Arena (ARNA) Looks to Break Losing Streak Following Qsymia Approval (VVUS) (OREX)
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Arena Pharmaceuticals (Nasdaq: ARNA) shares are skipping over broader market moves Monday, as well as outpacing its peers, on some positive sentiment.
Volatility on Arena is down 3 percent to 5.2 percent and at 55 percent of its annual average.
Shares are up about 7.5 percent on the session, breaking a five-session losing streak.
Despite the recent move lower, Arena is still trading up about 450 percent in 2012, bolstered by a positive FDA panel vote for Belviq on May 10th and subsequent approval on June 27th. Peer VIVUS (Nasdaq: VVUS) recently received FDA approval for its own weight-management pill, Qsymia, while Orexigen (Nasdaq: OREX) is still conducting trials on its Contrave to evaluate its effects on the heart.
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Volatility on Arena is down 3 percent to 5.2 percent and at 55 percent of its annual average.
Shares are up about 7.5 percent on the session, breaking a five-session losing streak.
Despite the recent move lower, Arena is still trading up about 450 percent in 2012, bolstered by a positive FDA panel vote for Belviq on May 10th and subsequent approval on June 27th. Peer VIVUS (Nasdaq: VVUS) recently received FDA approval for its own weight-management pill, Qsymia, while Orexigen (Nasdaq: OREX) is still conducting trials on its Contrave to evaluate its effects on the heart.
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