I believe this was pulled as part of a larger sale or partnership on the European rights side, we will find out in less than an hour. But i dont believe this is bad news.. I think it is good news and will be clarified shortly.
Sentiment: Strong Buy
Does anyone know for a FACT if Arena legally obliged to disclose the reason for the pullout, specifically if it were due to an anticipated rejection? Any lawyers on the board?
Could it perhaps have anything to do with a certain blacked-out word (ingredient) on the recently redacted scheduling proposal document? The timing of that redaction and this news here seems to be a little more than mere coincidence imo.. Any thoughts anyone? Could anyone with a science background add light on whether perhaps this ingredient could have been problematic in EU? Just trying to understand what's going on here.. because I am flummoxed....
Sentiment: Strong Buy
Check the ARNA Yahoo page - there's a link to the ARNA Form 8-K - when I last looked it was three links down. There is a full discussion written by ARNA which (in my reading) attributes the pull to anticipated safety concerns that remained unaddressed after ARNA' responded to request for further information.
Would that you were correct. I just read their explanation (linked on the Yahoo ARNA page - I think it's in the 8K) and my reading is that this is tied to safety issues that the CHMP had. They went on to say that they gave an OE but the CHMP wasn't satisfied so they pulled. I wish it were otherwise but my fervent wishes don't make it so. The dream deferred - if I can scrape up some more scratch I might buy more.
Should be an interesting CC.
Why announce the pulling of the EU Application in a press release and not balance it with sale or partnership news if it's there, otherwise announce both at the same time. That's not to say that a sale or partnership won't be announced at some time but it would make no sense to think it would happen as part of the conference call.
And you know this how? Opinion that's it. If they knew of a rejection they could not pull it. That's illegal. Every other company that faced a rejection letter would have been able to do the same thing and you don't here about any of them.
There must be a reason why. They pulled it before they got reject or notice of it being rejects otherwise they would have to release that info so i think (pray) there is some positive reason why and that starts a short squeeze. Would they have to release news of a partnership at the same time or could they do it tonight or tomorrow?
This just doesnt add up.. I cant believe that it was randonly pulled. And if it was due to a rejection we would have to be told as it it material.