ARNA - ARNA STOCK NEWS

Arena Pharmaceuticals (Nasdaq: ARNA) announced the successful launch of Longboard Pharmaceuticals, following a $56 million financing led by Farallon Capital Management and others. Previously a wholly-owned subsidiary, Longboard aims to develop CNS-targeted assets birthed from Arena's GPCR research. The financing will support clinical and preclinical programs for LP352, LP143, and LP659, focusing on neurological conditions. Arena shareholders will maintain equity value in Longboard and future royalties. Leadership from Arena will join Longboard's board to steer the new venture.

Arena Pharmaceuticals (Nasdaq: ARNA) announced on October 15, 2020, that its Compensation Committee granted inducement stock options and restricted stock units (RSUs) to seven new employees. In total, 66,475 stock options and 11,760 RSUs were granted, with a non-qualified option exercise price set at $81.57 per share. The options will vest over four years, while RSUs will also follow a four-year vesting schedule. This move aims to attract talent and aligns with Nasdaq Listing Rule 5635(c)(4).

Arena Pharmaceuticals (ARNA) announced its participation in the 26th Annual United European Gastroenterology (UEG) Week, scheduled for October 11-13, 2020. The company will present new data from its Phase 2 OASIS trial for etrasimod, focused on ulcerative colitis, along with preclinical data for olorinab, targeting gastrointestinal pain. Key presentations include a symposium on investigational treatments and detailed findings from clinical trials. Both drugs remain investigational and are not approved for use.

Arena Pharmaceuticals (Nasdaq: ARNA) has completed full enrollment of the Phase 2b CAPTIVATE trial for olorinab, targeting abdominal pain in irritable bowel syndrome (IBS). The trial included 273 participants across 70 U.S. sites, focusing on improving the Average Abdominal Pain Scale (AAPS) over 12 weeks. Olorinab, a highly-selective CB2 receptor agonist, aims to provide pain relief with low abuse potential. Topline data is expected in early 2021, marking a significant step in offering a non-opioid treatment option for IBS patients.

Arena Pharmaceuticals (Nasdaq: ARNA) announced on September 15, 2020, that its Compensation Committee granted inducement stock options for 68,825 shares and restricted stock units (RSUs) for 12,420 shares to nine new employees. The stock options have an exercise price of $69.25 per share, matching the closing price on the grant date, and will vest over four years. The RSUs will also vest over the same period, with 25% vesting at the first quarterly date following the one-year anniversary. This move aligns with Nasdaq Listing Rule 5635(c)(4) as an inducement for new hires.

Arena Pharmaceuticals (Nasdaq: ARNA) announced that CEO Amit D. Munshi will present a corporate update at the Jefferies Virtual Next Generation IBD Therapeutics Summit on September 23 at 1:45 PM ET. The live audio webcast will be available on Arena's investor relations website, and a replay will be accessible for 30 days post-event. Arena Pharmaceuticals aims to deliver important medicines to patients, demonstrating a commitment to innovation and stakeholder needs in a dynamic market.

Arena Pharmaceuticals (Nasdaq: ARNA) has commenced the ELEVATE UC 12 Phase 3 trial, marking a significant milestone in the evaluation of etrasimod for treating moderately to severely active ulcerative colitis. This trial is part of the larger ELEVATE UC registrational program, which aims to assess the safety and efficacy of etrasimod, an investigational oral medication. The trial involves approximately 450 sites across over 40 countries and is expected to deliver data by the end of 2021, providing a potential new treatment option for patients in need.

Arena Pharmaceuticals (Nasdaq: ARNA) announced its participation in several upcoming investor conferences. Key presentations include the Wells Fargo Virtual Healthcare Conference on September 9 at 1:20 PM ET, the Citi 2020 BioPharma Virtual Conference with investor meetings on September 10, the H.C. Wainwright Virtual Global Investment Conference on September 14 at 9:30 AM ET, and the Cantor Virtual Global Healthcare Conference on September 16 at 2:00 PM ET. Live audio webcasts will be available on their website, with replays for 30 days post-event.

Arena Pharmaceuticals (Nasdaq: ARNA) has initiated a Phase 2 trial for etrasimod, a novel oral treatment for moderate-to-severe alopecia areata, with the first subject dosed on September 1, 2020. The randomized, placebo-controlled trial involves 36 subjects over 24 weeks and aims to assess the drug's efficacy and safety. Etrasimod is designed to target immune responses linked to hair loss. The trial's primary endpoint is the change in Severity of Alopecia Tool (SALT) score. Results are expected in 2021, potentially addressing a significant unmet medical need.