral therapies in UC for patients with inadequate response, loss of response or intolerance to conventional or advanced therapies

    Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that it has completed full enrollment of the Phase 3 ELEVATE UC 52 trial evaluating the safety and efficacy of etrasimod, a highly selective, once-daily, oral sphingosine 1-phosphate (S1P) receptor modulator, in participants with moderately-to-severely active ulcerative colitis. The trial enrolled 433 study participants in…

    Evaluating 2 mg etrasimod in study participants with moderately-to-severely active ulcerative colitis (UC)

    Topline data from ELEVATE UC 12 and UC 52 trials remain on track for Q1 2022

    Significant unmet need for safe and effective oral therapies in UC for patients with inadequate response, loss of response or intolerance to conventional or advanced therapies

    Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that it has completed full enrollment of the Phase 3 ELEVATE UC 52 trial evaluating the safety and efficacy of etrasimod, a highly selective, once-daily, oral sphingosine 1-phosphate (S1P) receptor modulator, in participants with moderately-to-severely active ulcerative colitis. The trial enrolled 433 study participants in approximately 40 countries globally.

    "Completion of UC 52 enrollment is the first important step in a comprehensive clinical program designed to potentially provide broad access and improve outcomes in patients with moderately-to-severely active ulcerative colitis. We thank our investigators, clinical site coordinators and especially the participants in the trial for enabling us to meet this important milestone," said Paul Streck, M.D., Senior Vice President, Clinical Development and Chief Medical Officer at Arena. "We expect topline data from both the ELEVATE UC 52 and UC 12 trials in Q1 2022, and we remain focused on successful clinical trial execution with careful attention to data integrity and the safety of the trial participants."

    About ELEVATE UC 52

    ELEVATE UC 52 is one of two pivotal trials that are part of the ELEVATE UC global Phase 3 registrational program. ELEVATE UC 52 is a 2:1 randomized, double-blind, placebo-controlled trial to assess the efficacy and safety of etrasimod 2 mg once-daily in participants with moderately-to-severely active ulcerative colitis (UC) defined as a baseline 3-domain, modified Mayo Score of 4 to 9 with an endoscopic score of 2 or more, and a rectal bleeding score of 1 or more. This is a one-year trial evaluating clinical remission at 12 weeks, or induction, and at 52 weeks. The trial consists of a 28-day screening period, a 12-week treatment period, a 40-week treatment period, and a 2-week follow-up period. The primary objective of this trial is to assess the safety and efficacy of etrasimod on clinical remission after both 12 and 52 weeks. The primary endpoint is the FDA-required, 3-domain, modified Mayo Score, which is similar to the endpoint in the Phase 2 OASIS study of etrasimod in UC. Key secondary measures include the efficacy of etrasimod on clinical response, symptomatic response and remission, endoscopic changes, corticosteroid-free remission, and a total healing in these participants at time points up to 52 weeks of treatment. The ELEVATE UC program is being conducted in approximately 40 countries globally.

    About Etrasimod

    Etrasimod (APD334) is a next generation, once-daily, oral, highly selective sphingosine 1-phosphate (S1P) receptor modulator discovered by Arena and designed for optimized pharmacology and engagement of S1P receptor 1, 4, and 5, which may lead to an improved efficacy and safety profile.

    Etrasimod is intended to provide systemic and local effects on specific immune cell types and has the potential to treat multiple immune-mediated inflammatory diseases including ulcerative colitis, Crohn's disease, eosinophilic esophagitis, atopic dermatitis, and alopecia areata.

    Etrasimod is an investigational compound that is not approved for any 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.

    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 may be identified by words such as "designed to," "expect," "may," "lead to," and "potentially," and include, without limitation, statements about the potential benefits of the ELEVATE UC 52 trial, the timing of topline data from both the ELEVATE UC 52 and UC 12 trials, the potential benefits of etrasimod, 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; the duration and severity of the COVID-19 pandemic, including but not limited to its impact on Arena's clinical trials and operations and the operations of Arena's suppliers, partners, collaborators, and licensees, which in each case remains uncertain; risks related to developing and commercializing drugs; risks and uncertainties relating to cash and revenues that may be generated from product sales or other sources, including the impact of competition; 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; 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 under the heading "Risk Factors" in Arena's Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, 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.

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  6. Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that on January 15, 2021, the Compensation Committee of its Board of Directors granted to five new employees inducement stock options to purchase an aggregate of 16,950 shares of its common stock and 3,470 inducement restricted stock units ("RSUs"). The inducement stock options and RSUs have a grant date and vesting commencement date of January 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 $80.50 per share, the closing price of Arena's common stock on the grant date…

    Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that on January 15, 2021, the Compensation Committee of its Board of Directors granted to five new employees inducement stock options to purchase an aggregate of 16,950 shares of its common stock and 3,470 inducement restricted stock units ("RSUs"). The inducement stock options and RSUs have a grant date and vesting commencement date of January 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 $80.50 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 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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  7. SAN DIEGO, Dec. 22, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that Amit D. Munshi, the Company's President and Chief Executive Officer, is scheduled to present virtually at the 39th Annual J.P. Morgan Healthcare Conference on Wednesday, January 13, 2021, at 10:00 AM ET.

    A live webcast of the presentation will be posted under the investor relations section of Arena's website at www.arenapharm.com. A replay of the presentation will be available for 30 days following the event.

    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…

    SAN DIEGO, Dec. 22, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that Amit D. Munshi, the Company's President and Chief Executive Officer, is scheduled to present virtually at the 39th Annual J.P. Morgan Healthcare Conference on Wednesday, January 13, 2021, at 10:00 AM ET.

    A live webcast of the presentation will be posted under the investor relations section of Arena's website at www.arenapharm.com. A replay of the presentation will be available for 30 days following the event.

    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 participation in and webcast of the virtual presentation 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 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 Contacts:

    Patrick Malloy

    Arena Pharmaceuticals, Inc.

    Vice President, Investor Relations & Corporate Communications



    847.987.4878

    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-to-present-at-the-jp-morgan-healthcare-conference-on-january-13-301197737.html

    SOURCE Arena Pharmaceuticals, Inc.

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  8. SAN DIEGO, Dec. 18, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that on December 15, 2020, the Compensation Committee of its Board of Directors granted to five new employees inducement stock options to purchase an aggregate of 141,975 shares of its common stock and 2,460 inducement restricted stock units ("RSUs"). The inducement stock options and RSUs have a grant date and vesting commencement date of December 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 $71.26 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 inducement RSUs vest over four years, with 25% of the shares vesting on the first 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.

    Corporate Contacts:

    Patrick Malloy

    Arena Pharmaceuticals, Inc.

    Vice President, Investor Relations & Corporate Communications



    847.987.4878

    Megan E. Knight

    Arena Pharmaceuticals, Inc.

    Director, Investor Relations 



    858.210.3635

    Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/arena-pharmaceuticals-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-301196157.html

    SOURCE Arena Pharmaceuticals, Inc.

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  9. SAN DIEGO, Dec. 11, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that data from the Phase 2b ADVISE trial evaluating the safety and efficacy of etrasimod, a highly selective, once-daily, oral sphingosine 1-phosphate (S1P) receptor modulator, in participants with moderate-to-severe atopic dermatitis (AD), will be presented at the Revolutionizing Atopic Dermatitis (RAD) 2020 Virtual Conference.

    "I am pleased to present the topline results from the ADVISE Phase 2 trial which support the rationale for etrasimod as a potential oral, once-daily therapy with a novel mechanism of action for the treatment of atopic dermatitis. I look forward to seeing the advancement of etrasimod to the next phase of clinical development…

    SAN DIEGO, Dec. 11, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that data from the Phase 2b ADVISE trial evaluating the safety and efficacy of etrasimod, a highly selective, once-daily, oral sphingosine 1-phosphate (S1P) receptor modulator, in participants with moderate-to-severe atopic dermatitis (AD), will be presented at the Revolutionizing Atopic Dermatitis (RAD) 2020 Virtual Conference.

    "I am pleased to present the topline results from the ADVISE Phase 2 trial which support the rationale for etrasimod as a potential oral, once-daily therapy with a novel mechanism of action for the treatment of atopic dermatitis. I look forward to seeing the advancement of etrasimod to the next phase of clinical development," stated Robert Bissonnette, MD, FRCPC, Founder and CEO, Innovaderm Research. "There is a significant unmet clinical need for the development of novel oral therapeutic options for atopic dermatitis patients."

    Title: Results from ADVISE: a randomized, double-blind, placebo-controlled Phase 2 study of etrasimod, an oral, selective, sphingosine 1-phosphate receptor modulator, in adults with moderate-to-severe atopic dermatitis

    Presenter: Dr. Robert Bissonnette

    Authors: Jonathan Silverberg, Robert Bissonnette, Leon Kircik, Dedee Murrell, Andrew Selfridge, Gurpreet Ahluwalia, Kris Liu, Emma Guttman-Yassky

    Date/Time: 8:50 – 8:57 AM ET, Monday, December 14, 2020

    Session: Late-Breaking Research Session

    About Etrasimod

    Etrasimod (APD334) is a next generation, once-daily, oral, highly selective sphingosine 1-phosphate (S1P) receptor modulator discovered by Arena and designed for optimized pharmacology and engagement of S1P receptor 1, 4, and 5, which may lead to an improved efficacy and safety profile.

    Etrasimod is intended to provide systemic and local effects on specific immune cell types and has the potential to treat multiple immune-mediated inflammatory diseases including ulcerative colitis, Crohn's disease, eosinophilic esophagitis, atopic dermatitis, and alopecia areata.

    Etrasimod is an investigational compound that is not approved for any 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.

    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 may be identified by words such as "evaluating," "potential," "may," "will," and "designed for," and "intended to" and include, without limitation, statements about the following: the topline results from the ADVISE Phase 2 clinical trial supporting the rationale for etrasimod as a potential oral, once-daily therapy with a novel mechanism of action for the treatment of atopic dermatitis; the opportunity, development and potential of etrasimod, its therapeutic potential in immune-mediated inflammatory diseases such as atopic dermatitis, its ability to satisfy an unmet medical or clinical need, its potential effects, and its selectivity, safety, and activity; 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; the duration and severity of the COVID-19 pandemic, including but not limited to its impact on Arena's clinical trials and operations, the operations of Arena's suppliers, partners, collaborators, licensees, and the 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; risks and uncertainties relating to cash and revenues that may be generated from product sales or other sources, including the impact of competition; 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.

    Corporate Contacts:

    Patrick Malloy

    Arena Pharmaceuticals, Inc.

    Vice President, Investor Relations & Corporate Communications



    847.987.4878

    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-to-present-data-from-the-phase-2b-advise-trial--late-breaker-at-revolutionizing-atopic-dermatitis-conference-301191045.html

    SOURCE Arena Pharmaceuticals, Inc.

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  10. SAN DIEGO, Dec. 8, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that it has achieved its targeted enrollment goal of 372 participants in the Phase 3 ELEVATE UC 52 trial evaluating the safety and efficacy of once-daily etrasimod, a highly selective, once-daily, oral sphingosine 1-phosphate (S1P) receptor modulator, in participants with moderately-to-severely active ulcerative colitis. 

    "We are pleased that we have achieved our target enrollment and maintained momentum, conduct, and timelines across the global ELEVATE UC program. While we have achieved our enrollment goal for the ELEVATE UC 52 trial, we have made the decision to extend screening an additional three weeks based on the high number of participants…

    SAN DIEGO, Dec. 8, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that it has achieved its targeted enrollment goal of 372 participants in the Phase 3 ELEVATE UC 52 trial evaluating the safety and efficacy of once-daily etrasimod, a highly selective, once-daily, oral sphingosine 1-phosphate (S1P) receptor modulator, in participants with moderately-to-severely active ulcerative colitis. 

    "We are pleased that we have achieved our target enrollment and maintained momentum, conduct, and timelines across the global ELEVATE UC program. While we have achieved our enrollment goal for the ELEVATE UC 52 trial, we have made the decision to extend screening an additional three weeks based on the high number of participants that we currently have in the screening queue. We continue to expect topline data from both the ELEVATE UC 52 and UC 12 trials in Q1 2022. We remain highly focused on successful clinical trial execution with careful attention to data integrity and the safety of the trial participants," stated Sheldon Sloan, MD, Vice President and Global Team Leader, Etrasimod, at Arena.

    About ELEVATE UC 52

    ELEVATE UC 52 is one of two pivotal trials that are part of the ELEVATE UC global Phase 3 registrational program. ELEVATE UC 52 is a 2:1 randomized, double-blind, placebo-controlled trial to assess the efficacy and safety of etrasimod 2 mg once-daily in participants with moderately to severely active ulcerative colitis (UC) defined as a baseline 3-domain, modified Mayo Score of 4 to 9 with an endoscopic score of 2 or more, and a rectal bleeding score of 1 or more. This is a one-year trial evaluating clinical remission at 12 weeks, or induction, and at 52 weeks. The trial consists of a 28-day screening period, a 12-week treatment period, a 40-week treatment period, and a 2-week follow-up period. The primary objective of this trial is to assess the safety and efficacy of etrasimod on clinical remission after both 12 and 52 weeks. The primary endpoint is the FDA-required, 3-domain, modified Mayo Score, which is similar to the endpoint in the Phase 2 OASIS study. Key secondary measures include the efficacy of etrasimod on clinical response, symptomatic response and remission, endoscopic changes, corticosteroid-free remission, and a total healing in these participants at time points up to 52 weeks of treatment. The ELEVATE UC program is being conducted in over 400 sites across more than 40 countries.

    About Etrasimod

    Etrasimod (APD334) is a next generation, once-daily, oral, highly selective sphingosine 1-phosphate (S1P) receptor modulator discovered by Arena and designed for optimized pharmacology and engagement of S1P receptor 1, 4, and 5, which may lead to an improved efficacy and safety profile.

    Etrasimod is intended to provide systemic and local effects on specific immune cell types and has the potential to treat multiple immune-mediated inflammatory diseases including ulcerative colitis, Crohn's disease, eosinophilic esophagitis, atopic dermatitis, and alopecia areata.

