Arena Pharma (ARNA) Volatility Up; Shares Trade Higher into VIVUS (VVUS) PDUFA for Qnexa
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Arena Pharmaceuticals (Nasdaq: ARNA) volatility is elevated as shares continue to trickle higher Thursday.
Market data shows implied volatility up 15 percent from Tuesday's close and at 67 percent of its annual trailing daily average. Implied volatility is currently at 97 percent.
Shares are about 6.9 percent better with decent volume in the post-holiday session.
Arena has been tepid following FDA approval of its weight-loss drug lorcaserin in late June. Many could be trading on peer VIVUS (Nasdaq: VVUS), which has a PDUFA date of July 17th for its Qnexa obesity pill.
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Market data shows implied volatility up 15 percent from Tuesday's close and at 67 percent of its annual trailing daily average. Implied volatility is currently at 97 percent.
Shares are about 6.9 percent better with decent volume in the post-holiday session.
Arena has been tepid following FDA approval of its weight-loss drug lorcaserin in late June. Many could be trading on peer VIVUS (Nasdaq: VVUS), which has a PDUFA date of July 17th for its Qnexa obesity pill.
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