Arena (ARNA) Chugs Higher on Volume; Will Present at JP Morgan Conf. Tomorrow

Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) shares are at intraday highs on volume as peer Orexigen (Nasdaq: OREX) wrapped up its presentation at the 31st Annual J.P. Morgan Healthcare Conference. The stock is up 8 percent and pushing toward the key $10 level. Volume of 20 million shares is more than double the typical daily average of 8 million shares.

Arena will be presenting at the conference tomorrow starting at 6:30pm EST.

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