    Etrasimod is an investigational compound that is not approved for any 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.

    ARENA - Care More. Act Differently.

    Forward-Looking Statements

    Statements in this press release that are not statements of historical fact are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements may be identified by words such as "on track," "potential," "may," "expect," "objective," "designed for," and "intended to," and include, without limitation, statements about the following: the opportunity, development and potential of etrasimod, including regarding its design, its therapeutic potential in immune-mediated inflammatory diseases such as UC, its ability to satisfy an unmet medical or clinical need, its potential effects, and its selectivity, safety, and activity; our expectation regarding the timing for topline data from the ELEVATE UC 12 and UC 52 trials; screening for the ELEVATE UC 52 trial remaining open for an additional three weeks; the significance of the ELEVATE UC 52 trial and its enrollment; 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; the duration and severity of the COVID-19 pandemic, including but not limited to its impact on Arena's clinical trials and operations, the operations of Arena's suppliers, partners, collaborators, licensees, and the 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; risks and uncertainties relating to cash and revenues that may be generated from product sales or other sources, including the impact of competition; 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.

    Corporate Contacts:

    Patrick Malloy

    Arena Pharmaceuticals, Inc.

    Vice President, Investor Relations & Corporate Communications

     

    847.987.4878

    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-achieves-target-enrollment-for-etrasimod-phase-3-elevate-uc-52-trial-301187942.html

    SOURCE Arena Pharmaceuticals, Inc.

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    • Paul D. Streck, M.D., Appointed as Senior Vice President, Clinical Development and Chief Medical Officer, Bringing Successful Development and Launch Experience Across Multiple Therapeutic Indications

    Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced a transition of its R&D leadership and the appointment of Paul D. Streck, M.D., as Senior Vice President, Clinical Development and Chief Medical Officer reporting to Amit Munshi, President and CEO. The transition follows the retirement and resignation of Chris Cabell, M.D., M.H.S., FACC, who served as the company's Executive Vice President, Head of Research and Development, and Chief Medical Officer since June 2020. The change is effective as of December 1, 2020 and Dr. Cabell will remain…

    • Paul D. Streck, M.D., Appointed as Senior Vice President, Clinical Development and Chief Medical Officer, Bringing Successful Development and Launch Experience Across Multiple Therapeutic Indications

    Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced a transition of its R&D leadership and the appointment of Paul D. Streck, M.D., as Senior Vice President, Clinical Development and Chief Medical Officer reporting to Amit Munshi, President and CEO. The transition follows the retirement and resignation of Chris Cabell, M.D., M.H.S., FACC, who served as the company's Executive Vice President, Head of Research and Development, and Chief Medical Officer since June 2020. The change is effective as of December 1, 2020 and Dr. Cabell will remain an advisor to the Company.

    Dr. Streck brings more than 25 years of experience in drug development, regulatory and medical affairs leadership across both large and small publicly traded biopharmaceutical companies, and a track record of success with six global regulatory launches, five IND's and nine commercial product launches.

    "Having Dr. Streck's deep executive experience as a physician in successful clinical development and medical affairs leadership roles puts Arena in a stronger position as we move toward completing late-stage clinical development into regulatory submission and pre-commercial planning. His proven global leadership roles across therapeutic indications provides for seamless integration for the Company's current and future clinical and regulatory activities," said Amit D. Munshi, Arena's President and Chief Executive Officer.

    "On behalf of Arena's Board of Directors and management team, we would like to thank Chris for his ability to step into a critical role during an important time at our company. We wish him the best in his future endeavors."

    Most recently, Dr. Streck served as Chief Medical Officer at Alder Biopharmaceuticals, Inc., a publicly traded biotechnology company, acquired by Lundbeck in late 2019. In this role, Dr. Streck led clinical development, clinical operations, medical affairs, regulatory, and safety/pharmacovigilance, and drove U.S. approval of Vyepti®, a biologic medicine for prevention of migraines. From 2017-2019, Dr. Streck was the Chief Medical Officer of Insmed, Inc., a publicly traded biotechnology company. Previous biopharmaceutical experience includes progressive roles at Amgen, Shire, and GSK. He also has 10 years of experience in academic medical practice.

    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. Streck'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.

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  11. SAN DIEGO, Nov. 24, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that Amit D. Munshi, the Company's President and Chief Executive Officer, is scheduled to participate in a virtual fireside chat at the 3rd Annual Evercore ISI HealthCONx Conference on Tuesday, December 1, at 4:20 PM ET.

    A live webcast of the presentation will be posted under the investor relations section of Arena's website at www.arenapharm.com. A replay of the presentation will be available for 30 days following the event.

    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…

    SAN DIEGO, Nov. 24, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that Amit D. Munshi, the Company's President and Chief Executive Officer, is scheduled to participate in a virtual fireside chat at the 3rd Annual Evercore ISI HealthCONx Conference on Tuesday, December 1, at 4:20 PM ET.

    A live webcast of the presentation will be posted under the investor relations section of Arena's website at www.arenapharm.com. A replay of the presentation will be available for 30 days following the event.

    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 participation in and webcast of the virtual fireside chat presentation 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 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 Contacts:

    Patrick Malloy

    Arena Pharmaceuticals, Inc.

    Vice President, Investor Relations & Corporate Communications



    847.987.4878

    Megan E. Knight

    Arena Pharmaceuticals, Inc.

    Director, Investor Relations 



    858.210.3635

    Arena Pharmaceuticals Logo

     

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    SOURCE Arena Pharmaceuticals, Inc.

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  12. SAN DIEGO, Nov. 19, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that on November 15, 2020, the Compensation Committee of its Board of Directors granted to 13 new employees inducement stock options to purchase an aggregate of 96,025 shares of its common stock and 17,590 inducement restricted stock units ("RSUs"). The inducement stock options and RSUs have a grant date and vesting commencement date of November 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 $66.68 per share, the closing price…

    SAN DIEGO, Nov. 19, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that on November 15, 2020, the Compensation Committee of its Board of Directors granted to 13 new employees inducement stock options to purchase an aggregate of 96,025 shares of its common stock and 17,590 inducement restricted stock units ("RSUs"). The inducement stock options and RSUs have a grant date and vesting commencement date of November 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 $66.68 per share, the closing price of Arena's common stock on the last trading date 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 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.

    Corporate Contacts:

    Patrick Malloy

    Arena Pharmaceuticals, Inc.

    Vice President, Investor Relations & Corporate Communications

     

    847.987.4878

    Megan E. Knight

    Arena Pharmaceuticals, Inc.

    Director, Investor Relations 

     

    858.210.3635

    Arena Pharmaceuticals Logo

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    SOURCE Arena Pharmaceuticals, Inc.

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  13. SAN DIEGO, Calif., Nov. 9, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today provided a corporate update and reported financial results for the third quarter ended September 30, 2020.

    "Over the quarter we made significant progress across our pipeline – most importantly with the results from the ADVISE trial giving us confidence to move expeditiously into a registrational program. Additionally, we initiated the ELEVATE UC 12, GLADIATOR UC and alopecia areata trials. We completed enrollment of the CAPTIVATE Phase 2b trial for olorinab, keeping us on track for expected topline data in Q1. In addition, we have completed the Phase 1 trial of APD418 and have plans to initiate our Phase 2 program in 2021. We also successfully spun-off…

    SAN DIEGO, Calif., Nov. 9, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today provided a corporate update and reported financial results for the third quarter ended September 30, 2020.

    "Over the quarter we made significant progress across our pipeline – most importantly with the results from the ADVISE trial giving us confidence to move expeditiously into a registrational program. Additionally, we initiated the ELEVATE UC 12, GLADIATOR UC and alopecia areata trials. We completed enrollment of the CAPTIVATE Phase 2b trial for olorinab, keeping us on track for expected topline data in Q1. In addition, we have completed the Phase 1 trial of APD418 and have plans to initiate our Phase 2 program in 2021. We also successfully spun-off our neurology franchise with the inception of Longboard Pharmaceuticals, to help unlock the value of those assets," said Amit D. Munshi, President and CEO of Arena. "We are optimistic about the next 12-18 months as we continue our efforts to build long-term value for all of our stakeholders and execute on key catalysts."

    Program Updates

    • Etrasimod atopic dermatitis (AD) ADVISE Phase 2b trial delivered topline results; moving forward into a Phase 3 registrational program
    • Etrasimod ELEVATE UC 52 Phase 3 trial in ulcerative colitis (UC) ongoing and on track to complete enrollment by year-end 2020, with the 52-week treatment period ending by year-end 2021 and data expected shortly thereafter; ELEVATE UC 12 Phase 3 trial was initiated, continues to make strong progress with data expected in the same timeframe as UC 52; we continue to monitor the impact of the COVID-19 resurgence on study enrollment for both UC 52 and UC 12
    • Etrasimod GLADIATOR UC Phase 2 planning; initiation expected in Q1 2021 dependent on COVID-19 impact
    • Etrasimod CULTIVATE Phase 2/3 trial in Crohn's disease (CD) ongoing; confirming topline dose-ranging data in 2021; continue to suspend overall program guidance based on COVID-19 impact
    • Etrasimod eosinophilic esophagitis (EoE) Phase 2b VOYAGE trial with initiation expected in 2020 but dependent on COVID-19 impact
    • Etrasimod alopecia areata (AA) Phase 2 initiated; topline data expected H2 2021
    • Olorinab CAPTIVATE Phase 2b trial in abdominal pain associated with irritable bowel syndrome (IBS-C, IBS-D) enrollment completed; topline data expected Q1 2021
    • APD418 in acute heart failure (AHF) with Fast Track designation; completed the first-in-human Phase 1 trial; APD418 was generally well tolerated; Phase 2 planning ongoing

    Business Update

    • In October 2020, Arena announced the launch and the completion of a $56 million financing of Longboard (formerly Arena Neuroscience), an independent company focused on advancing investigational therapies for rare neurological diseases. Arena shareholders will continue to participate in the value of these assets via Arena's equity position in the new company and potential future royalty streams.

    Financial Update

    Third Quarter 2020 Financial Results

    • Revenues for the third quarter were $20,000 compared to $1.4 million in the third quarter of 2019
    • Research and development (R&D) expenses for the third quarter totaled $79.8 million compared to $60.3 million in the same period 2019. This increase was primarily driven by our advancing clinical studies, including the etrasimod Phase 3 program, as well as an increase in personnel expenses as we staff to support our clinical programs. The R&D non-cash, share-based compensation was $6.6 million in the third quarter as compared to $6.7 million in the same period 2019
    • Selling, general and administrative (SG&A) expenses for the third quarter totaled $19.0 million, compared to $20.4 million in the third quarter of 2019. This decrease was primarily driven by a decrease in legal, accounting and other professional fees partially offset by an increase in personnel expenses. The SG&A non-cash, share-based compensation was $5.8 million in the third quarter as compared to $6.6 million in the same period 2019
    • Net loss for the third quarter was $97.4 million compared to net loss of $72.9 million for the same period in 2019
    • Basic and diluted net loss per share for the third quarter was $1.69 compared to basic and diluted net loss per share of $1.46 for the same period in 2019
    • Cash, cash equivalents and marketable securities were $1.2 billion at September 30, 2020, as compared to $1.3 billion at June 30, 2020

    Financial Outlook for 2020

    Arena's 2020 financial guidance range:

    • Cash used in operating activities for the full-year 2020 is expected to be $345 to $355 million, down compared to our previous guidance of $400 to $430 million. Arena continues to achieve key milestones while 2020 full-year operating expenses decrease due to clinical trial efficiency and continued focus on optimizing spend

    Conference Call & Webcast Information

    Arena will host a conference call and live webcast the investment community today, Monday, November 9, 2020, at 4:30 PM ET, to discuss the financial results and corporate update.

    When: Monday, November 9, 2020, at 4:30 PM ET

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

    Conference ID: 6166976

    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 APD418 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 "expected," "will," "long-term," "outlook," and "guidance" and include, without limitation, statements about the following: Arena's clinical programs, including plans to advance etrasimod into a registrational program in atopic dermatitis, expectations regarding enrollment of study participants and the timing of data readouts for ongoing and anticipated trials, and expectations for the commencement of additional trials; the statements under "Program Updates" above; and Arena's financial outlook and guidance, including expectations regarding cash to be used in operating activities and the rate of change thereof. 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 patients in Arena's ongoing and intended clinical trials is competitive and challenging; the duration and severity of 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; 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, 2019, which was filed with the SEC on February 27, 2020, and Arena's Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, which was filed with the SEC on August 5, 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 Contacts:

    Patrick Malloy

    Arena Pharmaceuticals, Inc.

    Vice President, Investor Relations & Corporate Communications



    847.987.4878

    Megan E. Knight

    Arena Pharmaceuticals, Inc.

    Director, Investor Relations 



    858.210.3635

     

    (Tables Follow)



    Arena Pharmaceuticals, Inc.

    Condensed Consolidated Statements of Operations

    (In thousands, except per share amounts)







    Three months ended





    Nine months ended







    September 30,





    September 30,







    2020





    2019





    2020





    2019







    (unaudited)





    (unaudited)



    Revenues

































    United Therapeutics revenue



    $





    $





    $





    $

    800,000



    Royalty revenue











    811







    262







    2,725



    Collaboration and other revenue





    20







    539







    20







    704



    Total revenues





    20







    1,350







    282







    803,429





































    Operating Costs & Expenses

































    Research & development





    79,820







    60,257







    223,299







    156,864



    Selling, general & administrative





    19,002







    20,428







    68,321







    55,373



    Transaction costs























    14,573



    Total operating costs & expenses





    98,822







    80,685







    291,620







    226,810



    Income (loss) from operations





    (98,802)







    (79,335)







    (291,338)







    576,619





































    Total interest & other income (expense), net





    1,364







    6,470







    8,765







    19,580



    Income (loss) before income taxes





    (97,438)







    (72,865)







    (282,573)







    596,199



    Income tax provision























    (110,333)



    Net income (loss)



    $

    (97,438)





    $

    (72,865)





    $

    (282,573)





    $

    485,866





































    Net income (loss) per share, basic:



    $

    (1.69)





    $

    (1.46)





    $

    (5.27)





    $

    9.78



    Net income (loss) per share, diluted:



    $

    (1.69)





    $

    (1.46)





    $

    (5.27)





    $

    9.39





































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





    57,779







    49,864







    53.608







    49,667



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





    57,779







    49,864







    53,608







    51,763



     

     

    Arena Pharmaceuticals, Inc.

