Arena Pharma (ARNA) Pops on More Positive Chatter
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Arena Pharma (Nasdaq: ARNA) is active in pre-market action Wednesday following a 14 percent jump on Tuesday, as LifeSci Advisors issued positive commentary on the stock.
Some of the key points:
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Some of the key points:
- Arena could receive a $1.2 billion one-time purchase price adjustment from Eisai based on net sales of BELVIQ;
- Arena will get $5 million following OEA scheduled designation;
- Another $60 million will be received following DEA scheduling and delivery of launch supply;
- Lorcaserin is entitled to 5 years of patent exclusivity under Hatch-Waxman because its a new compound;
- The composition is protected until 2023;
- Arena owns patents on lorcasein and related compounds in 69 jurisdictions; and
- Management sees $143 million of cash and equivalents at the end of June, which doesn't include a $20 million milestone payment.
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