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

ed in Arena's filings with the Securities and Exchange Commission. These forward-looking statements represent Arena's judgment as of the time of this release. Arena disclaims any intent or obligation to update these forward-looking statements, other than as may be required under applicable law.

Arena Pharmaceuticals, Inc.

Condensed Consolidated Statements of Operations

(In thousands, except per share amounts)

Three months ended Year ended

December 31, December 31,

2007 2006 2007 2006

(unaudited) (Note)

Revenues

Total revenues $4,569 $4,699 $19,332 $30,569

Expenses

Research and development 40,690 38,095 149,524 103,388

General and administrative 6,923 5,228 26,571 18,466

Amortization of acquired

technology 384 384 1,537 1,537

Total expenses 47,997 43,707 177,632 123,391

Interest and other income, net 3,042 3,119 15,134 6,574

Net loss (40,386) (35,889) (143,166) (86,248)

Dividends on redeemable

convertible preferred stock (540) (520) (2,114) (2,031)

Net loss allocable to common

stockholders $(40,926) $(36,409) $(145,280) $(88,279)

Net loss per share allocable

to common stockholders,

basic and diluted $(0.60) $(0.73) $(2.31) $(1.89)

Shares used in calculating

net loss per share allocable

to common stockholders, basic

and diluted 68,409 50,108 62,783 46,751

Note: The Condensed Consoli
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SOURCE Arena Pharmaceuticals, Inc.
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