    Condensed Consolidated Balance Sheet Data

    (In thousands)

    (Unaudited)







    September 30, 2020





    December 31, 2019

















    1



    Assets

















    Cash & cash equivalents



    $

    460,145





    $

    243,274



    Prepaid expenses & other current assets





    34,383







    20,369



    Total available-for-sale investments





    741,005







    867,229



    Land, property & equipment, net





    22,913







    25,128



    Other non-current assets





    17,097







    18,123



    Total assets



    $

    1,275,543





    $

    1,174,123





















    Liabilities & Stockholders' Equity

















    Accounts payable & accrued liabilities



    $

    47,647





    $

    41,153



    Total lease financing obligations & other long-term liabilities





    57,969







    61,505



    Total stockholders' equity





    1,169,927







    1,071,465



    Total liabilities & stockholders' equity



    $

    1,275,543





    $

    1,174,123





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

     

     

    Arena Pharmaceuticals Logo

     

     

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  14. SAN DIEGO, Nov. 9, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced topline results from the Phase 2b ADVISE clinical trial evaluating etrasimod, a highly selective, once-daily, oral sphingosine 1-phosphate (S1P) receptor modulator, for the treatment of moderate-to-severe atopic dermatitis (AD).

    "Today is an important day for Arena as we achieved our key objectives for the ADVISE trial which were to evaluate safety and efficacy of etrasimod in a dermatologic population, and to inform dose and design decisions for a pivotal Phase 3 program. We believe the clinical benefits of etrasimod in this trial were impressive, especially given the challenges of conducting a Phase 2 trial with a novel MOA in atopic…

    SAN DIEGO, Nov. 9, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced topline results from the Phase 2b ADVISE clinical trial evaluating etrasimod, a highly selective, once-daily, oral sphingosine 1-phosphate (S1P) receptor modulator, for the treatment of moderate-to-severe atopic dermatitis (AD).

    "Today is an important day for Arena as we achieved our key objectives for the ADVISE trial which were to evaluate safety and efficacy of etrasimod in a dermatologic population, and to inform dose and design decisions for a pivotal Phase 3 program. We believe the clinical benefits of etrasimod in this trial were impressive, especially given the challenges of conducting a Phase 2 trial with a novel MOA in atopic dermatitis," stated Chris Cabell, MD, MHS, FACC, Executive Vice President, Head of Research and Development, and Chief Medical Officer at Arena. "We look forward to advancing etrasimod into a Phase 3 program in atopic dermatitis. We would like to thank the patients, trial coordinators and investigators who participated in this important trial."

    In the ADVISE trial, the participants were representative of a moderate patient population (82.9% baseline vIGA 3) which constitutes upward of 40% of the AD market1. In the primary analysis, nearly one-third of participants in the 2 mg etrasimod group achieved clear or almost clear skin, as defined by the validated Investigator Global Assessment (vIGA) – the FDA endpoint for Phase 3 registration.  Importantly, the vIGA improvement was statistically significant vs. placebo at 12 weeks. Across the Eczema Area and Severity Index (EASI), EASI-75 and peak change in pruritis, etrasimod 2 mg demonstrated early and statistically significant effect at week 4. Etrasimod did not meet the Ph 2b primary endpoint of EASI change from baseline at week 12 as compared to placebo.

    Overall, the 12-week study showed no plateau of effect, and the safety profile was consistent with previous trials of etrasimod including low first dose heart rate effect with no titration, and no serious adverse events (SAEs) across the groups. In the etrasimod groups, there were no cases of venous thromboembolic events, opportunistic or serious infections, macular edema, conjunctivitis, acne or herpes zoster. Additionally, none of the other adverse events commonly associated with first-generation S1P receptor modulators were seen in this trial.

    Between weeks 4-8, the trial was impacted by unwarranted dose interruption (not related to drug safety) in 19% (n=9) of the etrasimod 2 mg group. Adjusting for this dose interruption – a post-hoc Completer Analysis with participants receiving full therapeutic exposure – etrasimod 2 mg showed statistically significant effect on the EASI score compared to placebo (weeks 4 and 12), EASI-75 at week 4, vIGA at week 12 and pruritis through week 8.

    Importantly, the analysis of the participant cohort with dose interruption showed diminished clinical effect upon withdrawal and a recapture of effect upon reinstatement of study drug consistent with the pharmacodynamics (PD) of etrasimod.

    Based on the compelling profile in this moderate AD population, etrasimod will be proceeding into a Phase 3 registrational program.

    "I was encouraged by etrasimod's ability to demonstrate early differentiation from placebo and continued improvement to week 12 and a favorable safety profile. These data support moving forward to the next stage of clinical development," stated Emma Guttman, MD, PhD, Sol and Clara Kest Professor and the Incoming Chair at the Department of Dermatology, Director of the Center for Excellence in Eczema, and Director of the Laboratory of Inflammatory Skin Diseases at the Icahn School of Medicine at Mount Sinai Medical Center, New York.

    "The results of the ADVISE trial are promising. In particular the efficacy as measured by improvement in vIGA will be important in determining the dose and design of the Phase 3 registrational program," said Jonathan I. Silverberg, MD, PhD, MPH, Associate Professor of Dermatology, Director of Clinical Research, and Director of Patch Testing, at the George Washington University School of Medicine and Health Sciences.

    Arena plans to submit additional data from the ADVISE trial to future medical meetings and for publication in a peer-reviewed journal.

    1 DRG AD Disease Landscape & Forecast 2019; Barbarot S, 2018/ Ronmark E, 2012; Spherix Q2 2020 Report (physician survey)

    Conference Call & Webcast Information

    Arena will host a conference call and live webcast with the investment community today at 4:30 PM ET, to discuss the topline data

    When: Monday, November 9, 2020, at 4:30 PM ET

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

    Conference ID: 6166976

    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. Shortly after the call, a replay of the conference call will be archived under the events and presentations section of Arena's website and available for 30 days thereafter.

    About ADVISE

    ADVISE was a Phase 2b multicenter, randomized, double-blinded, placebo-controlled trial to assess the safety and efficacy of once-daily etrasimod in subjects with moderate-to-severe atopic dermatitis. The primary endpoint measured was percent change in Eczema Area and Severity Index (EASI) from baseline to week 12, followed by a 4-week follow-up observation period. Secondary endpoints include the proportion of participants achieving EASI-75, proportion of participants with a validated Investigator Global Assessment (vIGA) 0 to 1, and percent change in peak pruritis. The ADVISE trial enrolled approximately 140 subjects and was conducted in study sites across the United States, Canada and Australia. An open-label extension of the ADVISE trial is ongoing.

    About Atopic Dermatitis

    Atopic dermatitis (AD) is a serious, chronic immune-mediated disease in which symptoms vary, but often include severe dry skin, itching, patches, swollen skin and raised bumps which may leak fluid.

    About Etrasimod

    Etrasimod (APD334) is a next generation, once-daily, oral, highly selective sphingosine 1-phosphate (S1P) receptor modulator discovered by Arena and designed for optimized pharmacology and engagement of S1P receptor 1, 4 and 5, which may lead to an improved efficacy and safety profile.

    Etrasimod is intended to provide systemic and local effects on specific immune cell types and has the potential to treat multiple immune-mediated inflammatory diseases including ulcerative colitis, Crohn's disease, eosinophilic esophagitis, atopic dermatitis, and alopecia areata.

    Etrasimod is an investigational compound that is not approved for any 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.

    ARENA - Care More. Act Differently.

    Drs. Guttman and Silverberg are paid consultants of Arena.

    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 "believe," "look forward," "promising," "will," "plans," "may," "designed for," and "potential," and include, without limitation, statements about the following: Arena's plans to advance etrasimod into a Phase 3 registrational program in atopic dermatitis, the potential clinical benefits of etrasimod, Arena's plans to submit additional data from the ADVISE study for publication in a peer-reviewed journal, 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: 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 duration and severity of 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, 2019, which was filed with the SEC on February 27, 2020, and Arena's Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, which was filed with the SEC on August 5, 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 Contacts:

    Patrick Malloy

    Arena Pharmaceuticals, Inc.

    Vice President, Investor Relations & Corporate Communications



    847.987.4878

    Megan E. Knight

    Arena Pharmaceuticals, Inc.

    Director, Investor Relations 



    858.210.3635

    Arena Pharmaceuticals Logo

     

     

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  15. SAN DIEGO, Nov. 2, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) will release its third quarter 2020 financial results and provide a corporate update on Monday, November 9, 2020, after the close of the U.S. financial markets. The Company will host a conference call and live webcast to discuss the results with the investment community the same day at 4:30 PM ET.

    Conference Call & Webcast Information
    When: Monday, November 9, 2020, at 4:30 PM ET
    Dial-in: (877) 643-7155 (United States) or (914) 495-8552 (International)
    Conference ID: 6166976

    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 event will be archived…

    SAN DIEGO, Nov. 2, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) will release its third quarter 2020 financial results and provide a corporate update on Monday, November 9, 2020, after the close of the U.S. financial markets. The Company will host a conference call and live webcast to discuss the results with the investment community the same day at 4:30 PM ET.

    Conference Call & Webcast Information

    When: Monday, November 9, 2020, at 4:30 PM ET

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

    Conference ID: 6166976

    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 event 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.

    Corporate Contacts:

    Patrick Malloy

    Arena Pharmaceuticals, Inc.

    Vice President, Investor Relations & Corporate Communications



    847.987.4878

    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-to-release-third-quarter-2020-financial-results-and-provide-corporate-update-on-november-9-301164378.html

    SOURCE Arena Pharmaceuticals, Inc.

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  16. SAN DIEGO, Oct. 28, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), and Longboard Pharmaceuticals, Inc., today announced the launch of Longboard Pharmaceuticals and the completion of a $56 million financing led by Farallon Capital Management, LLC, and other top tier healthcare investors, including Cormorant Asset Management, HBM Healthcare Investments, Highside Capital Management, and T. Rowe Price Associates, with participation from Arena. Longboard was previously a wholly-owned subsidiary of Arena and formerly known as Arena Neuroscience. Vincent Aurentz, Executive Vice President and Chief Business Officer of Arena, and Laurie Stelzer, Executive Vice President and Chief Financial Officer of Arena, will serve on Longboard's…

    SAN DIEGO, Oct. 28, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), and Longboard Pharmaceuticals, Inc., today announced the launch of Longboard Pharmaceuticals and the completion of a $56 million financing led by Farallon Capital Management, LLC, and other top tier healthcare investors, including Cormorant Asset Management, HBM Healthcare Investments, Highside Capital Management, and T. Rowe Price Associates, with participation from Arena. Longboard was previously a wholly-owned subsidiary of Arena and formerly known as Arena Neuroscience. Vincent Aurentz, Executive Vice President and Chief Business Officer of Arena, and Laurie Stelzer, Executive Vice President and Chief Financial Officer of Arena, will serve on Longboard's Board of Directors.

    Kevin R. Lind, President & CEO, Longboard Pharmaceuticals

    Longboard is focused on developing novel central nervous system (CNS)-targeted assets discovered by Arena's validated world-class G protein-coupled receptor (GPCR) research engine.  Proceeds from the financing will be used to support the development of LP352, a clinical stage program for treatment-resistant developmental and epileptic encephalopathies (DEE), and preclinical programs relating to LP143 and LP659 for the potential treatment of microglial neuroinflammatory diseases.

    "When the new leadership team joined Arena in 2016, we realized the promise of the assets that were discovered and optimized over decades of world-class GPCR research. Our goal has been to maximize the value of the pipeline for shareholders, and more importantly to deliver potentially life-changing medicines to patients suffering from grievous illnesses. With the launch of Longboard, we believe these compounds will receive the focus they deserve, and Arena shareholders will continue to participate in the value of these assets via Arena's equity position in the new company and future royalty streams," said Amit D. Munshi, President & Chief Executive Officer of Arena.

    "We are focused on advancing these compounds with the goal of helping underserved patients living with devastating neurological conditions," stated Kevin R. Lind, President & Chief Executive Officer of Longboard. "I want to thank the Arena management team and Board of Directors for conceiving this idea, the broader Arena team for helping us execute on the strategy, and our new investors for supporting this endeavor. I look forward to leading Longboard as we strive to deliver multiple important medicines."

    LP352, LP143 and LP659 are investigational compounds that are not approved for any 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.

    ARENA - Care More. Act Differently.

    About Longboard Pharmaceuticals

    Longboard Pharmaceuticals is a team driven to deliver novel, transformational medicines with optimized pharmacology and pharmacokinetics to patients with rare neurological diseases. Longboard's proprietary pipeline includes multiple potentially first- or best-in-class programs with broad clinical utility. Longboard is evaluating LP352, a next-generation 5-HT2C agonist, in development for the potential treatment of developmental and epileptic encephalopathies, or DEEs. Longboard is also evaluating LP143, a centrally acting, full agonist of the cannabinoid type 2 receptor (CB2), and LP659, a centrally acting, next-generation, highly selective S1P receptor modulator. 

    Longboard, formerly known as Arena Neuroscience, was a wholly-owned subsidiary of Arena Pharmaceuticals, Inc. until its launch in October 2020.  Longboard's compounds were discovered and evolved out of Arena's validated world-class GPCR research engine.  

