Arena Pharmaceuticals

{{Infobox company

| name = Arena Pharmaceuticals, Inc.

| logo = Arena_Pharmaceuticals_logo.svg

| type = Subsidiary

| traded_as = {{NASDAQ was|ARNA}}

| founded = {{start date and age|1997}}

| founders = {{ubl|Jack Lief|Dominic Behan}}

| key_people = {{ubl|Dominic Behan (senior scientist)|Amit Munshi (CEO)|Kevin Lind (CFO)}}

| industry = Biotechnology

| products = Belviq

| revenue = {{profit}}{{currency|27.6M}} (FY 2012)

| operating_income = {{loss}}{{currency|-57M}} (FY 2012)

| net_income = {{loss}}{{currency|-85.5M}} (FY 2012)

| assets = {{increase}}{{currency|261M}} (FY 2012)

| equity = {{increase}}{{currency|98.6M}} (FY 2012)

| num_employees =

| parent = Pfizer

| slogan =

| location_city = San Diego, California

| location_country = U.S.

| market cap =

| homepage = {{URL|arenapharm.com}}

}}

Arena Pharmaceuticals, Inc. is an American biopharmaceutical company founded in 1997 and headquartered in San Diego, California.{{cite web |url=http://www3.bio.org/biochina-profiles/pdfs/1552.pdf |title=Arena Pharmaceutical, Inc. |access-date=November 16, 2016 |archive-url=https://web.archive.org/web/20161116230016/http://www3.bio.org/biochina-profiles/pdfs/1552.pdf |archive-date=November 16, 2016 |url-status=dead }} The company has small molecule drugs in development for possible clinical utility in multiple therapeutic areas. The company's most advanced investigational clinical programs are ralinepag (formerly APD811) in testing for pulmonary arterial hypertension (PAH), etrasimod (formerly APD334) in evaluation for inflammatory indications and APD371 for the treatment of pain associated with Crohn's disease.{{Cite web|url=https://www.sec.gov/Archives/edgar/data/1080709/000156459017004354/arna-10k_20161231.htm|title=arna-10k_20161231.htm|website=www.sec.gov|access-date=2017-04-26}} In 2016, the company downsized and shifted its focus to developing new drugs currently being tested in clinical trials.{{cite news|url=http://www.sdbj.com/news/2016/jul/04/arena-pharmaceuticals-slashing-its-workforce-73/|title=Arena Pharmaceuticals Is Slashing Its Workforce 73%|last=Meiling|first=Brittany|date=July 4, 2016|work=San Diego Business Journal|access-date=5 July 2016}}{{Cite journal|last=|date=August 2016|title=Arena Axing 100 Employees, 73% of Workforce|url=http://www.genengnews.com/gen-news-highlights/arena-pharmaceuticals-axing-100-employees-73-of-workforce/81252903/|department=News: Industry Watch (online: GEN News Highlights)|journal=Genetic Engineering & Biotechnology News|volume=36|issue=14|page=10|access-date=17 September 2016}} In December 2021, Pfizer announced that it had agreed to acquire Arena for $6.7 billion in cash.{{cite web|title=Pfizer bets on Arena's promising bowel disease treatment in $6.7 bln deal|url=https://www.reuters.com/markets/deals/pfizer-acquire-arena-pharmaceuticals-67-bln-deal-2021-12-13|work=Reuters|date=December 13, 2021|access-date=December 13, 2021}}{{cite web|title=Pfizer to Acquire Arena Pharmaceuticals in $6.7 Billion Deal|url=https://www.wsj.com/articles/pfizer-to-acquire-arena-pharmaceuticals-in-6-7-billion-deal-11639414813|work=Wall Street Journal|last=Walker|first=Joseph|date=December 13, 2021|access-date=December 13, 2021}} In March 2022, it was announced the acquisition by Pfizer had been concluded.{{Cite web |date=2022-03-14 |title=Pfizer concludes Arena Pharmaceuticals acquisition for $6.7bn |url=https://www.pharmaceutical-technology.com/news/pfizer-arena-pharmaceuticals-acquisition/ |access-date=2022-03-14 |website=Pharmaceutical Technology |language=en-US}}

