That is why I questioned giving Eisai the rest of the world for pennies on the dollar long ago. They were doing a horribly slow job rolling us out and their cash flow was crashing fast putting them in penny pinching mode. Shoe string budgets are not what you want rolling out a new and novel drug.
But that is on Arena management for using them as a scape goat.
Lets see if enough shareholders vote to send a message that they are on a very very short rope... They can no longer afford to bury their heads in the sand and hope and pray that Eisai can do their jobs. They need to demand they do their jobs.
They did their jobs well. 12,770 scripts in just over 1 month. that is great for the first month.. That is not initial stocking that number is actual scripts sold.... Much better then I thought....
Arena and Roivant Sciences Ltd. entered into a Development, Marketing and Supply Agreement for nelotanserin, Arena's internally discovered inverse agonist of the serotonin 2A receptor. The agreement grants Roivant exclusive worldwide rights to develop and commercialize nelotanserin, subject to regulatory approval. Arena will receive a $4.0 million upfront payment and is eligible to receive regulatory and development milestone payments, a portion of net sales and other payments.
More money coming in and a new partnership... Love it.
BELVIQ was approved for marketing for weight management in South Korea, and Ildong commenced marketing in late February 2015. In connection with the approval, Arena received a milestone payment of $3.0 million from Ildong.
From launch through March 31, patients filled prescriptions totaling 766,350 tablets, which equates to approximately 12,770 one-month prescriptions. Arena recorded $2.2 million net South Korea product sales for BELVIQ during the first quarter of 2015.
I was waiting to see this next earnings report. Trying to get an idea of what the new burn rate is. I think they will have to raise capital again. However, if that raise is farther out rather then closer in, a good mid point report could bounce us up significantly before the bad news of a capital raise. So play the pop and double up on the pull back from the raise. At least that would be my plan.
Has not happened.... Eisai is full of you know what and Arena has their heads in the sand.. Very pleased with their partners progress, at least publicly ..
An increase of 302 commercials since the last report 15 days ago. That is an average of 20 a day, I still don't see this attempt to market directly to the consumers...
National Airings 12,350
Spot Spend Rank 697
Spend Rank: 595
Airing Rank: 675
I did, I posted that a while back that the results might be met with the same movement as the last PR about the pipeline. Was not expecting to be so brief and the potential for the pain drug is huge.