    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 "focused on," "will," "potential," "promise," "goal," "believe," "strategy," "look forward to," "strive to," "excited to," "aim to," and "evaluating," and include, without limitation, statements about the following: Arena shareholders participating in the value of the assets in Longboard Pharmaceuticals' pipeline through Arena's equity position in Longboard Pharmaceuticals and future royalty streams, the potential broad applicability, market potential and other attributes of the assets in Longboard Pharmaceuticals' pipeline, and Arena's and Longboard'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 preclinical 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 or Longboard's drug candidates may not advance in development or be approved for marketing; the duration and severity of the COVID-19 pandemic, including but not limited to its impact on Arena's clinical trials and operations, the operations of Arena's and Longboard's suppliers, partners, collaborators, licensees, and the capital markets, which in each case remains uncertain; risks related to developing and commercializing drugs; Arena and Longboard may need additional funds to advance all of their programs; risks and uncertainties relating to cash and revenues that may be generated from product sales or other sources, including the impact of competition; 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, Longboard, 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, Longboard'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 June 30, 2020, which was filed with the SEC on August 5, 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 Corporate Contacts:

    Patrick Malloy

    Vice President, Investor Relations & Corporate Communications



    847.987.4878

    Megan E. Knight

    Director, Investor Relations 



    858.210.3635

    Longboard Corporate Contact:

    Kevin R. Lind

    President & CEO



    619.592.9775

    Longboard Pharmaceuticals Logo

     

    Arena Pharmaceuticals Logo

     

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    SOURCE Arena Pharmaceuticals, Inc.; Longboard Pharmaceuticals, Inc.

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  17. SAN DIEGO, Oct. 20, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that on October 15, 2020, the Compensation Committee of its Board of Directors granted to seven new employees inducement stock options to purchase an aggregate of 66,475 shares of its common stock and 11,760 inducement restricted stock units ("RSUs"). The inducement stock options and RSUs have a grant date and vesting commencement date of October 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 $81.57 per share, the closing price…

    SAN DIEGO, Oct. 20, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that on October 15, 2020, the Compensation Committee of its Board of Directors granted to seven new employees inducement stock options to purchase an aggregate of 66,475 shares of its common stock and 11,760 inducement restricted stock units ("RSUs"). The inducement stock options and RSUs have a grant date and vesting commencement date of October 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 $81.57 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 inducement RSUs vest over four years, with 25% of the shares vesting on the first 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.

    Corporate Contact:

    Megan E. Knight

    Arena Pharmaceuticals, Inc.

    Director, Investor Relations 



    858.210.3635

    Arena Media Contact: 

     

    858.453.7200 

    Arena Pharmaceuticals Logo

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    SOURCE Arena Pharmaceuticals, Inc.

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  18. SAN DIEGO, Oct. 9, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) will present new data from the Phase 2 OASIS trial and its open-label extension for its investigative drug candidate etrasimod, a next-generation, once-daily, oral, highly selective sphingosine 1-phosphate (S1P) receptor modulator, in patients with moderately to severely active ulcerative colitis (UC) at the 26th Annual United European Gastroenterology (UEG) Week. Arena will also present preclinical data for olorinab, a peripherally acting, highly selective, full agonist of the cannabinoid receptor 2 (CB2), in development for the treatment of visceral pain in gastrointestinal (GI) diseases. UEG Week is taking place virtually October 11-13, 2020.

    Arena Sponsored

    SAN DIEGO, Oct. 9, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) will present new data from the Phase 2 OASIS trial and its open-label extension for its investigative drug candidate etrasimod, a next-generation, once-daily, oral, highly selective sphingosine 1-phosphate (S1P) receptor modulator, in patients with moderately to severely active ulcerative colitis (UC) at the 26th Annual United European Gastroenterology (UEG) Week. Arena will also present preclinical data for olorinab, a peripherally acting, highly selective, full agonist of the cannabinoid receptor 2 (CB2), in development for the treatment of visceral pain in gastrointestinal (GI) diseases. UEG Week is taking place virtually October 11-13, 2020.

    Arena Sponsored Symposium Details: 

    Title: Opening the Door to Emerging Investigational Treatments in Ulcerative Colitis: What Awaits Us?

    Intended Audience: This symposium is designed for non-US healthcare professionals and is not affiliated with UEGW

    Speakers: William Sandborn, MD (Chair), Professor Silvio Danese, Remo Panaccione, MD, FRCPC

    Day/Time: Monday, October 12 at 17:30 CET

    Presentation Details:

    Title: Early and Durable Symptom Control in Patients with Moderately to Severely Active Ulcerative Colitis Treated with Etrasimod in the Randomised, Double Blind, Placebo Controlled, Phase 2 OASIS Trial and Open Label Extension

    Day/Time: Tuesday, October 13, 2020, from 15:00-16:00 CET

    ePoster: P0481

    Title: Expression of Cannabinoid Receptors and the Effect of Olorinab, a Peripherally Acting, Highly Selective, Full Agonist of the Cannabinoid Receptor 2, on Visceral Hypersensitivity in Rodent Models of Irritable Bowel Syndrome and Inflammatory Bowel Disease 

    Day/Time: Sunday, October 11, 2020, 18:00-19:00 CET    

    Oral presentation: OP058    

    Title: The Incremental Increasing Rate of Thromboembolic Events in Patients with Inflammatory Bowel Disease Compared to Patients Without Autoimmune Disorder   

    Event: Virtual poster exhibition

    ePoster: P0377                    

    About Etrasimod

    Etrasimod (APD334) is a once-daily, oral, highly selective sphingosine 1-phosphate (S1P) receptor modulator, discovered by Arena, designed to provide systemic and local cell modulation by targeting S1P receptor subtypes 1, 4 and 5. Etrasimod has therapeutic potential in immune and inflammatory-mediated diseases such as ulcerative colitis, Crohn's disease, and atopic dermatitis. S1P receptors have been demonstrated to be involved in the modulation of several biological responses, including lymphocyte trafficking from lymph nodes to the peripheral blood. By isolating subpopulations of lymphocytes in lymph nodes, fewer immune cells are available in the circulating blood to effect tissue damage.

    About Olorinab

    Olorinab (APD371) is an oral, peripherally acting, highly selective, full agonist of the cannabinoid type 2 receptor (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 type 1 receptor (CB1), was designed to provide pain relief while minimizing the risk of psychoactive adverse effects.

    Etrasimod and olorinab are investigational compounds that are not approved for any 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.

    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 participation in UEG Week, including its symposium, and data presentations; the opportunity, development and potential of etrasimod and olorinab; 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 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

     

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    SOURCE Arena Pharmaceuticals, Inc.

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  19. SAN DIEGO, Oct. 1, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that it has completed full enrollment of the Phase 2b CAPTIVATE trial evaluating olorinab, an investigational, oral, highly-selective, full agonist of the cannabinoid type 2 receptor (CB2), for the potential treatment of abdominal pain in irritable bowel syndrome (IBS). The trial enrolled 273 study participants at approximately 70 clinical sites across the United States, with a primary efficacy endpoint assessing improvement in the weekly Average Abdominal Pain Scale (AAPS) from baseline to week 12.

    "With almost 80 percent of IBS patients experiencing recurring or continuous abdominal pain, we are pleased to announce our progress on the CAPTIVATE…

    SAN DIEGO, Oct. 1, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that it has completed full enrollment of the Phase 2b CAPTIVATE trial evaluating olorinab, an investigational, oral, highly-selective, full agonist of the cannabinoid type 2 receptor (CB2), for the potential treatment of abdominal pain in irritable bowel syndrome (IBS). The trial enrolled 273 study participants at approximately 70 clinical sites across the United States, with a primary efficacy endpoint assessing improvement in the weekly Average Abdominal Pain Scale (AAPS) from baseline to week 12.

    "With almost 80 percent of IBS patients experiencing recurring or continuous abdominal pain, we are pleased to announce our progress on the CAPTIVATE trial, evaluating olorinab as a potential non-opioid treatment option for patients and physicians," stated Chris Cabell, MD, MHS, FACC, Executive Vice President, Head of Research and Development, and Chief Medical Officer at Arena. "Olorinab is highly-selective and peripherally acting which we believe may translate into sustained pain relief with minimal drug abuse liability for patients across a broad range of conditions. We are extremely proud of the team that has worked diligently to enroll this trial, and we look forward to seeing topline Phase 2 data in early 2021."

    About CAPTIVATE

    CAPTIVATE is a Phase 2, multi-center, randomized, double-blind, placebo-controlled, 12-week study of olorinab in 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 Scale (AAPS) from baseline. The CAPTIVATE trial is being conducted at approximately 70 study sites across the United States.

    About Olorinab

    Olorinab (APD371) is an oral, peripherally acting, highly-selective, full agonist of the cannabinoid type 2 receptor (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 type 1 receptor (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 any 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.

    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 may be identified by words such as "evaluating," "potential," "believe," "may," "look forward to," "will," "objective," "exploring," and "designed to," and include, without limitation, statements about the following: the opportunity, development and potential of olorinab, including regarding its design, its therapeutic potential in visceral pain in gastrointestinal disorders such as irritable bowel syndrome (IBS), its ability to satisfy an unmet medical or clinical need, its potential for lower risk of abuse and psychoactive adverse effects, and its selectivity, safety, and activity; the CAPTIVATE trial, including anticipated timing of topline data; the significance of the trial and its enrollment; 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; the duration and severity of the COVID-19 pandemic, including but not limited to its impact on Arena's clinical trials and operations, the operations of Arena's suppliers, partners, collaborators, licensees, and the 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; risks and uncertainties relating to cash and revenues that may be generated from product sales or other sources, including the impact of competition; 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 June 30, 2020, which was filed with the SEC on August 5, 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 Media Contact: 

     

    858.453.7200 

     

    Arena Pharmaceuticals Logo

     

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    SOURCE Arena Pharmaceuticals, Inc.

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  20. SAN DIEGO, Sept. 18, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that on September 15, 2020, the Compensation Committee of its Board of Directors granted to nine new employees inducement stock options to purchase an aggregate of 68,825 shares of its common stock and 12,420 inducement restricted stock units ("RSUs"). The inducement stock options and RSUs have a grant date and vesting commencement date of September 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 $69.25 per share, the closing…

    SAN DIEGO, Sept. 18, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that on September 15, 2020, the Compensation Committee of its Board of Directors granted to nine new employees inducement stock options to purchase an aggregate of 68,825 shares of its common stock and 12,420 inducement restricted stock units ("RSUs"). The inducement stock options and RSUs have a grant date and vesting commencement date of September 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 $69.25 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 inducement RSUs vest over four years, with 25% of the shares vesting on the first 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.

    Corporate Contact:

    Megan E. Knight

    Arena Pharmaceuticals, Inc.

    Director, Investor Relations 



    858.210.3635

    Arena Media Contact: 

     

    858.453.7200 

    Arena Pharmaceuticals Logo

     

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    SOURCE Arena Pharmaceuticals, Inc.

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  21. SAN DIEGO, Sept. 18, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that Amit D. Munshi, the Company's President and Chief Executive Officer, will present a corporate update at the Jefferies Virtual Next Generation IBD Therapeutics Summit on Wednesday, September 23, at 1:45 PM ET.                                         

    A live audio webcast of the presentation will be posted under the investor relations section of Arena's website at www.arenapharm.com. A replay of the presentation will be available for 30 days following the event.

    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 participation in upcoming investor conference 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 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

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    SOURCE Arena Pharmaceuticals, Inc.

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  22. SAN DIEGO, Sept. 16, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that the first subject has been dosed in the ELEVATE UC 12 global Phase 3 trial evaluating etrasimod, an investigational, next-generation, once-daily, oral, selective sphingosine 1-phosphate (S1P) receptor modulator, for the potential treatment of moderately to severely active ulcerative colitis. ELEVATE UC 12 is the second of two pivotal trials within the Phase 3 ELEVATE UC registrational program to assess the safety and efficacy of etrasimod 2 mg.

    "The enrollment of the first patient in ELEVATE UC 12 is an important milestone in the development of etrasimod, an oral, once-daily option, with a novel mechanism of action," stated Timothy Ritter

    SAN DIEGO, Sept. 16, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that the first subject has been dosed in the ELEVATE UC 12 global Phase 3 trial evaluating etrasimod, an investigational, next-generation, once-daily, oral, selective sphingosine 1-phosphate (S1P) receptor modulator, for the potential treatment of moderately to severely active ulcerative colitis. ELEVATE UC 12 is the second of two pivotal trials within the Phase 3 ELEVATE UC registrational program to assess the safety and efficacy of etrasimod 2 mg.

    "The enrollment of the first patient in ELEVATE UC 12 is an important milestone in the development of etrasimod, an oral, once-daily option, with a novel mechanism of action," stated Timothy Ritter, MD, Senior Medical Director, Department of Clinical Research and Education, GI Alliance Research. "There is a significant unmet need for patients with moderate to severe ulcerative colitis, and I look forward to seeing the results of Arena's Phase 3 program."

    "We are pleased to initiate the ELEVATE UC 12 Phase 3 trial, the second of two pivotal trials that will bring us one step closer to our goal of delivering an oral, once-daily, durable therapeutic option for patients living with ulcerative colitis," stated Chris Cabell, MD, MHS, FACC, Executive Vice President, Head of Research and Development, and Chief Medical Officer at Arena. "This is a significant milestone for Arena as the progress confirms that the ELEVATE UC registrational program, including ELEVATE UC 12 and UC 52 trials, remains on track for data by year-end 2021."

    About ELEVATE UC 12

    ELEVATE UC 12 is one of two pivotal trials that are part of the ELEVATE UC global Phase 3 registrational program. ELEVATE UC 12 is a 2:1 randomized, double-blind, placebo-controlled trial to assess the efficacy and safety of etrasimod 2 mg once-daily in subjects with moderately to severely active ulcerative colitis (UC) defined as a baseline 3-domain, modified Mayo Score of 4 to 9 with an endoscopic score of 2 or more, and a rectal bleeding score of 1 or more. The primary objective of this trial is to assess the safety and efficacy of etrasimod on clinical remission at 12 weeks assessed by the FDA-required, 3-domain, modified Mayo Score, which is similar to the primary endpoint in the Phase 2 OASIS trial. Key secondary measures include the efficacy of etrasimod on clinical response, symptomatic response and remission, endoscopic changes, corticosteroid-free remission, and a total healing in these subjects. The ELEVATE UC program is being conducted in approximately 450 sites across more than 40 countries.

    About Etrasimod

    Etrasimod (APD334) is a next generation, once-daily, oral, highly selective sphingosine 1-phosphate (S1P) receptor modulator discovered by Arena, and designed for optimized pharmacology and engagement of S1P receptor 1, 4 and 5 which may lead to an improved efficacy and safety profile.

