Arena Files for European Drug Review (ARNA, VVUS, OREX)
Drug maker Arena Pharmaceuticals Inc. (NASDAQ: ARNA) announced that its application to sell its lorcaserin weight-loss drug in Europe has been accepted by the Europe Medicines Agency. This is the first step toward a full review of the drug’s acceptability…
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The company also said that it had scheduled a meeting with the US Food and Drug Administration for May 10th to discuss resubmission of the company’s new drug application in the US. Lorcaserin is one of three weight-loss drugs currently in the mix for FDA approval. Qnexa from Vivus Inc. (NASDAQ: VVUS) and Contrave from Orexigen Therapeutics Inc. (NASDAQ: OREX) are the others.
Arena’s shares are up nearly 17% this morning, at $2.81 after posting a new 52-week high of $2.88 earlier. The 52-week low is $1.21.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
