Arena Pharma (ARNA) Momentum Continues into PDUFA for Lorcaserin
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Arena Pharmaceuticals (Nasdaq: ARNA) shares are indicated higher again Monday morning, following a close nearly 4 percent higher last Friday. Investors and traders are jockeying for position ahead of Arena's PDUFA meeting with the FDA over its proposed weight-loss drug lorcaserin, set for June 27th.
Option implied volatility dropped following positive news from an FDA advisory committee over the drug in early May, though its been creeping up over the past several sessions.
Shares are up about 4 percent ahead of the bell, with just over 13,000 shares trading hands.
The stock has closed higher 15 of the last 20 trading sessions, moving an additional 50 percent over the period. Arena is up 130 percent since the May 10th FDA panel vote.
Option implied volatility dropped following positive news from an FDA advisory committee over the drug in early May, though its been creeping up over the past several sessions.
Shares are up about 4 percent ahead of the bell, with just over 13,000 shares trading hands.
The stock has closed higher 15 of the last 20 trading sessions, moving an additional 50 percent over the period. Arena is up 130 percent since the May 10th FDA panel vote.
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