VVUS insiders dumped like mad the day of their ADCOM decision. Yet no ARNA insider selling. Not a single share sold by insiders on this pop.
Telling ya something up. They know something that is going to take stock higher ahead of FDA decision.
This whole argument of something's-happening-as-evident-by-the-insiders-trading-characteristics is so wrong. Especially with Arena because the lawyers run the show, insiders can't trade when they have material information. I can tell you since I worked there that Arena is very very serious about this.
There are only a couple two-week trading windows available per year (i think one per quarter). One can trade outside that window but you have to sit down with a lawyer and give your reasons. Ridiculous.
The Arena insiders have traditionally traded very little throughout this entire lorcaserin story.