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Arena Pharmaceuticals Announces Fourth Quarter and Full Year 2007 Financial Results
Date:2/27/2008

outstanding at December 31, 2007.

Arena's 2007 Highlights

-- Initiated BLOSSOM and BLOOM-DM, the second and third Phase 3 pivotal

trials evaluating the efficacy and safety of Arena's lead drug

candidate, lorcaserin hydrochloride, or lorcaserin, for the treatment

of obesity. These one-year, double-blind, randomized and

placebo-controlled trials are expected to collectively enroll

approximately 3,750 overweight and obese patients. Consistent with

Arena's proposal, the US Food and Drug Administration, or FDA, has

allowed Arena to eliminate the requirement to perform

echocardiographic testing prior to enrolling patients in both BLOSSOM

and BLOOM-DM. This is different from the design of BLOOM, the initial

lorcaserin pivotal study, in which echocardiography was used to screen

for patients with FDA-defined valvulopathy, and certain other

echocardiographic abnormalities, and exclude those patients from

enrolling in the trial.

-- Completed a public offering of 11.0 million shares of common stock at

$9.91 per share, resulting in net proceeds to Arena of approximately

$103.2 million.

-- Announced positive preliminary results from Arena's Phase 2a clinical

trial of APD125 in patients with chronic insomnia. In this Phase 2a

clinical trial, APD125 significantly improved endpoints measuring

improvements in sleep maintenance with no observations of next day

cognitive impairment.

-- Reported that an independent Echocardiographic Safety Monitoring Board

found no reason to stop the ongoing pivotal Phase 3 lorcaserin BLOOM

trial following a planned review of unblinded echocardiograms

performed after patients completed six months of dosing in the trial.

The review confirmed that differences, if any, in the rates of
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SOURCE Arena Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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