Arena Pharmaceuticals (ARNA) Flips Positive on FDA Staff Questions

May 8, 2012 8:22 AM EDT
After originally trading down on FDA staff questions ahead of the May 10 FDA AdCom for weight loss drug Locaserin, Arena Pharmaceuticals (Nasdaq: ARNA) is now up 12 percent.

In October 2011, Arena and partner Eisai Inc. received a Complete Response Letter (CRL) from the FDA on Locaserin. In December 2011, the comapny resubmitted the lorcaserin NDA and the he FDA accepted the resubmission for and assigned a PDUFA date of June 27th.

It promises to be a whipsaw day for Arena.


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