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Arena Pharmaceuticals Announces Fourth Quarter and Full Year 2010 Financial Results and Reviews Recent Developments
Date:3/11/2011

nsolidated Statements of Operations (In thousands, except per share amounts)Three months endedYear endedDecember 31,December 31,2010200920102009(unaudited)(Note)RevenuesManufacturing services

$  1,799$  1,916$  7,057$  6,579Collaborative agreements

2,2137669,5563,808  Total revenues

4,0122,68216,61310,387Operating ExpensesCost of manufacturing services

2,1051,8347,4146,536Research and development

16,48821,18775,459110,159General and administrative

7,3006,52227,93625,247Restructuring charges

———3,324Amortization of acquired technology & other intangibles

5501,7872,1593,508  Total operating expenses

26,44331,330112,968148,774Interest and Other Income (Expense)Interest income

131398469689Interest expense

(5,483)(7,727)(21,681)(18,718)Gain (Loss) from valuation of derivative liabilities

(486)5,0734,3715,418Loss on extinguishment of debt

——(12,354)(2,479)Other

281,1321,016273  Total interest and other expense, net

(5,810)(1,124)(28,179)(14,817)Net loss

$(28,241)$(29,772)$(124,534)$(153,204)Net loss per share, basic & diluted

$(0.23)$(0.32)$(1.14)$(1.82)Shares used in calculating net loss per share, basic & diluted

121,41592,719109,57384,341Note: The Condensed Consolidated Statements of Operations has been derived from the audited financial statements for the year ended December 31, 2009 and from the unaudited financial statements for the year ended December 31, 2010.Arena Pharmaceuticals, Inc.Condensed Consolidated Balance Sheet Data(In thousands)December 31, 2010December 31, 2009**Assets  Cash, cash equivalents & short-term investments

$ 150,669$ 115,449  Accounts receivable

3,4991,415  Other current assets

2,6384,409  Land, property & equipment, net

91,53395,445 &#
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SOURCE Arena Pharmaceuticals, Inc.
Copyright©2010 PR Newswire.
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