Boston, MA 11/01/2013 (wallstreetpr) – The stock of San Diego, California based Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) shed 3.11% of its market cap to $951.59 million and end the session at $4.36, about 3.81% above its 52 week low of $4.20 hit on Oct 11, 2013. The stock traded with volume of 6.58 million shares against its 30 day average volume of 5.03 million shares. The stock is trading significantly below its 200 day moving average of $6.94 and its 50 day moving average of $5.07.
On October 30, 2013, Arena Pharmaceuticals announced to provide its corporate update and report 3Q13 financial results after the closing bell on next Thursday, November 7, 2013. The company also announced to host a conference call and webcast the same day at 5:00 PM ET or 2:00 PM PT.
The conference call will be webcast live on the company’s website http://www.arenapharm.com/ under the investor relations section. Those who may not attend the webcast live can lately listen to the same as the webcast will be archived for 30 days following the call. The company also listed the phone numbers for domestic as well as international callers to attend the conference call.
About Arena’s Marketed Drug
Belviq, an adjunct to a balanced diet and increased physical activity for chronic weight management, caters to untapped anti-obesity drug market where just about 2% of obese patients receive any drug therapy.
Belviq, for the treatment of obesity, is the first FDA approved drug in past several years and is presently approved only in the U.S. the company has also filed for regulatory approvals in foreign markets including Mexico, Canada and Switzerland and also plans to file soon in Brazil, South Korea and Taiwan. In Taiwan and South Korea, the company has entered into partnerships with local firms CY Biotech and Ildong Pharmaceuticals respectively, for regulatory filings and marketing rights. For most of North and South America, exclusive marketing and distribution rights are granted to Eisai Co., Ltd (ADR) (OTCMKTS:ESALY).