History

Arena Pharmaceuticals Inc. is an American biopharmaceutical company founded in 1997 and headquartered in San Diego, California. Arena focused on discovering drugs that act on G protein-coupled receptors (GPCRs). The company developed technology it called Constitutively Activated Receptor Technology (CART) that identified drug leads targeting GPCRs and other classes of receptors. CART was used to identify drug leads able to act as receptor inhibitors to decrease a biological response or act as receptor activators to increase a biological response.{{Cite web|url=http://secfilings.nasdaq.com/filingFrameset.asp?FilingID=827520&RcvdDate=6/5/2001&CoName=ARENA%20PHARMACEUTICALS%20INC&FormType=S-1&View=html|title=NASDAQ {{!}} SEC Filing|website=secfilings.nasdaq.com|access-date=2017-05-25}}

In January 2000, Arena entered into a collaborative agreement with Fujisawa Pharmaceutical Co. Ltd. to validate up to 13 drug targets.
In April 2000, Arena entered into a research collaboration with Eli Lilly and Company focused on the endocrine and central nervous systems.
In May 2000, Arena entered into a research collaboration with Taisho Pharmaceutical Co. focused on several GPCRs selected by Taisho in therapeutic areas of interest.

Products

The company has one drug on the market, Belviq (lorcaserin), a weight-loss medication. The U.S. Food and Drug Administration (FDA) approved lorcaserin on June 27, 2012. The company committed to a sales force commitment of 200.{{Cite press release|title = FDA approves Belviq to treat some overweight or obese adults|date = June 27, 2012|publisher = US FDA|url = https://www.fda.gov/NewsEvents/Newsroom/PressAnnouncements/ucm309993.htm|access-date = January 3, 2014}} Lorcaserin is approved for use in adults with a body mass index (BMI) of 30 or greater, which is considered obese, or adults with a BMI of 27 or greater and who have at least one weight-related health condition, such as high blood pressure, type 2 diabetes, or high cholesterol. However, sales of Belviq were disappointing. In 2015, the company laid off 80 workers; this was followed in July 2016 by the layoff of another 100 employees (approximately 73% of remaining workforce). In January 2017, Arena announced that it is selling Belviq to its Japanese partner, Eisai Co. Ltd., which will manufacture and market the drug; Arena will draw a royalty on global sales.{{cite news|url=http://www.sdbj.com/news/2017/jan/04/arena-pharmaceuticals-bails-its-weight-loss-drug/|title=Arena Pharmaceuticals Bails on Its Weight-Loss Drug|last=Meiling|first=Brittany|date=January 4, 2017|work=San Diego Business Journal|access-date=5 January 2017}}

The sale completes a pivot in emphasis toward drugs still under development. Drugs in the company's pipeline includes medications designed to treat pain, ulcerative colitis and pulmonary arterial hypertension. {{As of|2014|September}}, potential products that had not yet been approved by the FDA included Temanogrel (thrombotic diseases), Ralinepag (pulmonary arterial hypertension), APD334 (autoimmune disease), APD371 (pain), and Nelotanserin.{{cite web|url=http://www.arenapharm.com/|title=Arena Pharmaceuticals|website=Arena Pharmaceuticals}}

In 2018, Arena's etrasimod, a drug directed at treating ulcerative colitis (and a competitor with ozanimod from Celgene{{cite web|title=Arena Investors Need To Pay Attention To Celgene And Ozanimod|url=https://seekingalpha.com/article/4168362-arena-investors-need-pay-attention-celgene-ozanimod|first1=Spencer|last1=Osborne|publisher=Seeking Alpha|access-date=3 July 2018|date=2 May 2018}}), passed phase II clinical trials successfully and moved on to phase III.{{cite web|url=https://www.fiercebiotech.com/biotech/midstage-success-prompts-arena-to-push-bowel-disease-drug-etrasimod-into-phase-3|first1=Amirah|last1=Al Idrus|title=Midstage success prompts Arena to push bowel disease drug etrasimod into phase 3|date=19 May 2018|access-date=3 July 2018}}

References

{{reflist|33em|refs=

[https://web.archive.org/web/20120506001421/http://www.wikinvest.com/stock/Arena_Pharmaceuticals_(ARNA)/Data/Balance_Sheet Arena Pharmaceuticals (ARNA) annual SEC balance sheet filing via Wikinvest.]

[https://web.archive.org/web/20120506001911/http://www.wikinvest.com/stock/Arena_Pharmaceuticals_(ARNA)/Data/Income_Statement Arena Pharmaceuticals (ARNA) annual SEC income statement filing via Wikinvest.]

}}