Form 10-Q ARENA PHARMACEUTICALS For: Sep 30
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Go back to Form 10-Q ARENA PHARMACEUTICALS For: Sep 30
November 11, 2015 6:55 AM EST
Needham & 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
November 10, 2015 4:01 PM EST
Arena 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,...
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