Arena Pharma (ARNA) Tops Q2 EPS by 15c

Arena Pharma (NASDAQ: ARNA) reported Q2 EPS of ($2.04), $0.15 better than the analyst estimate of ($2.19)..

“With today’s announcement of the ELEVATE UC 12 trial reaching full enrollment, we look forward to a potentially transformational data readout of ELEVATE UC 12 and ELEVATE UC 52 in the first quarter of next year. We are also pleased with our recently announced partnership with Aristea to strengthen our mid-stage immunology pipeline,” said Amit D. Munshi, President and CEO of Arena. “We remain excited about moving forward to Phase 3 in atopic dermatitis — a decision that is further supported by updated OLE data. We are continuing to engage regulatory agencies worldwide in the design of the program.”

Cash, cash equivalents and marketable securities were $1.0 billion at June 30, 2021 as compared to $1.1 billion at December 31, 2020

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

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