Boston, MA 06/24/2013 (wallstreetpr) – The share prices of Arena Pharmaceuticals, Inc (NASDAQ:ARNA) has been advanced by 7.12 percent to close at $8.05 per share for the end of Friday on last trading session. The openings price of the share is $7.54 per share. The shares of the company had been trading in $7.48 to $8.17 per share range during the trading day. The shares of the company had thereby a 52 week high price level of $13.50 per share and the 52 week low price level of the company is at $6.95 per share.
Arena Pharmaceuticals, Inc (NASDAQ:ARNA) is generally a biopharmaceutical company focused on discovering, commercializing and developing drugs that target Gprotein- coupled receptors (GPCRs). The company’s research and development programs also include the GPR119 with earlier stage programs that span several therapeutic areas.
Belviq is a new weight loss drug which was made by ARNA that became available by prescription for past week, one of the only two weight loss drugs approved by the FDA in the last 13 years. Trade name is Belviq, Generic name is Lorcaserin, and it was called Lorquess during its development. Belviq affects the brain having the serotonin receptors and changing the neuro transmitter action of serotonin. It is a new novel new single agent available to doctors which has better efficacy with excellent safety profile, when compare to Qsymia by Vivus, Inc which make metabolism stimulates and is a combination of two generic drugs.
The shares of Arena Pharmaceuticals, Inc (NASDAQ:ARNA) had thereby been trading in huge volumes with nearly 13.95 million trades being executed on Friday against an average volume of 5.49 million shares per day. The company presently holds 217.78 million shares outstanding in the market with an institutional ownership of 48 percent of its holdings.
