Posted by: ctraderd | June 25, 2012

ARNA News Coming Soon

Right now, Arena Pharmaceuticals (ARNA) is in the process of developing a new drug called Locaserin. Locaserin is a drug that will help get rid of body fat and will be up for approval by the FDA on June 27th. If the drug is approved, the stock price will probably soar, but if the drug isn’t approved, the stock will probably crash.

“Lorcaserin, an investigational drug candidate intended for weight management, is a new chemical entity that is believed to act as a selective serotonin 2C receptor agonist. The serotonin 2C receptor is expressed in the brain, including the hypothalamus, an area believed to be involved in the control of appetite and metabolism. Arena has patents that cover lorcaserin in the United States, Europe and other jurisdictions that in most cases are capable of continuing into 2023 without taking into account any patent term extensions or other exclusivity Arena might obtain.

Arena submitted the original NDA for lorcaserin to the FDA in December 2009, and the agency issued a Complete Response Letter (CRL) in October 2010. Arena resubmitted the lorcaserin NDA to the FDA in December 2011, and the agency assigned a PDUFA target date of June 27, 2012. Eisai Inc. has exclusive rights to market and distribute lorcaserin in the United States subject to FDA approval of the lorcaserin NDA. In addition, the European Medicines Agency accepted the lorcaserin marketing authorization application for filing in March 2012.”  (http://invest.arenapharm.com/releasedetail.cfm?ReleaseID=672532)

ARNA

I won’t be to surprised if ARNA‘s drug gets approved because it has had some very good clinical trials. The FDA might ask for more information on the drug or other various things. Right now, I currently have 1 ARNA Jul12 5 Call. I originally had 5 but I sold 4 of them off to secure a profit. My call is in the middle of a pretty steady increase right now, but if the drug is not approved, my call will probably crash along with the stock price.

Overall, there is a very good chance that this drug will be approved.

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