Arena Pharma (ARNA) Tops Q1 EPS by 4c

Arena Pharma (NASDAQ: ARNA) reported Q1 EPS of ($0.10), $0.04 better than the analyst estimate of ($0.14). Revenue for the quarter came in at $12.3 million versus the consensus estimate of $10.56 million.

At March 31, 2015, cash and cash equivalents totaled $241.0 million, including net proceeds of $100.7 million from the common stock offering in January 2015.

"We are pleased with the progress we have made thus far in 2015, including the approval and launch of BELVIQ in South Korea, our entry into a collaboration for the development and commercialization of nelotanserin, and the favorable results generated from our investigational clinical trials for APD334 for inflammatory bowel diseases, APD371 for pain or fibrotic diseases and BELVIQ XR, a once-daily extended release formulation of BELVIQ for weight management," stated Jack Lief, Arena's President and Chief Executive Officer. "We continue to advance our clinical pipeline toward proof of concept and beyond in areas of unmet medical need as we support efforts to bring BELVIQ to additional patients in new territories."

For earnings history and earnings-related data on Arena Pharma (ARNA) click here.

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