Arena Pharmaceuticals announced today (9/17/2009) that they will release their second trial data from the BLOSSOM study (Arena Pharma Phase III results) of their anti-obesity drug, Locaserin on Friday. Will the results of the ARNA Phase III be a positive and stay in the race with their top competitors; OREX and VVUS or will it be an inconclusive results and receive similar fate as their first data result back in 3/30/09? There have been huge anticipation for ARNA Phase III results since their lack luster prelim phase III, since then their share have soar 10%. Currently, there are two views of speculators in play on ARN BLOSSOM results; some analysts speculate that the results will be significance and with buy rating at $11 and anticipate ARNA high safety number and will receive FDA approval. In the other view, Rodman & Renshaw downgraded Arena to market perform from market outperform, with no price target. With analysts speculate ARNA's Locasarin if approved still not be doctor's first choice in treatment and rather prefer VVUS's Qnexa or Orexigen's Contrave as monotherapy drug.
All speculations will soon put to rest, and the best part, we don't have to wait for days, just 24 hrs. Arena pharma price soar 35% with 3.3millions in volume after market trading in anticipation of the news. Will the news be repeated like the last time or will the news set a standard for the new anti-obesity treatment therapy? Only time will tell.
tag: ARNA, VVUS, OREX
Posts
Its hard to prdict a outcome.
ReplyDelete