    Etrasimod provides systemic and local effects on specific immune cell types and has the potential to treat multiple immune-mediated inflammatory diseases, including ulcerative colitis, Crohn's disease, atopic dermatitis, and alopecia areata.   

    Etrasimod is an investigational compound that is not approved for any 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.

    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 may be identified by words such as "evaluating," "potential," "look forward to," "will," "goal," "on track to," and "may," and include, without limitation, statements about the following: the opportunity, development and potential of etrasimod, including regarding its design, its therapeutic potential in immune-mediated inflammatory diseases such as ulcerative colitis (UC), Crohn's disease, atopic dermatitis, and alopecia areata, its ability to  satisfy an unmet medical or clinical need, and its safety and efficacy; the ELEVATE UC program and ELEVATE UC 52 and ELEVATE UC 12 trials, including enrollment, study sites and trial design; the significance of the trials and their initiation; 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 patients in Arena's ongoing and intended clinical trials is competitive and challenging; the duration and severity of the coronavirus disease (COVID-19) pandemic, including but not limited to its impact on Arena's clinical trials and operations, the operations of Arena's suppliers, partners, collaborators, licensees, and the 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; risks and uncertainties relating to cash and revenues that may be generated from product sales or other sources, including the impact of competition; 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 June 30, 2020, which was filed with the SEC on August 5, 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 Media Contact: 

     

    858.453.7200 

    Arena Pharmaceuticals Logo

     

    Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/arena-pharmaceuticals-announces-first-subject-dosed-in-elevate-uc-12-global-phase-3-trial-evaluating-etrasimod-in-ulcerative-colitis-301131854.html

    SOURCE Arena Pharmaceuticals, Inc.

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  23. CannabisNewsWire Editorial Coverage: A recent Data Bridge Market Research report notes that the once-hot cannabis industry looks to be heating up again — in a big way. The report includes predictions that the global legal marijuana market will total more than $90 billion by 2027. Smart companies are jostling for a strong position in this explosive space, […]

    CannabisNewsWire Editorial Coverage: A recent Data Bridge Market Research report notes that the once-hot cannabis industry looks to be heating up again — in a big way. The report includes predictions that the global legal marijuana market will total more than $90 billion by 2027. Smart companies are jostling for a strong position in this explosive space, looking to leverage their expertise…

    CannabisNewsWire Editorial Coverage: A recent Data Bridge Market Research report notes that the once-hot cannabis industry looks to be heating up again — in a big way. The report includes predictions that the global legal marijuana market will total more than $90 billion by 2027. Smart companies are jostling for a strong position in this explosive space, […]

    CannabisNewsWire Editorial Coverage: A recent Data Bridge Market Research report notes that the once-hot cannabis industry looks to be heating up again — in a big way. The report includes predictions that the global legal marijuana market will total more than $90 billion by 2027. Smart companies are jostling for a strong position in this explosive space, looking to leverage their expertise to capitalize on opportunities the multi-billion-dollar sector provides. Recognizing key challenges in the industry, including availability of often subpar quality of available product along with the high cost of development and land acquisition, Pac Roots Cannabis Corp. (CSE:PACR) (PACR Profile) is focusing on its state-of-the-art genetics to ensure  production of premium-quality products. In addition, the company is relying on science and key strategic partnerships to eliminate quality and cost barriers to success. Cresco Labs Inc. (CSE:CL) (OTCQX:CRLBFhas received regulatory approval for its acquisition of one of 10 vertically integrated licenses in New York while Tilray Inc. (NASDAQ:TLRY) has received complete GMP certification at its EU campus. Aurora Cannabis Inc.  (NYSE:ACB) (TSX:ACB) has almost completed the first phase of a business transformation focused on setting up the company for success in this burgeoning space. And in the medical-use sector, Arena Pharmaceuticals Inc. (NASDAQ:ARNA) is pursuing a significant unmet opportunity for a targeted IBS pain treatment using olorinab, a peripherally acting, highly selective, full agonist of the cannabinoid receptor 2 (CB2).

    • Absolute access to one of Canada's largest live, genetic cannabis library provides PACR with more than 350 lab-tested, field-tested cultivars.
    • Superior flowers are key to producing superior cannabis products.
    • Pac Roots chooses best outdoor growing climates in Canada for its growing cultivation operations.

    Click here to view the custom infographic of the Pac Roots Cannabis Corp. (CSE:PACR) editorial.

    Delivering the Best

    While it may seem obvious, the availability of high-quality flowers is essential to the process of producing high-quality cannabis products. Yet as demand for cannabis products has increased and more companies have entered the flourishing space, the quality of raw cannabis product may actually be slipping as companies focus more on market share than quality.

    Pac Roots Cannabis Corp. (CSE:PACR) is committed to delivering the finest cannabis genetics to its customers, preserving the superiority of its carefully cultivated elite strains while also working to introduce unmatched new strains. While some companies may work to be the largest cannabis grower, Pac Roots believes that product quality is paramount. With demand for premium products at an all-time high, Pac Roots is dedicated to becoming a leader in the premium-cannabis space.

    The company achieves this objective in part through its strategic licensing agreement with Phenome One Corp, which gives Pac Roots complete access to one of Canada's largest live, genetic cannabis library with both field- and lab-tested, selectively bred cultivars. Pac Roots utilizes the cultivars in the Phenome One library to grow, breed and clone its own distinctive brands. Through vigilant breeding and cultivation, Pac Roots offers everything from CBD-dominant plants with rare terpene profiles and soaring 30%-plus THC giants to West Coast outdoor, botrytis-resistant plants.

    Pac Roots and Phenome One are developing exclusive strains with several beneficial characteristics. The impressive catalog consists of more than 350 tested cultivars; approximately 50 are in the super-elite category. The aim for the partnership is to offer the highest-quality cultivars that have been proven and tested under variable commercial conditions to provide the greatest resilience. The two companies share a dedication to delivering rich THC and CBD cultivars with unique terpene profiles while continuing to attain industry-leading GPW yield.

    Key to Quality Cannabis

    Superior genetics isn't the only key to cultivating quality cannabis. Optimized farming systems are crucial in the pursuit of quality product. Pac Roots works closely with carefully selected partners to improve cultivation through proprietary methods, including the following fundamental components:

    • Nutrients are custom formulated from raw salts for specific cultivars.
    • Systematic planting of young, hardy cultivars, measuring up to 18 inches, which provides maximum opportunity for growth and resilience.
    • Row compaction and mowing for weed control, enabling a selected harvest
    • Complex irrigation systems with direct-nutrient and spring-water delivery to each plant site.

    In addition to observing tested and refined cultivation methods, Pac Roots carefully selected its cultivation sites, focuses its operations on the finest outdoor growing climates in Canada, including the South Okanagan Valley and the Fraser Valley Regional District.

    Golden Mile Cultivation

    Known as the Golden Mile and now referred to as the Napa Valley of the North, the South Okanagan Valley in British Columbia is the location of Rock Creek Farms, a 100-acre, premium-hemp, joint venture that Pac Roots started in May 2020 after receiving its hemp cultivation license from Health Canada.

    Planting began in June when approximately 130,000 premium-hemp CBD seedlings, which had been sown earlier in greenhouses to ensure optimum growth and reduce environmental impact, were systematically planted across two 50-acre parcels. With harvesting projected to begin in October, the hemp plantation crop is expected to be between 500,000 and 700,00 pounds of biomass; 100% of that yield is already under contract with a processor at fair market value.

    "It has been a busy for months since listing on the CSE in early May 2020," said Pac Roots CEO Patrick Elliott. "We are proud to have a healthy crop and remain bullish on delivering a premium, high-yielding product to our customer. In early 2020, we had a goal of becoming a revenue generator in 2020 as market appetite was evolving towards a cash flow scenario and realizing on projected forecasts as paramount to survival in this industry. We are privileged to be involved with our strategic partners at Rock Creeks Farms, Phenome One and Speakeasy Cannabis Club as a production scenario in our first year of operation would not have been possible without the generous leasing of land, equipment, licenses, infrastructure, genetics, operations team, management and expertise to round off the joint venture."

    Fraser Valley Production

    In addition, the company is slated to soon complete a share purchase agreement of 250 acres of prestigious land in the Fraser Valley Regional District (FVRD) of British Columbia. The agreement, made with 1088070 BC. Ltd. outlines Pac Roots' plans to acquire all of the issued and outstanding shares of 1088, which owned nine parcels of pristine property in FVRD, one of the most productive and intensively farmed areas in Canada. The area offers the finest soil, a favorable climate, ample water and a local market of an estimated 2.5 million people. Agriculture in this region yields an annual economic value of more than $3 billion.

    "The addition of such a substantial package of land to our portfolio is a major step for Pac Roots," said Elliott. "We are pleased to have the opportunity to add significant acreage with an acquisitional cost base of $9,600 per acre. This land has no zoning restrictions and is not situated within the Agricultural land reserve, which provides for infinite development possibilities."

    The acquisition of the 250 FVRD acres combined with the 100-acre hemp joint venture in Rock Creek, along with the company's plans for an indoor cultivation facility in Lake Country, British Columbia, demonstrates a long pipeline of development projects for Pac Roots. Through these recent achievements, the growing company is confirming its ability to optimize cultivation with seasoned expertise. Its commitment to maximizing yield while lowering production costs seems evident throughout Pac Roots' strategic growth plan.

    With demand for superior cannabis products only expected to increase as large-scale growers appear incapable of delivering a premium-grade flower, Pac Roots looks to have firmly established its focus on offering the best crops available and developing the future of genetics. "Preserving the excellence of our elite strains while introducing the highest quality of new strains to the public is our passion," the company's website declares, and its recent activity in the cannabis market looks to support that mission.

    Becoming Cannabis Players

    While Pac Roots is distinctive in its approach and commitment to quality, it isn't the only company vying for market share in the flourishing cannabis sector.

    Cresco Labs Inc. (CSE:CL) (OTCQX:CRLBFannounced that it has received regulatory approval for its acquisition of 100% of the membership interests of Gloucester Street Capital, the parent entity of Valley Agriceuticals LLC, via a merger between Gloucester and an indirect subsidiary of Cresco Labs. Valley Agriceuticals holds one of the 10 vertically integrated cannabis business licenses granted in the State of New York by the New York State Department of Health. Each license gives the operator the right to operate one cultivation facility and four dispensaries in New York. The acquisition is expected to close by the end of August.

    Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB) recently released an update on its business operations, including the announcement of a new CEO, Miguel Martin. "Over the last six months, Aurora has focused on building the infrastructure and capabilities necessary for a successful and diversified business," said Aurora executive chairman and interim CEO Michael Singer. "The first phase of our business transformation, which is now substantially complete, included the rationalization of our cost structure, reduced capital spending, and a more prudent and targeted approach to capital deployment. As a result, we now have a far more efficient asset base and infrastructure to supply our key global markets. I am delighted to now be transitioning the CEO responsibilities to Miguel, and I am confident that Aurora is in a strong position to succeed under Miguel's leadership."

    Tilray Inc.'s (NASDAQ:TLRY) wholly owned subsidiary Tilray Portugal Unipessoal Lda. has received a Good Manufacturing Practice (GMP) certification in accordance with European Union standards, for its manufacturing facility in Cantanhede, Portugal. The certification expands the company's international export capacity to serve authorized medical cannabis markets and  provides authorization to complete medical cannabis extraction on-site as well as produce bulk extracts for the manufacture of medical cannabis oil as a finished product. The certification signals another milestone for Tilray's EU campus, which serves as the company's  international medical cannabis hub.

    Another player in the medical space is Arena Pharmaceuticals Inc. (NASDAQ:ARNA). The company has recognized a significant unmet opportunity for a targeted IBS pain treatment and is involved in a Phase 2, placebo-controlled, parallel-group study to evaluate the safety, tolerability, and efficacy of olorinab in patients with irritable bowel syndrome who are experiencing abdominal pain.

    In an industry anticipated to top $90 billion by 2027, strategic steps taken by companies operating in the cannabis space appear to reinforce the sector's promising future. Companies that focus on high-quality products through genetics while controlling costs could reap outsized market rewards  as the sector continues to grow and mature.

    For more information about Pac Roots, please visit Pac Roots Cannabis Corp. (CSE:PACR).

    About CannabisNewsWire

    CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today's market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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  24. SAN DIEGO, Sept. 3, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that that members of its senior management team will participate in the upcoming investor conferences:

    • Wells Fargo Virtual Healthcare Conference – Presenting on Wednesday, September 9, at 1:20 PM ET
    • Citi 2020 BioPharma Virtual Conference – Hosting investor meetings on Thursday, September 10
    • H.C. Wainwright Virtual Global Investment Conference – Presenting on Monday, September 14, at 9:30 AM ET
    • Cantor Virtual Global Healthcare Conference – Presenting on Wednesday, September 16, at 2:00 PM ET

    A live audio webcast of the available presentations will be posted under the investor relations section of Arena's website at www.arenapharm.com. A replay of…

    SAN DIEGO, Sept. 3, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that that members of its senior management team will participate in the upcoming investor conferences:

    • Wells Fargo Virtual Healthcare Conference – Presenting on Wednesday, September 9, at 1:20 PM ET
    • Citi 2020 BioPharma Virtual Conference – Hosting investor meetings on Thursday, September 10
    • H.C. Wainwright Virtual Global Investment Conference – Presenting on Monday, September 14, at 9:30 AM ET
    • Cantor Virtual Global Healthcare Conference – Presenting on Wednesday, September 16, at 2:00 PM ET

    A live audio webcast of the available presentations will be posted under the investor relations section of Arena's website at www.arenapharm.com. A replay of the presentations will be available for 30 days following each event.

    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 participation in upcoming investor conferences 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 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-to-participate-in-upcoming-investor-conferences-301124167.html

    SOURCE Arena Pharmaceuticals, Inc.

