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Arena Pharmaceuticals Announces Fourth Quarter and Full Year 2011 Financial Results and Reviews Recent Developments
Date:3/14/2012

cost of Arena's research and development programs; results of clinical trials and other studies are subject to different interpretations and may not be predictive of future results; clinical trials and other studies may not proceed at the time or in the manner expected or at all; having adequate funds; risks related to relying on collaborative agreements; the timing and receipt of payments and fees, if any, from collaborators; and satisfactory resolution of pending and any future litigation or other disagreements with others. Additional factors that could cause actual results to differ materially from those stated or implied by Arena's forward-looking statements 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.Arena Pharmaceuticals, Inc.Condensed Consolidated Statements of Operations (In thousands, except per share amounts)Three months endedYear endedDecember 31,December 31,2011201020112010(unaudited)(Note)RevenuesManufacturing services

$  948$  1,799$  5,338$  7,057Collaborative agreements

1,1282,2137,3819,556  Total revenues

2,0764,01212,71916,613Operating ExpensesCost of manufacturing services

1,8852,1058,1007,414Research and development

13,09016,48858,70675,459General and administrative

5,2527,30024,24827,936Restructuring charges

003,4670Amortization of acquired technology & other intangibles

1785509972,159  Total operating expenses

20,40526,44395,518112,968Interest and Other Income (Expense)Interest income

15131117469Interest expense

(3,222)(5,483)(14,309)(21,681)Gain (Loss) from valuation of derivative liabilities

(340)(486)474,371Loss on extinguishment of debt

00(10,514)(12,354)Other
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SOURCE Arena Pharmaceuticals, Inc.
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