Form 10-Q ARENA PHARMACEUTICALS For: Sep 30
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Needham & Company Updates Ests on Arena Pharma (ARNA) Following Q3 Results; Maintains 'Hold' Rating
November 11, 2015 6:55 AM ESTNeedham & Company affirms Arena Pharma (Nasdaq: ARNA) at Hold following the company's Q3 reprot on Tuesday night.
Analyst Alan Carr summarized: The company reported $4.9M in 3Q15 Belviq revenue from collaborators Eisai and Ildong, compared to our $4.7M estimate. Eisai... More
Arena Pharma (ARNA) Tops Q3 EPS by 2c; Issues Corp., R&D, BELVIQ Updates
November 10, 2015 4:01 PM ESTArena Pharma (NASDAQ: ARNA) reported Q3 EPS of ($0.11), $0.02 better than the analyst estimate of ($0.13). Revenue for the quarter came in at $9.1 million versus the consensus estimate of $9.14 million.
Corporate Update
Announced plans to improve efficiencies and reduce costs as it focuses on the advancement of its research and development priorities. As part of this initiative, Arena reduced its US workforce by approximately 80 employees or 35%, which is expected to reduce annualized cash expenditures for personnel by approximately $11.0 million. Arena plans to implement additional cost control measures to further reduce its expenditures,... More