Arena Pharmaceuticals Announces First Quarter 2008 Financi...(84 384 Total operati...)

Total operating expenses 59,140 41,062

Interest and other income, net 2,066 4,256

Net loss (54,465) (31,895)

Dividends on redeemable convertible

preferred stock (540) (514)

Net loss allocable to common

stockholders $(55,005) $(32,409)

Net loss per share allocable to common

stockholders, basic and diluted $(0.75) $(0.53)

Shares used in calculating net loss per

share allocable to common stockholders,

basic and diluted 73,605 60,734

Arena Pharmaceuticals, Inc.

Condensed Consolidated Balance Sheet Data

(In thousands)

March 31, 2008 December 31, 2007

(unaudited) (Note)

Assets

Cash, cash equivalents and

short-term investments $333,636 $398,185

Accounts receivable 2,398 1,901

Other current assets 8,938 9,162

Land, property and equipment, net 92,704 65,940

Acquired technology and other

non-current assets 26,857 12,318

Total assets $464,533 $487,506

Liabilities and Stockholders' Equity

Accounts payable, accrued expenses

and accrued compensation $38,345 $30,058

Total deferred revenues 4,049 4,049

Total lease financing obligations

and other long-term liabilities 72,067 63,100

Redeemable convertible pref
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