    View Full Article Hide Full Article
  25. SAN DIEGO, Sept. 1, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that the first subject has been dosed in a Phase 2 trial evaluating etrasimod, an investigational, next-generation, once-daily, oral, selective sphingosine 1-phosphate (S1P) receptor modulator, for the potential treatment of moderate-to-severe alopecia areata. The randomized, placebo-controlled trial will evaluate the efficacy and safety of etrasimod 2 mg for 24 weeks in 36 subjects in sites across the United States and Canada.

    "It is exciting to see the clinical advancement of an oral agent with a novel mechanism of action for the potential treatment of alopecia areata," stated Brett King, MD, PhD, Associate Professor of Dermatology, Yale School

    SAN DIEGO, Sept. 1, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that the first subject has been dosed in a Phase 2 trial evaluating etrasimod, an investigational, next-generation, once-daily, oral, selective sphingosine 1-phosphate (S1P) receptor modulator, for the potential treatment of moderate-to-severe alopecia areata. The randomized, placebo-controlled trial will evaluate the efficacy and safety of etrasimod 2 mg for 24 weeks in 36 subjects in sites across the United States and Canada.

    "It is exciting to see the clinical advancement of an oral agent with a novel mechanism of action for the potential treatment of alopecia areata," stated Brett King, MD, PhD, Associate Professor of Dermatology, Yale School of Medicine. "With no currently FDA-approved treatment options there is a significant unmet medical need in alopecia areata. I see patients suffer tremendous emotional and psychosocial distress and reduced quality of life as a result of this disease. I look forward to seeing the progress of Arena's Phase 2 program and the development of etrasimod."

    "Dosing the first patient in our Phase 2 alopecia areata trial is a great accomplishment for the team, furthering our expansion into dermatology," stated Chris Cabell, MD, MHS, FACC, Executive Vice President, Head of Research and Development, and Chief Medical Officer at Arena. "To date, we have seen preclinical and scientific validation supporting the rationale for moving etrasimod into alopecia areata and other dermatologic conditions. Etrasimod has demonstrated the potential to reduce circulating CD4+ and CD8+ T-lymphocytes. In alopecia areata, this may reduce the T cells available to infiltrate the hair follicle, which may decrease inflammation and restore hair growth. We expect the availability of Phase 2 data in 2021."

    This Phase 2 multicenter, randomized, placebo-controlled trial will assess the safety and efficacy of once-daily etrasimod 2 mg in subjects with moderate-to-severe alopecia areata. The primary endpoint is percent change in Severity of Alopecia Tool (SALT) score from baseline to week 24. The trial will enroll 36 subjects and will be conducted in study sites across the United States and Canada.

    About Alopecia Areata

    Alopecia areata, or AA, is a T-cell-mediated autoimmune skin disorder with unmet medical need that causes non-scarring patchy hair loss, most often on the scalp. Mild disease typically presents as one or more round or oval bald patches on the scalp. In moderate-to-severe disease, extensive and chronic hair loss occurs, with the most severe forms involving hair loss on the entire scalp (alopecia totalis) or body (alopecia universalis). Patients with persistent moderate-to-severe AA also often suffer emotional and psychosocial distress and reduced quality of life as a result of their hair loss.

    About Etrasimod

    Etrasimod (APD334) is a next generation, once-daily, oral, highly selective sphingosine 1-phosphate (S1P) receptor modulator discovered by Arena, and designed for optimized pharmacology and engagement of S1P receptor 1, 4 and 5 which may lead to an improved efficacy and safety profile.

    Etrasimod provides systemic and local effects on specific immune cell types and has the potential to treat multiple immune-mediated inflammatory diseases, including ulcerative colitis, Crohn's disease, atopic dermatitis and alopecia areata.

    Etrasimod is an investigational compound that is not approved for any 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.

    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 may be identified by words such as "evaluating," "potential," "will," "look forward to," "expect," and "may," and include, without limitation, statements about the following: the opportunity, development and potential of etrasimod, including regarding its design, its safety and efficacy, its therapeutic potential in immune-mediated inflammatory diseases such as ulcerative colitis, Crohn's disease, atopic dermatitis, and alopecia areata, and its ability to reduce patients' distress, improve lives, and satisfy an unmet medical or clinical need; the Phase 2 trial, including enrollment, study sites, trial design, and timing of Phase 2 data; the significance of the trial and its initiation; 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 patients in Arena's ongoing and intended clinical trials is competitive and challenging; the duration and severity of the coronavirus disease (COVID-19) pandemic, including but not limited to its impact on Arena's clinical trials and operations, the operations of Arena's suppliers, partners, collaborators, licensees, and the 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; risks and uncertainties relating to cash and revenues that may be generated from product sales or other sources, including the impact of competition; 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 June 30, 2020, which was filed with the SEC on August 5, 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 Media Contact: 

     

    858.453.7200 

    Arena Pharmaceuticals Logo

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    SOURCE Arena Pharmaceuticals, Inc.

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  26. SAN DIEGO, Aug. 19, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that on August 15, 2020, the Compensation Committee of its Board of Directors granted to five new employees inducement stock options to purchase an aggregate of 15,275 shares of its common stock and 3,440 inducement restricted stock units ("RSUs"). The inducement stock options and RSUs have a grant date and vesting commencement date of August 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 $63.59 per share, the closing price…

    SAN DIEGO, Aug. 19, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that on August 15, 2020, the Compensation Committee of its Board of Directors granted to five new employees inducement stock options to purchase an aggregate of 15,275 shares of its common stock and 3,440 inducement restricted stock units ("RSUs"). The inducement stock options and RSUs have a grant date and vesting commencement date of August 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 $63.59 per share, the closing price of Arena's common stock on the last trading date 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 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.

    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-5635c4-301115116.html

    SOURCE Arena Pharmaceuticals, Inc.

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  27. SAN DIEGO, Aug. 5, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today provided a corporate update and reported financial results for the second quarter ended June 30, 2020.

    "Over the quarter, we delivered positive Phase 1 data from the etrasimod controlled-release program, fully enrolled the Phase 2b ADVISE trial in atopic dermatitis – meeting the high-end of our enrollment range and allowing for the availability of data in 2020 as guided, and completed a capital raise to further strengthen our balance sheet," said Amit D. Munshi, President and CEO of Arena. "I am extremely proud of the resiliency and tenacity that our team has demonstrated during the past several months as they overcame challenges that our industry is facing…

    SAN DIEGO, Aug. 5, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today provided a corporate update and reported financial results for the second quarter ended June 30, 2020.

    "Over the quarter, we delivered positive Phase 1 data from the etrasimod controlled-release program, fully enrolled the Phase 2b ADVISE trial in atopic dermatitis – meeting the high-end of our enrollment range and allowing for the availability of data in 2020 as guided, and completed a capital raise to further strengthen our balance sheet," said Amit D. Munshi, President and CEO of Arena. "I am extremely proud of the resiliency and tenacity that our team has demonstrated during the past several months as they overcame challenges that our industry is facing as a result of the global COVID-19 pandemic. Our team has adapted quickly and focused on execution in order to achieve key milestones for the company, and I want to acknowledge the hard work that went on across the organization. As a leadership team, we are consistently evaluating the impact of the pandemic and assessing the appropriate level of action needed as circumstances evolve."

    Program Update

    • Etrasimod atopic dermatitis (AD) ADVISE Phase 2b trial enrollment completed; topline data expected Q4 2020
    • Etrasimod ELEVATE UC 52 Phase 3 trial in ulcerative colitis (UC) ongoing and on track; ELEVATE UC 12 Phase 3 trial expected to initiate in H2 2020; topline data for both trials expected by year end 2021
    • Etrasimod CULTIVATE Phase 2b dose-ranging trial in Crohn's disease (CD) initiated and ongoing; confirming plans to help facilitate availability of topline data in 2021; continue to suspend overall program guidance based on expected COVID-19 impact
    • Etrasimod eosinophilic esophagitis (EoE) Phase 2b and alopecia areata (AA) Phase 2 planning ongoing; initiation in 2020 dependent on COVID-19 situation in Q3/4
    • Olorinab CAPTIVATE Phase 2b trial in abdominal pain associated with irritable bowel syndrome (IBS-C, IBS-D) ongoing; experiencing some COVID-19 related impact on trial enrollment; topline data expected Q1 2021
    • APD418 in acute heart failure (AHF) with Fast Track designation; Phase 1 trial has resumed; topline data expected Q4 2020

    Financial Update

    Second Quarter 2020 Financial Results

    • Revenues for the second quarter were zero compared to $1.0 million in the second quarter of 2019
    • Research and development (R&D) expenses for the second quarter totaled $64.9 million compared to $51.2 million in the same period 2019. This increase was primarily driven by our advancing clinical studies, including the etrasimod Phase 3 program, as well as an increase in personnel expenses as we staff to support our clinical programs. The R&D non-cash share-based compensation was $6.3 million in the second quarter as compared to $7.0 million in the same period 2019
    • General and administrative (G&A) expenses for the second quarter totaled $22.9 million, compared to $18.4 million in the second quarter of 2019. This increase is primarily attributed to personnel expenses. The G&A non-cash share-based compensation was $6.0 million in the second quarter as compared to $6.4 million in the same period 2019
    • Net loss for the second quarter was $84.9 million compared to net loss of $61.4 million for the same period in 2019
    • Basic and diluted net loss per share for the second quarter was $1.61 compared to basic and diluted net loss per share of $1.24 for the same period in 2019
    • Cash, cash equivalents and marketable securities were $1.3 billion at June 30, 2020, including $301.8 million in net proceeds received from the sale of approximately 6.3 million shares of common stock under an equity financing, as compared to $1.0 billion at March 31, 2020

    Financial Outlook for 2020

    Arena's 2020 financial guidance range:

    • No change from the previous guidance, cash used in operating activities for the full-year 2020 is expected to be $400 million to $430 million

    Conference Call & Webcast Information

    Arena will host a live and webcast question and answer session via conference call with the investment community today, Wednesday, August 5, 2020, at 4:30 PM ET, to discuss the financial results and corporate update.

    When: Wednesday, August 5, 2020, at 4:30 PM ET

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

    Conference ID: 5343486

    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 APD418 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 "expected," "ensure," "begin to," "will," "long-term," "outlook," "guidance," "uniquely positioned to," and "drive to" and include, without limitation, statements about the following: Arena's clinical programs, including clinical study site activations, enrollment of study subjects, patient safety, study momentum, drug supply, timing of data readouts, and potential future updates on Arena's clinical programs; Arena's financial outlook and guidance, including expectations regarding cash to be used in operating activities and the rate of change thereof; Arena's planned conference call and webcast with the investment community; the potential of Arena's drug candidates, including to be best-in-disease or transformational, have optimized efficacy and safety, satisfy unmet patient needs, and be delivered to patients globally; and 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, 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 patients in Arena's ongoing and intended clinical trials is competitive and challenging; the duration and severity of the recent coronavirus disease (COVID-19) outbreak, 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 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 Annual Report on Form 10-K for the year ended December 31, 2019, which was filed with the SEC on February 27, 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 Media Contact:  



    858.453.7200

    (Tables Follow)

     

    Arena Pharmaceuticals, Inc.

    Condensed Consolidated Statements of Operations

    (In thousands, except per share amounts)







    Three months ended





    Six months ended







    June 30,





    June 30,







    2020





    2019





    2020





    2019







    (unaudited)





    (unaudited)



    Revenues

































    United Therapeutics revenue



    $





    $





    $





    $

    800,000



    Royalty revenue











    941







    262







    1,914



    Collaboration and other revenue











    81













    165



    Total revenues











    1,022







    262







    802,079





































    Operating Costs & Expenses

































    Research & development





    64,946







    51,211







    143,479







    96,607



    General & administrative





    22,877







    18,367







    49,319







    34,945



    Transaction costs























    14,573



    Total operating costs & expenses





    87,823







    69,578







    192,798







    146,125



    Income (loss) from operations





    (87,823)







    (68,556)







    (192,536)







    655,954





































    Total interest & other income (expense), net





    2,895







    7,153







    7,401







    13,110



    Income (loss) before income taxes





    (84,928)







    (61,403)







    (185,135)







    669,064



    Income tax provision























    (110,333)



    Net income (loss)



    $

    (84,928)





    $

    (61,403)





    $

    (185,135)





    $

    558,731





































    Net income (loss) per share, basic:



    $

    (1.61)





    $

    (1.24)





    $

    (3.59)





    $

    11.27



    Net income (loss) per share, diluted:



    $

    (1.61)





    $

    (1.24)





    $

    (3.59)





    $

    10.86





































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





    52,771







    49,653







    51.500







    49,566



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

         diluted:





    52,771







    49,653







    51,500







    51,459



     

    Arena Pharmaceuticals, Inc.

    Condensed Consolidated Balance Sheet Data

    (In thousands)

    (Unaudited)







    June 30, 2020





    December 31, 2019















    1



    Assets

















    Cash & cash equivalents



    $

    550.176





    $

    243,274



    Prepaid expenses & other current assets





    33,296







    20,369



    Total available-for-sale investments





    715,296







    867,229



    Land, property & equipment, net





    23,769







    25,128



    Other non-current assets





    17,213







    18,123



    Total assets



    $

    1,339,750





    $

    1,174,123





















    Liabilities & Stockholders' Equity

















    Accounts payable & accrued liabilities



    $

    37,771





    $

    41,153



    Total lease financing obligations & other long-term liabilities





    59,342







    61,505



    Total stockholders' equity





    1,242,637







    1,071,465



    Total liabilities & stockholders' equity



    $

    1,339,750





    $

    1,174,123





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

     

    Arena Pharmaceuticals Logo

     

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    SOURCE Arena Pharmaceuticals, Inc.

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  28. SAN DIEGO, July 29, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) will release its second quarter 2020 financial results and provide a corporate update on Wednesday, August 5, 2020, 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: Wednesday, August 5, 2020, at 4:30 PM ET
    Dial-in: (877) 643-7155 (United States) or (914) 495-8552 (International)
    Conference ID: 5343486

    Please join the conference call at least 15 minutes early to register. You can access the live webcast under the investor relations section of Arena's website. A replay of the…

    SAN DIEGO, July 29, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) will release its second quarter 2020 financial results and provide a corporate update on Wednesday, August 5, 2020, 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: Wednesday, August 5, 2020, at 4:30 PM ET

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

    Conference ID: 5343486

    Please join the conference call at least 15 minutes early to register. You can access the live webcast under the investor relations section of Arena's website. A replay of the event 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.

