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Old 05-28-2009, 02:16 PM   Nav to Top  #1
doc4life95
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Default ARNA

What is everyone's opinion on this Pharma?
Heavy Insider buying last few weeks-
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Old 05-28-2009, 03:36 PM   Nav to Top  #2
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Could you post a link that shows the insider buying? Thanks:)

From biomed reports....

Arena Pharma (NASDAQ:ARNA): On 3/30/09, ARNA announced Phase 3 clinical trial results for its weight loss drug lorcaserin. While the results partly met FDA benchmarks, they still fell shy of a proposed FDA guideline that calls for at least a 5% point difference in weight loss between the test drug and placebo. The average weight loss for lorcaserin patients was 5.8% (12.7 pounds) versus 2.2% (4.7 pounds) for patients receiving a placebo for a difference of 3.6%, which is shy of the FDA's 5% standard. Arena will announce additional Phase 3 data for lorcaserin in September and still expects to file for FDA approval by year-end based on positive safety data and meeting the study objectives for weight loss.
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Old 05-28-2009, 03:42 PM   Nav to Top  #3
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Originally Posted by mahmissa View Post
Could you post a link that shows the insider buying? Thanks:)
.
ARNA : Insider Transactions for Arena Pharmaceuticals Inc | J3SG
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Old 05-28-2009, 11:58 PM   Nav to Top  #4
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Hey guys,

Are you guys talking about the 5-14 transactions? If you are talking about those, those are stock option awards, not buys, thats what the "4" means if you click on it. Notice they are different than the Institution buys, its like 13-HF or something. I saw that on HEB and I almost *#%* my pants lol, but yeah, good ole chuck straightened me out


MFFAIS - Arena Pharmaceuticals Inc (ARNA)
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Old 05-30-2009, 10:21 PM   Nav to Top  #5
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Originally Posted by Superfly View Post
Hey guys,

Are you guys talking about the 5-14 transactions? If you are talking about those, those are stock option awards, not buys, thats what the "4" means if you click on it. Notice they are different than the Institution buys, its like 13-HF or something. I saw that on HEB and I almost *#%* my pants lol, but yeah, good ole chuck straightened me out


MFFAIS - Arena Pharmaceuticals Inc (ARNA)
I did a little research on: Sec Form 4 - Hixson Harry F Jr - Arena Pharmaceuticals Inc - For 05/14/09

these are Class "P" Transactions meaning:
General Transaction Codes
P – Open market or private purchase of securities

Whats more Dr White purchased at varying share prices:
Common Stock 05/14/2009 P 10,000 A $ 2.62 10,000 D
Common Stock 05/14/2009 P 7,800 A $ 2.729 17,800 D
Common Stock 05/14/2009 P 2,200 A $ 2.73 20,000 D

Per Peter Lynch there is only one reason INSiders buy..
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Old 06-07-2009, 03:12 PM   Nav to Top  #6
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ARNA is a buy for around a double pending FDA approval/rejection. Whether or not the drug will be approved is another story. Obesity treatments are tricky, especially since so many outside factors also influence weight. Upon approval, I would find it hard to believe this stock would trade under $15-$20 considering the ever-increasing size of the obesity treatment market. This is just my thought for whatever it is worth. I had recently held ARNA for about a week before I realized there are perhaps better near-term biopharm opportunities. I will jump back into ARNA with profits made from other investments.

Darin
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Old 06-07-2009, 06:07 PM   Nav to Top  #7
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new news for ARNA http://finance.yahoo.com/news/Arena-...7338.html?.v=1
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Old 06-07-2009, 07:03 PM   Nav to Top  #8
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This article is almost a month old, but it hasn't been posted here yet. I think it's a goodie (well-rounded with the pluses and minuses of the drug, the company's situation and outlook)

The Skinny on ARNA's Lorcaserin

On March 30, 2009, Arena Pharmaceuticals (ARNA) released the much-anticipated results of the 2-year BLOOM clinical trial studying 10mg BID lorcaserin vs. placebo.

...

The results are mixed, in our view. To put things in perspective, we will analyze the data stand-alone based on the FDA’s guidelines for approvability. FDA guidelines say that one of the below two endpoints must be met:

1) The drug must demonstrate a mean categorical weight loss of 5% in greater than 35% of the study participants, and these results must be twice that of the placebo group.

The BLOOM clearly passes this required endpoint. After one year, 47.5% of the patients taking lorcaserin lost at least 5% of their body weight vs. only 20.3% for the placebo. The results were also statistically significant and clinically meaningful at the 10% hurdle, 22.6% vs. 7.7%.

2) The drug must demonstrate a placebo-adjusted weight loss for the entire study population greater than 5%.

The BLOOM data unfortunately fails this endpoint. Data from BLOOM show that patients taking lorcaserin lost a statistically significant amount of weight (ITT) vs. placebo, 12.7 lbs (5.8%) vs. 4.7 lbs (2.2%), respectively, but the placebo adjusted total of 8.0 lbs (3.6%) did not eclipse the 5% hurdle.

Therefore, based on the FDA guidelines and the data from BLOOM, we believe lorcaserin is a drug that is clearly approvable. However, Arena will not compete in a vacuum for obesity market share.

...

Our conclusion is that lorcaserin is a safe, although not a powerfully effective drug for weight loss. Unless the BLOSSOM data show a dramatic improvement in weight loss after one year, or other late-stage agents such as Qnexa or Contrave fail their respective ongoing phase III programs, we believe that physician use and patient demand for lorcaserin will be low.

...

At $3 per share, Arena is getting down to a valuation where the stock is becoming attractive. Factoring in the offerings to Azimuth, Arena is trading with a market capitalization of only $240 million. If we are correct, and lorcaserin is an approvable $500 million drug, along with the rest of the early-stage and mid-stage pipeline, Arena should find a floor at $200 million market cap ($2.50/share).

At some point Arena will become a Buy based on expectations for lorcaserin hitting reasonable levels – a $500 million drug – and Merck and J&J lingering in the background considering their existing relationships and Arena’s early-stage pipeline. We think this level is around $2.50. That’s where we would look to establish a position in the name.
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