Boston, MA 03\/19\/2014 (wallstreetpr) – To start off, Arena Pharmaceuticals, Inc. (NASDAQ:ARNA)<\/b> reported its most recent quarterly results February 27. And what came out was not what the Street predicted. The company reported earning -$11 per share in the quarter, missing consensus of $0.02 by $0.13. And the bad news was not just confined to the earnings; revenue also missed the expectation by significant margin, coming in at $6.5 million when Street expected $7 million.<\/p>\n
Comparing the most recent quarter performance results with numbers realized in the same period last year, earnings came out worse by $0.01, while revenue was strongly up by more than 242 percent.<\/p>\n
For drug companies, losses are welcome <\/b><\/p>\n
Now, with these results, can you still afford to be patient here when losses seem to be the name of the game? If the name of company in question is Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), you can afford to be patient and that is what is important. It is typical of drug companies to exist in losses until they make a breakthrough in their drug study, or the newly released product gains widespread acceptance. And gaining acceptance usually takes some time as physicians usually like to stick with alternatives until they are able to seen more solid data on the drug\u2019s safety and efficacy. Once that happens, then things are always good and investors can join in the celebration.<\/p>\n
Although Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) has its drugs out there on the market, one of its main revenue earners is till new and sales are not very attractive. In the just reported quarter sales for the diet drug BELVIQ missed projection and that came as a disappointment. But note that the company involved in the distribution of the drug has maintained that sales will increase in no time. Eisai just boosted its sales team and more promotions for the drug are expected to start coming next month. These should help in boosting sales.<\/p>\n
More customers knocking on the door<\/b><\/p>\n
The disappointment which came from BELVIQ sales and thus impacted earnings in the last quarter was due to the limited market that the drug currently has. But note companies in countries like South Korea, Brazil, Canada, Mexico and Switzerland are seeking approval for the diet drug. That being the case, it means that a wider market awaits the product.<\/p>\n
With that in mind, investors need not to be worried about Arena Pharmaceuticals, Inc. (NASDAQ:ARNA). What is needed is patience as better things are still ahead of the road.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 03\/19\/2014 (wallstreetpr) – To start off, Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) reported its most recent quarterly results February 27. And what came out was […]<\/p>\n","protected":false},"author":12,"featured_media":17597,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[264],"tags":[2717,2718],"stock_ticker":[],"class_list":["post-17591","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-arena-pharmaceuticals-inc-nasdaqarna","tag-nasdaqarna","entry"],"acf":[],"yoast_head":"\n