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Arena Pharmaceuticals: Q3 Earnings Insights

Benzinga Insights
·1 min read

Shares of Arena Pharmaceuticals (NASDAQ:ARNA) decreased 19.4% in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share fell 15.75% over the past year to ($1.69), which beat the estimate of ($1.87).

Revenue of $20,000 decreased by 98.52% from the same period last year, which missed the estimate of $1,230,000.

Looking Ahead

Arena Pharmaceuticals hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Details Of The Call

Date: Nov 09, 2020

View more earnings on ARNA

Time: 04:30 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/2hjtyigg

Recent Stock Performance

52-week high: $90.19

52-week low: $32.95

Price action over last quarter: Up 8.00%

Company Description

Arena Pharmaceuticals is a biotechnology company targeting G-protein-coupled receptors. The company has one internally discovered drug, lorcaserin, which has been approved and is marketed in the U.S. and South Korea to target weight management. It is commercialized under the brand name Belviq. The company is collaborating with Eisai to market Belviq in other countries. It has a presence in Europe through its Swiss subsidiary, Arena GmbH. The company's pipeline contains drugs targeting autoimmune diseases, vascular diseases, thrombotic diseases, dementia-associated psychosis, nervous system issues, and pain.

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