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Arena Pharmaceuticals Announces Third Quarter 2008 Financial Results
Date:10/30/2008

tements are disclosed 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.

Contacts: Jack Lief

President and CEO

David Walsey

Director, Corporate Communications

Arena Pharmaceuticals, Inc.

858.453.7200, ext. 1682

Mary Claire Duch

WeissComm Partners

Media Relations

212.301.7228

Arena Pharmaceuticals, Inc.

Condensed Consolidated Statements of Operations

(In thousands, except per share amounts)

Three months ended Nine months ended

September 30, September 30,

2008 2007 2008 2007

(unaudited) (unaudited)

Revenues

Manufacturing services $1,442 $-- $5,461 $--

Collaborative agreements 415 5,041 1,650 14,763

Total revenues 1,857 5,041 7,111 14,763

Operating Expenses

Cost of manufacturing services 1,743 -- 6,362 --

Research and development 47,670 32,219 151,645 108,834

General and administrative 5,924 7,885 21,938 19,648

Amortization of acquired

technology 385 385 1,153 1,153

Total operating expenses 55,722 40,489 181,098 129,635

Interest and other income

(expense), net (1,762) 3,170
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SOURCE Arena Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
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