Arena Pharma (ARNA) Tops Q1 EPS by 18c

Arena Pharma (NASDAQ: ARNA) reported Q1 EPS of ($1.98), $0.18 better than the analyst estimate of ($2.16). Revenue for the quarter came in at $300 thousand versus the consensus estimate of $570 thousand.

Cash, cash equivalents and marketable securities were $1.1 billion at March 31, 2021 and December 31, 2020.

"Over the quarter, we continued progress across our pipeline – we announced our temanogrel program in microvascular obstruction, the ELEVATE UC 52 Phase 3 study for etrasimod was fully enrolled, and we initiated additional etrasimod Phase 2 studies for eosinophilic esophagitis (VOYAGE) and ulcerative colitis (GLADIATOR UC)," said Amit D. Munshi, President and CEO of Arena. "We also recently published our second annual Environmental, Social, Governance (ESG) report to share our progress and commitment to building long-term value. Overall, our pipeline continues on track and we look forward to providing more updates throughout the year."

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

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