Early stage biotech stocks can be very volatile, lets hope that the 10+ million shares of shorts have gotten it wrong in this stock. They've got a Phase III drug for obesity, I bet a drug like that would have FAT profit margins, there is certainly a huge appetite for the drug. The company spoke at a biotech conference today here's what the CNBC guy thought.
CNBC guy thought.
Arena Pharmaceuticals, Inc. (Arena) is a clinical-stage biopharmaceutical company focusing on the discovery, development and commercialization oral drugs in four therapeutic areas: cardiovascular, central nervous system, inflammatory and metabolic diseases. The Company’s advanced drug candidate, lorcaserin hydrochloride (lorcaserin), is being investigated in a Phase III clinical trial program for the treatment of obesity. It has a pipeline of compounds that target known and orphan G protein-coupled receptors (GPCRs), and includes compounds being evaluated independently and with its partners, Ortho-McNeil Pharmaceutical, Inc. and Merck & Co., Inc.Arena’s other lead internal development programs include APD125 and APD791. During the year ended December 31, 2006, the Company initiated dosing in a Phase II clinical trial of APD125, which is an orally available drug candidate that it discovered and has the potential to reduce insomnia symptoms and improve sleep maintenance.