Dallas, Texas 11/18/2013 (Financialstrend) – In Friday’s trading session, Arena Pharmaceuticals, Inc (NASDAQ:ARNA) rose by 6.83%. The shares opened at a price of $5.41, which touched the intraday high of $5.61 and headed to a close of $5.46. Around 9.67 million exchanged hands over the trading day and an average volume of 5.69 million shares were traded over a 30 day period. The 52-week low of Arena Pharmaceuticals, Inc (NASDAQ:ARNA) shares is $4.05 and its 52-week high is $11.00. The company has a market capitalization of $1.19 billion.
About the company
Arena Pharmaceuticals, Inc (NASDAQ:ARNA) was incorporated on 14 April 1997. It is a bio-pharmaceutical company that concentrates on discovering & development as well as commercialization of drugs that target the G protein-coupled-receptors. The company’s 100%-owned subsidiary is named Arena Pharmaceuticals GmbH. It has granted Eisai commercialization rights for BELVIQ in the U.S. Arena Pharmaceuticals, Inc (NASDAQ:ARNA)’s other oral drug-candidates are APD811- this particular drug is an agonist of a prostacyclin-receptor that is intended for treating pulmonary arterial-hypertension- this is currently in a Phase 1 clinical-trial.
Another one of the company’s drug candidates is temanogrel. This is an inverse-agonist of serotonin 2A-receptor and is intended for use in the treatment of thrombotic-diseases. This drug has completed its single & multiple-ascending dose-Phase I trials; The next drug candidate is APD334- this is an agonist of the S1P1-receptor that is intended for treatment of autoimmune-diseases, & APD371- this is an agonist of the cannabinoid-receptor-2 that is intended for treating pain.
This is in preclinical development. In 2012 June, the U.S FDA approved Arena Pharmaceuticals, Inc (NASDAQ:ARNA)’s internally-discovered drug, BELVIQ. This drug is used for chronic weight-management in the adults who are overweight and have comorbidity or are obese. Arena Pharmaceuticals, Inc (NASDAQ:ARNA)’s R&D programs also include GPR119 & earlier-stage programs. These span numerous therapeutic areas. The 3 trials included in the company’s BELVIQ Phase-III development-program are BLOOM & BLOSSOM as well as BLOOM-DM.