Arena Pharma (ARNA) Misses Q2 EPS by 1c

Arena Pharma (NASDAQ: ARNA) reported Q2 EPS of ($0.65), $0.01 worse than the analyst estimate of ($0.64). Revenue for the quarter came in at $4 million versus the consensus estimate of $2.91 million.

At June 30, 2018, Arena\'s cash, cash equivalents and investments balance was $592.4 million and approximately 49.3 million shares of Arena common stock were outstanding.

Pipeline Update

Etrasimod – Next generation, oral, selective sphingosine-1-phosphate (S1P) receptor modulator intended for the potential treatment of multiple immune and inflammatory diseases

• Ulcerative colitis (UC):
  • Submitted meeting request to the FDA; Phase 3 planning ongoing
• Crohn's disease (CD):
  • Submitting meeting request to the FDA; Phase 2/3 planning ongoing
• Primary biliary cholangitis (PBC):
  • Phase 2 trial ongoing

Ralinepag – Next generation, oral, once-daily, selective prostacyclin receptor agonist intended for the potential treatment of pulmonary arterial hypertension (PAH)

• Initiating three Phase 3 trials for the most comprehensive PAH clinical program
  • ADVANCE OUTCOMES (301): Time to clinical events outcomes study in approximately 700 patients; initiated study and expect to enroll patients in August
  • ADVANCE CAPACITY (302): Exercise capacity study to evaluate a peak oxygen uptake (VO2) via cardiopulmonary exercise testing (CPET) in approximately 140 patients in a 7-month fixed treatment duration; expect to initiate in Q4:18
  • ADVANCE ENDURANCE (304): Exercise capacity study measuring 6-minute walk distance (6MWD) in approximately 280 patients in a 7-month fixed treatment duration; expect to initiate in Q1:19
• Open-label extension interim trial results expected in H2:18

Olorinab – Peripherally restricted, oral, full agonist of the cannabinoid 2 (CB2) receptor intended for the potential treatment of visceral pain, specifically pain associated with Crohn\'s disease

• Completed enrollment in Phase 2 study in June, data expected in late September

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

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