Arena Regains Some Ground After Friday’s 7% Drop (ARNA)

Posted in pre-market 
August 16th, 2010

On Friday, Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) posted a 7.53% loss after Jefferies expressed concern about the company’s sound usage of risk calculation for the obesity drug Lorcaserin. As of 8:34AM EDT, the biopharmaceutical company was up 2.71% to $6.81, which is at the high end of the stock’s 52-week range of $2.70-$8.00. The stock has traded 40,684 shares, with an average volume of 8.8 million shares.

-Michael B. Sauter

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