    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-to-release-second-quarter-2020-financial-results-and-provide-corporate-update-on-august-5-301102504.html

    SOURCE Arena Pharmaceuticals, Inc.

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  29. SAN DIEGO, July 17, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that on July 15, 2020, the Compensation Committee of its Board of Directors granted to six new employees inducement stock options to purchase an aggregate of 35,850 shares of its common stock and 6,310 inducement restricted stock units ("RSUs"). The inducement stock options and RSUs have a grant date and vesting commencement date of July 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 $67.50 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 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.

    Corporate Contact:

    Megan E. Knight

    Arena Pharmaceuticals, Inc.

    Director, Investor Relations 

     

    858.210.3635

    Arena Media Contact: 

     

    858.453.7200 

     

    Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/arena-pharmaceuticals-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-301095608.html

    SOURCE Arena Pharmaceuticals, Inc.

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  30. 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

     

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    SOURCE Arena Pharmaceuticals, Inc.

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  31. 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

     

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  32. 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

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  33. 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

       

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    SOURCE Arena Pharmaceuticals, Inc.

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  34. 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

     

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  35. SAN DIEGO, May 27, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that it intends to offer and sell, in an underwritten public offering and subject to market and other conditions, $250,000,000 of its common stock. All of the shares are being offered by Arena. In addition, Arena intends to grant the underwriters of the offering a 30-day option to purchase up to an additional 15% of the shares of its common stock offered in the public offering. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

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

    SAN DIEGO, May 27, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that it intends to offer and sell, in an underwritten public offering and subject to market and other conditions, $250,000,000 of its common stock. All of the shares are being offered by Arena. In addition, Arena intends to grant the underwriters of the offering a 30-day option to purchase up to an additional 15% of the shares of its common stock offered in the public offering. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

    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 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 preliminary prospectus supplement and the accompanying prospectus related to this 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, 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 and granting the underwriters a 30-day option to purchase additional shares. 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

     

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  36. SAN DIEGO, May 26, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that it has completed full enrollment of the Phase 2b ADVISE trial evaluating etrasimod, an investigational next-generation, once-daily, oral, highly selective sphingosine 1-phosphate (S1P) receptor modulator, for the potential treatment of moderate-to-severe atopic dermatitis. The trial enrolled 140 patients at study sites across the United States, Canada and Australia, with a primary efficacy endpoint of percent change in Eczema Area and Severity Index (EASI) from baseline to week 12.

    "Completing enrollment of the ADVISE trial is a significant milestone for Arena, and we are extremely proud that the team was able to meet the high end of our targeted…

    SAN DIEGO, May 26, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that it has completed full enrollment of the Phase 2b ADVISE trial evaluating etrasimod, an investigational next-generation, once-daily, oral, highly selective sphingosine 1-phosphate (S1P) receptor modulator, for the potential treatment of moderate-to-severe atopic dermatitis. The trial enrolled 140 patients at study sites across the United States, Canada and Australia, with a primary efficacy endpoint of percent change in Eczema Area and Severity Index (EASI) from baseline to week 12.

    "Completing enrollment of the ADVISE trial is a significant milestone for Arena, and we are extremely proud that the team was able to meet the high end of our targeted enrollment range, particularly during these challenging times that our industry and society are facing," said Preston Klassen, M.D., M.H.S, Executive Vice President, Head of Research and Development of Arena.  "Based on the potential best-in-class intrinsic properties of etrasimod, and clinical and non-clinical evidence seen to date, we are committed to driving its development in dermatologic conditions. We believe we have the potential to address the need for a safe and effective oral option for patients living with atopic dermatitis. We look forward to continuing with the execution of this Phase 2b trial and the expected availability of topline data by year end."

    "We are very pleased that we have completed enrollment of our ADVISE trial and that to date we have kept timelines on track for our global Phase 3 program, ELEVATE UC.  On other programs, we continue to see levels of disruption due to the COVID-19 pandemic; therefore, we are withdrawing our prior guidance on newly initiated trials and certain trials in the planning phase, including the evaluation of etrasimod in Crohn's disease, eosinophilic esophagitis, or EoE, and alopecia areata, or AA.  We are hopeful that we can initiate both the EoE and AA studies this year and we are considering options for the Crohn's disease program to obtain Phase 2 dose-ranging data in 2021. Since the start of COVID-19, Arena has been vigilant and proactive in dealing with operational complexities due to the impact of this global pandemic," stated Amit D. Munshi, President and Chief Executive Officer of Arena. "Above all else, we will prioritize patient and employee safety.  We intend to provide periodic updates as we gain additional clarity."  

    Program Updates:

    • Etrasimod atopic dermatitis (AD) ADVISE Phase 2b trial enrollment completed; topline data expected Q4 2020
    • Etrasimod ELEVATE UC 52 Phase 3 trial in ulcerative colitis (UC) ongoing and on track; ELEVATE UC 12 Phase 3 trial expected to initiate in H2 2020; topline data for both trials expected by year end 2021
    • Etrasimod CULTIVATE Phase 2b dose-ranging trial in Crohn's disease (CD) initiated and ongoing; considering options to help facilitate availability of topline data in 2021; withdrawing previously announced overall program guidance based on expected COVID-19 impact on trial execution including site activation and enrollment 
    • Etrasimod eosinophilic esophagitis (EoE) Phase 2b and alopecia areata (AA) Phase 2 planning ongoing; initiation in 2020 dependent on COVID-19 situation in Q3/4
    • Olorinab CAPTIVATE Phase 2b trial in abdominal pain associated with irritable bowel syndrome (IBS-C, IBS-D) ongoing; experiencing some COVID-19 related impact on trial enrollment; topline data expected between Q4 2020 and Q1 2021
    • APD418 in acute heart failure (AHF) with Fast Track designation; Phase 1 trial experiencing COVID-19 related impact with trial temporarily paused; topline data expected Q4 2020

    Etrasimod, olorinab, and APD418 are investigational compounds, not approved for any use in any country.

    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. Such forward-looking statements may be identified by words such as "expected," "will," "intend," "potential," "guidance," and include, without limitation, statements about the following: Arena's clinical programs, including clinical study site activations, enrollment of study subjects, patient safety, study momentum, drug supply, timing of data readouts, and potential future updates on Arena's clinical programs; Arena's ability to provide a safe and effective oral option for patients living with atopic dermatitis; and the potential of Arena's drug candidates, including potential best-in-class intrinsic properties. 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 patients in Arena's ongoing and intended clinical trials is competitive and challenging; the duration and severity of the recent 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 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 March 31, 2020, which was filed with the SEC on May 7, 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 Media Contact:

    858.453.7200

    Arena Pharmaceuticals Logo

     

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    SOURCE Arena Pharmaceuticals, Inc.

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  37. SAN DIEGO, May 22, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that, due to public health and safety concerns related to the COVID-19 global pandemic, recommendations and orders from federal, state and local authorities, and to support the health and well-being of its stockholders, employees and others, Arena is changing its 2020 Annual Meeting of Stockholders (the "Annual Meeting") to a virtual-only format that will be held via live audio webcast. The virtual Annual Meeting is expected to provide stockholders with the same rights and opportunities to participate as they would have at an in-person meeting.

    The previously announced date and time of the meeting, June 12, 2020 at 9:00AM (Pacific Time), will…

    SAN DIEGO, May 22, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that, due to public health and safety concerns related to the COVID-19 global pandemic, recommendations and orders from federal, state and local authorities, and to support the health and well-being of its stockholders, employees and others, Arena is changing its 2020 Annual Meeting of Stockholders (the "Annual Meeting") to a virtual-only format that will be held via live audio webcast. The virtual Annual Meeting is expected to provide stockholders with the same rights and opportunities to participate as they would have at an in-person meeting.

    The previously announced date and time of the meeting, June 12, 2020 at 9:00AM (Pacific Time), will not change. Online access to the Annual Meeting will begin at 8:45AM Pacific Time.  Stockholders will not be able to attend the Annual Meeting in person. 

    Attending the Virtual Meeting as a Stockholder of Record 
    Arena's stockholders of record as of April 20, 2020 (the "Record Date") can attend the Annual Meeting by accessing the meeting center at www.virtualshareholdermeeting.com/ARNA2020 and entering the 16-digit control number on the proxy card or Notice of Internet Availability of Proxy Materials previously received. Instructions on how to connect to the Annual Meeting and participate via the Internet, including how to demonstrate proof of stock ownership, and voting instructions, can be found at www.virtualshareholdermeeting.com/ARNA2020.

    Attending the Annual Meeting as a Beneficial Owner  
    Arena has been advised by Broadridge that beneficial stockholders as of the Record Date (i.e. shares held in "street name" through an intermediary, such as a bank or broker), who want to be able attend the Annual Meeting can attend using the 16-digit control number found on the notice and instructions received from their broker or other nominee. 

    Attending the Annual Meeting as a Guest  
    Guests may participate in a listen-only mode. No control number is required.

    Stockholders who do not have their 16-digit control number will be able to access and listen to the Annual Meeting as Guests but will not be able to vote their shares or submit questions during the Annual Meeting.

    Voting Shares 
    Stockholders of record and beneficial owners will be able to vote their shares electronically during the Annual Meeting by using the 16-digit control number. Instructions on how to vote while participating in the Annual Meeting live via the Internet are posted at www.virtualshareholdermeeting.com/ARNA2020.

    Whether or not stockholders plan to virtually attend the Annual Meeting, Arena urges them to vote and submit their proxy in advance of the Annual Meeting by one of the methods described in the proxy materials for the Annual Meeting. 
    The proxy materials, including the proxy card and Notice of Internet Availability of Proxy Materials, previously distributed along with the definitive proxy statement will not be updated to reflect the virtual-only format of the Annual Meeting.

    List of Stockholders 
    A list of stockholders entitled to vote at the Annual Meeting will be available for examination for any purpose germane to the Annual Meeting during normal business hours for ten days prior to the Annual Meeting at Arena's corporate headquarters. Due to limited staffing and additional health and safety protocols at Arena's corporate headquarters during the COVID-19 pandemic, stockholders seeking to examine the stockholder list are encouraged to call Arena's Investor Relations team at 858.453.7200 to make arrangements. The stockholder list and instructions will also be available during the Annual Meeting at www.virtualshareholdermeeting.com/ARNA2020.

    About Arena Pharmaceuticals 
    Arena Pharmaceuticals is uniquely positioned to develop best-in-disease medicines with optimized efficacy and safety for patients globally. Our drive to deliver a robust pipeline of novel, transformational medicines is grounded in two decades of world class G-protein-coupled receptor (GPCR) discovery research.

    It is the breadth and depth of our portfolio, prioritization of drug development to meet unmet patient needs, strong financial health and growing, bold-thinking world-class team that gives Arena the ingredients and passion to build a sustainable, vibrant next generation pharmaceutical company.

    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

     

     

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  38. SAN DIEGO, May 20, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that on May 15, 2020, the Compensation Committee of its Board of Directors granted inducement stock options to purchase an aggregate of 113,175 shares of its common stock to 13 new employees and 16,510 inducement restricted stock units ("RSUs") to ten new employees. The inducement stock options and RSUs have a grant date and vesting commencement date of May 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 $47.26 per share, the…

    SAN DIEGO, May 20, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that on May 15, 2020, the Compensation Committee of its Board of Directors granted inducement stock options to purchase an aggregate of 113,175 shares of its common stock to 13 new employees and 16,510 inducement restricted stock units ("RSUs") to ten new employees. The inducement stock options and RSUs have a grant date and vesting commencement date of May 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 $47.26 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 Amended and Restated 2017 Long-Term Incentive Plan.

    About Arena Pharmaceuticals
    Arena Pharmaceuticals is uniquely positioned to develop best-in-disease medicines with optimized efficacy and safety for patients globally. Our drive to deliver a robust pipeline of novel, transformational medicines is grounded in two decades of world-class G protein-coupled receptor (GPCR) discovery research.

    It is the breadth and depth of our portfolio, prioritization of drug development to meet unmet patient needs, strong financial health and growing, bold-thinking world-class team that gives Arena the ingredients and passion to build a sustainable, vibrant next-generation pharmaceutical company.

    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

     

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    • Appoints Amit Munshi as Chair, deeply experienced industry executive, CEO of Arena Pharmaceuticals
    • Succeeds Magnus Persson, who oversaw period of rapid growth and success for Galecto
    • Appoints David Shapiro MD, former CMO of Intercept Pharmaceuticals, to Board of Directors             

    BOSTON and COPENHAGEN, Denmark, May 19, 2020 (GLOBE NEWSWIRE) -- Galecto, Inc., a privately-held biotechnology company focused on the development of novel treatments for fibrosis and cancer, announced today that its Board of Directors has appointed Amit Munshi as its new Chairman. Galecto also announced the appointment of David Shapiro MD, the former Chief Medical Officer of Intercept Pharmaceuticals, to its Board of Directors.

    Amit Munshi has 30 years of international…

    • Appoints Amit Munshi as Chair, deeply experienced industry executive, CEO of Arena Pharmaceuticals
    • Succeeds Magnus Persson, who oversaw period of rapid growth and success for Galecto
    • Appoints David Shapiro MD, former CMO of Intercept Pharmaceuticals, to Board of Directors             

    BOSTON and COPENHAGEN, Denmark, May 19, 2020 (GLOBE NEWSWIRE) -- Galecto, Inc., a privately-held biotechnology company focused on the development of novel treatments for fibrosis and cancer, announced today that its Board of Directors has appointed Amit Munshi as its new Chairman. Galecto also announced the appointment of David Shapiro MD, the former Chief Medical Officer of Intercept Pharmaceuticals, to its Board of Directors.

    Amit Munshi has 30 years of international experience in private and public companies in biotechnology, pharmaceuticals and medical technologies. He is currently Chief Executive Officer of San Diego-based Arena Pharmaceuticals (NASDAQ:ARNA) and replaces Magnus Persson, who will continue to be available to Galecto as an adviser and a board observer.

