FDA-defined valvulopathy in patients treated with lorcaserin and in
the control group did not meet predetermined stopping criteria. The
review also confirmed that the rate of FDA-defined valvulopathy in the
placebo group is consistent with Arena's statistical powering
assumptions used in the design of the pivotal trial program to monitor
patients for any increased risk of developing valvulopathy.
-- Completed the sale to an affiliate of BioMed Realty Trust, Inc., or
BioMed, of three properties owned and occupied by Arena and the
assignment to BioMed of an option to purchase a fourth property
currently leased and primarily occupied by Arena. Arena received net
proceeds of $48.5 million for the properties and the purchase option.
Concurrently with the closing of the transaction, Arena leased back
the three properties sold to BioMed under leases with 20-year terms
and two consecutive options to extend such terms for five years each.
As part of the transaction, Arena also retained the option to purchase
from BioMed all the properties included in the transaction on the
10th, 15th or 20th anniversary of the execution date of the leases.
-- Completed patient enrollment in the BLOOM trial, a double-blind,
randomized and placebo-controlled trial that enrolled over
3,100 patients at approximately 100 sites in the United States.
Arena's 2008 Highlights to Date
-- Announced the initiation of a Phase 1 clinical trial of a second
generation oral niacin receptor agonist intended for the treatment of
atherosclerosis under Arena's partnership with Merck.
-- Entered into strategic cooperation agreements with Siegfried Ltd that
are primarily related to the manufacturing of lorcaserin, which is
expected to be necessary for Arena'
|SOURCE Arena Pharmaceuticals, Inc.|
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