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

(1,373) 12,092

Net loss (55,627) (32,278) (175,360) (102,780)

Dividends on redeemable

convertible preferred stock (557) (535) (1,644) (1,574)

Net loss allocable to common

stockholders $(56,184) $(32,813) $(177,004) $(104,354)

Net loss per share allocable

to common stockholders,

basic and diluted $(0.76) $(0.54) $(2.40) $(1.71)

Shares used in calculating

net loss per share allocable

to common stockholders,

basic and diluted 73,923 61,007 73,782 60,887

Arena Pharmaceuticals, Inc.

Condensed Consolidated Balance Sheet Data

(In thousands)

September 30, December 31,

2008 2007

(unaudited) (Note)

Assets

Cash, cash equivalents and short-term

investments $212,123 $398,185

Accounts receivable 1,588 1,901

Other current assets 5,545 9,162

Land, property and equipment, net 98,931 65,940

Acquired technology and other non-current

assets 21,912 12,318

Total assets $340,099 $487,506

Liabilities and Stockholders' Equity

Accounts payable, accrued expenses and

accrued compensation $31,952 $30,058

Total deferred revenues 4,049 4,049

Total lease financing obligations and

other long-term liabilities 71,969 63,100

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SOURCE Arena Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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