Arena Pharmaceuticals (NASDAQ:ARNA): Wall Street is exploding with the news that Arena Pharmaceutical Inc’s newest diet pill has been approved by U.S. health regulators today. As public health organizations push for innovative solutions to the growing obesity epidemic, the drug is the first new pill on the market in almost 13 years. Shares of Arena have launched more than 45% following the news.
Wow an obesity drug, shares jump 45%. NOW THINK WHAT SNTA IS DEVELOPING, a cancer drug. If this stock ARNA is trading at $10-$11 range, now before anyone says anything the stock was trading between $9-$10 before approval. Now getting back to my point if an obesity drug can have a stock trading in these levels, what can a first in cancer drug do. Go yeah SNTA