Arena Pharma (ARNA) Posts Q3 Loss of 5c/Share; Revs Miss Expectations

Arena Pharma (NASDAQ: ARNA) reported Q3 EPS of ($0.05), which may not compare with the analyst estimate of ($0.12). Revenue for the quarter came in at $8.2 million versus the consensus estimate of $10.9 million.

Third Quarter and Recent Developments

BELVIQ® (lorcaserin HCl) CIV US Commercial Update

• IMS Health estimates that approximately 143,000 prescriptions for BELVIQ were filled in the third quarter of 2014, representing growth of approximately 30% in total prescriptions as compared to the previous quarter.

• Eisai recorded net product sales for BELVIQ of $16.8 million in the third quarter of 2014.

BELVIQ Additional Developments

• Arena and Eisai announced top-line results of a pilot study to assess the safety of lorcaserin, when coadministered with phentermine. The results of the investigational study demonstrate that the short-term combination of lorcaserin plus phentermine does not appear to be associated with an exacerbation in the proportion of pre-specified adverse events compared to therapy with lorcaserin alone.

• Arena and Eisai announced top-line results from the Phase 2 trial investigating lorcaserin for smoking cessation. This proof-of-concept trial provided what is believed to be the first clinical evidence that a selective serotonin 2C agonist may have a treatment effect for smoking cessation.

• Arena completed dosing in two Phase 1 clinical studies evaluating a lorcaserin 20 mg extended release tablet.

• Arena and Eisai presented multiple posters on lorcaserin research findings at the American Society of Bariatric Physician's 64th Annual Obesity and Associated Conditions Symposium and at the American College of Clinical Pharmacy Annual Meeting, both held in Austin, Texas.

• Arena and Eisai announced that a pooled analysis of the BLOOM and BLOSSOM pivotal, Phase 3 clinical trials of BELVIQ was published in the October issue of Postgraduate Medicine. In the pooled analysis, BELVIQ 10 mg twice daily, as compared to placebo and both in conjunction with diet and exercise, was associated with statistically significant weight loss and clinically relevant improvements in cardiometabolic parameters.

Arena Research & Development

• Initiated enrollment in a Phase 1 multiple-ascending dose trial of APD334, Arena's S1P1 receptor agonist intended for the treatment of autoimmune diseases.

• Ralinepag (formerly known as APD811) granted orphan drug status by the US Food and Drug Administration for the treatment of pulmonary arterial hypertension.

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

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