    "We are delighted to welcome Amit and David to Galecto. Amit has demonstrated outstanding leadership skills and ability to commercialize medicines, grow businesses and deliver impressive returns to investors over 30 years in the healthcare industry. David's long and successful medical experience, particularly in the development of fibrosis treatments, will be an important source of advice and guidance to further advance and expand our pipeline. Together, their experience will prove invaluable as Galecto continues to pursue its ambitious targets, including moving the promising galectin-3 inhibitor GB0139 towards market for treating idiopathic pulmonary fibrosis and further developing our exciting pipeline in fibrosis and cancer," said Hans Schambye, CEO of Galecto.

    "I would like to extend my gratitude to Magnus Persson for his service over the last six years. During this period, Magnus was instrumental for extensive growth and success and he leaves Galecto in an extremely strong position thanks to his skill and dedication. We look forward to continuing to benefit from Magnus's support in his new role as an adviser, and wish him all the best for the future."

    During his career, Amit Munshi has built up extensive expertise in most areas of drug development and commercialization, including general management, IPOs, marketing, global fundraising, portfolio development, corporate partnerships and mergers and acquisitions. He has been CEO of Arena Pharmaceuticals since 2016. In this role he has overseen progress in more than 30 clinical trials, raised more than $600 million in equity financing and drove the company's market capitalization from $300 million to $2.6 billion. Prior to Arena, Amit Munshi was CEO of EPIRUS Biopharmaceuticals, where he oversaw the company's first market launch and completed a merger to list on NASDAQ.

    He has also served a number of other healthcare companies in senior executive roles, including Amgen and Astra Merck.

    Dr Shapiro was CMO and Head of Research and Development at Intercept Pharmaceuticals from 2007 until 2019. In this role, Dr Shapiro led the obeticholic acid development programs that resulted in the first approval of a treatment for primary biliary cholangitis (PBC) for some 20 years and the program in Non-Alcoholic SteatoHepatitis (NASH) that resulted in the first positive Phase 3 trial in this disease. Previously, Dr Shapiro was CMO of Idun Pharmaceuticals, which was acquired by Pfizer, President of the Scripps Medical Research Center of Scripps Clinic and he also led Merck's highly competitive hypertension clinical research program.

    About Galecto
    Galecto is a clinical stage biotechnology company with advanced programs in fibrosis and cancer centered on galectin-3 and LOXL2. The company's pipeline includes an inhaled galectin-3 modulator currently in phase 2b for the potential treatment of idiopathic pulmonary fibrosis, as well as two assets about to move into phase 2a targeting NASH and myelofibrosis. The company is incorporated in the U.S. and has its operating headquarters in Copenhagen, Denmark. Galecto is funded by Novo Holdings, OrbiMed, Ysios, HBM Healthcare Investments, Sunstone Capital, M Ventures, Bristol-Myers Squibb, Maverick Ventures, Seventure and SEED Capital.

    Further information can be found at www.galecto.com.

    For more information, contact:

    Galecto Inc. LifeSci Advisors (media)
    Hans Schambye, CEO Hans Herklots
    +45 26 3737 26 +41 79 598 7149
     

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  39. SAN DIEGO, May 13, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that members of its senior management team will participate in two upcoming investor conferences.

    • Berenberg Conference USA – Hosting virtual investor meetings on Monday, May 18
    • RBC Capital Markets Global Healthcare – Participating in a virtual fireside on Wednesday, May 20, at 2:30PM ET

    A live audio webcast of the RBC fireside chat presentation will be posted under the investor relations section of Arena's website at www.arenapharm.com. A replay of the presentation will be available for 30 days following the event.

    About Arena Pharmaceuticals
    Arena Pharmaceuticals is uniquely positioned to develop best-in-disease medicines with optimized efficacy…

    SAN DIEGO, May 13, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that members of its senior management team will participate in two upcoming investor conferences.

    • Berenberg Conference USA – Hosting virtual investor meetings on Monday, May 18
    • RBC Capital Markets Global Healthcare – Participating in a virtual fireside on Wednesday, May 20, at 2:30PM ET

    A live audio webcast of the RBC fireside chat presentation will be posted under the investor relations section of Arena's website at www.arenapharm.com. A replay of the presentation will be available for 30 days following the event.

    About Arena Pharmaceuticals
    Arena Pharmaceuticals is uniquely positioned to develop best-in-disease medicines with optimized efficacy and safety for patients globally. Our drive to deliver a robust pipeline of novel, transformational medicines is grounded in two decades of world-class G protein-coupled receptor (GPCR) discovery research.

    It is the breadth and depth of our portfolio, prioritization of drug development to meet unmet patient needs, strong financial health and growing, bold-thinking world-class team that gives Arena the ingredients and passion to build a sustainable, vibrant next-generation pharmaceutical company.

    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 participation in upcoming investor conferences, 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

     

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  40. SAN DIEGO, May 7, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today provided a corporate update and reported financial results for the first quarter ended March 31, 2020.

    "We are pleased to announce that our ongoing clinical programs are currently on track and our liquidity position remains strong with approximately one billion dollars in cash and investments. While maintaining momentum has not been easy, and we – along with the rest of the industry – have experienced a slowing in clinical trial operations, including site activations, our teams have been actively monitoring our ongoing trials day-by-day to ensure patient safety, study momentum and conduct, and drug supply. Additionally, prior to the COVID-19 outbreak, our…

    SAN DIEGO, May 7, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today provided a corporate update and reported financial results for the first quarter ended March 31, 2020.

    "We are pleased to announce that our ongoing clinical programs are currently on track and our liquidity position remains strong with approximately one billion dollars in cash and investments. While maintaining momentum has not been easy, and we – along with the rest of the industry – have experienced a slowing in clinical trial operations, including site activations, our teams have been actively monitoring our ongoing trials day-by-day to ensure patient safety, study momentum and conduct, and drug supply. Additionally, prior to the COVID-19 outbreak, our programs were well ahead of schedule, giving us an important buffer to weather the storm. Finally, given the broad clinical site base across our programs, we are also monitoring certain countries and regions as they begin to lift restrictions. We continue to evaluate the situation in real-time and we will provide further updates frequently as circumstances evolve," said Amit D. Munshi, President and CEO of Arena.

    Mr. Munshi added, "In the meantime, as we navigate the difficult and uncertain global conditions, we are taking measures to slow down hiring and spend in non-clinical areas, ensuring that we are highly focused on our key clinical objectives. We continue to judiciously manage cash and explore ways to reduce burn without impacting the long-term value of Arena or the delivery of critical milestones."

    Financial Update

    First Quarter 2020 Financial Results

    • Revenues for the first quarter totaled $0.3 million compared to $801.1 million in the first quarter of 2019. This decrease was driven by the $800.0 million upfront payment from the United Therapeutics transaction in the first quarter of 2019
    • Research and development (R&D) expenses for the first quarter totaled $78.5 million compared to $45.4 million in the same period 2019. This increase was primarily driven by our advancing clinical studies, including the etrasimod Phase 3 program, as well as an increase in personnel expenses as we staff to support our clinical programs. The R&D non-cash share-based compensation was $6.6 million in the first quarter as compared to $6.7 million in the same period 2019
    • General and administrative (G&A) expenses for the first quarter totaled $26.4 million, compared to $16.6 million in the first quarter of 2019. This increase is primarily attributed to personnel expenses including share-based compensation. The G&A non-cash share-based compensation was $8.6 million in the first quarter as compared to $6.3 million in the same period 2019
    • Net loss for the first quarter was $100.2 million compared to net income of $620.1 million for the same period in 2019. In connection with the United Therapeutics transaction we incurred transaction fees of approximately $17.0 million, of which $14.6 million was incurred in the first quarter of 2019, and was presented as transaction costs in the condensed consolidated statement of operations
    • Basic and diluted net loss per share for the first quarter 2020 was $2.00 compared to basic net income per share of $12.53 and diluted net income per share of $12.11 for the same period in 2019
    • Cash, cash equivalents and marketable securities were $1.0 billion at March 31, 2020, as compared to $1.1 billion at December 31, 2019

    Financial Outlook for 2020
    Arena updated its 2020 financial guidance ranges:

    • Cash used in operating activities for the full-year 2020 is expected to be $400 million to $430 million, down compared to our previous guidance of $95 million in the first quarter, with a subsequent quarter over quarter increase in the high single-digits to low double-digits

    Conference Call & Webcast Information
    Arena will host a live and webcast question and answer session via conference call and live webcast with the investment community today, Thursday, May 7, 2020, at 4:30 PM ET to discuss the financial results and provide a corporate update.

    When: Thursday, May 7, 2020, at 4:30 PM ET
    Dial-in: (877) 643-7155 (United States) or (914) 495-8552 (International)
    Conference ID: 4171767

    Please join the conference call at least 15 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 uniquely positioned to develop best-in-disease medicines with optimized efficacy and safety for patients globally. Our drive to deliver a robust pipeline of novel, transformational medicines is grounded in two decades of world-class G protein-coupled receptor (GPCR) discovery research.

    It is the breadth and depth of our portfolio, prioritization of drug development to meet unmet patient needs, strong financial health and growing, bold-thinking world-class team that gives Arena the ingredients and passion to build a sustainable, vibrant next-generation pharmaceutical company.

    Etrasimod, olorinab and APD418 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 "expected," "ensure," "begin to," "will," "long-term," "outlook," "guidance," "uniquely positioned to," and "drive to" and include, without limitation, statements about the following: Arena's clinical programs, including clinical study site activations, enrollment of study subjects, patient safety, study momentum, drug supply, timing of data readouts, and potential future updates on Arena's clinical programs; Arena's financial outlook and guidance, including expectations regarding cash to be used in operating activities and the rate of change thereof; Arena's planned conference call and webcast with the investment community; the potential of Arena's drug candidates, including to be best-in-disease or transformational, have optimized efficacy and safety, satisfy unmet patient needs, and be delivered to patients globally; and 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, 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 patients in Arena's ongoing and intended clinical trials is competitive and challenging; the duration and severity of the recent coronavirus disease (COVID-19) outbreak, 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 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 Annual Report on Form 10-K for the year ended December 31, 2019, which was filed with the SEC on February 27, 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 Media Contact:

    858.453.7200

    (Tables Follow)

     

    Arena Pharmaceuticals, Inc.

    Condensed Consolidated Statements of Operations

    (In thousands, except per share amounts)




    Three months ended




    March 31,




    2020



    2019




    (unaudited)


    Revenues









    United Therapeutics revenue


    $



    $

    800,000


    Royalty revenue



    262




    973


    Collaboration and other revenue






    84


    Total revenues



    262




    801,057











    Operating Costs & Expenses









    Research & development



    78,533




    45,396


    General & administrative



    26,442




    16,578


    Transaction costs






    14,573


    Total operating costs & expenses



    104,975




    76,547


    Income (loss) from operations



    (104,713)




    724,510











    Total interest & other income (expense), net



    4,506




    5,957


    Income (loss) before income taxes



    (100,207)




    730,467


    Income tax provision






    (110,333)


    Net income (loss)


    $

    (100,207)



    $

    620,134




















    Net income (loss) per share, basic:


    $

    (2.00)



    $

    12.53


    Net income (loss) per share, diluted:


    $

    (2.00)



    $

    12.10











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



    50,228




    49,478


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



    50,228




    51,255


     

    Arena Pharmaceuticals, Inc.

    Condensed Consolidated Balance Sheet Data

    (In thousands)

    (Unaudited)




    March 31, 2020



    December 31, 2019









    1


    Assets









    Cash & cash equivalents


    $

    190,428



    $

    243,274


    Accounts receivable



    268




    1,654


    Prepaid expenses & other current assets



    29,859




    18,715


    Total available-for-sale investments



    826,888




    867,229


    Land, property & equipment, net



    24,727




    25,128


    Other non-current assets



    17,501




    18,123


    Total assets


    $

    1,089,671



    $

    1,174,123











    Liabilities & Stockholders' Equity









    Accounts payable & accrued liabilities


    $

    40,497



    $

    41,153


    Total lease financing obligations & other long-term liabilities



    60,689




    61,505


    Total stockholders' equity



    988,485




    1,071,465


    Total liabilities & stockholders' equity


    $

    1,089,671



    $

    1,174,123




    1 

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

     

    Arena Pharmaceuticals Logo

     

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  41. SAN DIEGO, May 6, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that Preston Klassen, MD, MHS, the Company's Executive Vice President, Head of Research & Development, is scheduled to participate in a virtual fireside chat at the Bank of America Securities 2020 Healthcare Conference on Wednesday, May 13, at 10:20 AM ET (7:20 AM PT).

    A live webcast of the presentation will be posted under the investor relations section of Arena's website at www.arenapharm.com. A replay of the presentation will be available for 30 days following the event.

    About Arena Pharmaceuticals
    Arena Pharmaceuticals is uniquely positioned to develop best-in-disease medicines with optimized efficacy and safety for patients globally. Our drive…

    SAN DIEGO, May 6, 2020 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) today announced that Preston Klassen, MD, MHS, the Company's Executive Vice President, Head of Research & Development, is scheduled to participate in a virtual fireside chat at the Bank of America Securities 2020 Healthcare Conference on Wednesday, May 13, at 10:20 AM ET (7:20 AM PT).

    A live webcast of the presentation will be posted under the investor relations section of Arena's website at www.arenapharm.com. A replay of the presentation will be available for 30 days following the event.

    About Arena Pharmaceuticals
    Arena Pharmaceuticals is uniquely positioned to develop best-in-disease medicines with optimized efficacy and safety for patients globally. Our drive to deliver a robust pipeline of novel, transformational medicines is grounded in two decades of world-class G protein-coupled receptor (GPCR) discovery research.

    It is the breadth and depth of our portfolio, prioritization of drug development to meet unmet patient needs, strong financial health and growing, bold-thinking world-class team that gives Arena the ingredients and passion to build a sustainable, vibrant next-generation pharmaceutical company.

    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 participation in and webcast of the virtual fireside chat presentation and 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: