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Arena Pharmaceuticals Announces Third Quarter 2010 Financial Results and Reviews Recent Developments
Date:11/9/2010

ons in post-meal glucose increases with APD597 alone and in combination with sitagliptin, a DPP-4 inhibitor.
  • Announced results from a Phase 1 clinical trial of APD916, a novel drug candidate Arena discovered that targets the histamine H3 receptor for the treatment of narcolepsy with cataplexy. In this randomized, double-blind, placebo-controlled trial in 24 healthy volunteers, APD916 demonstrated dose-proportional pharmacokinetic exposure over the tested dose range.
  • Received gross proceeds of approximately $60.0 million from the sale of 8,955,224 shares of its common stock to certain Deerfield entities at a price of $6.70 per share. As part of the transaction, Arena amended its June 2009 Facility Agreement with Deerfield pursuant to which $30.0 million of the proceeds from this transaction was used to prepay the portion of the principal amount that Arena otherwise would have been required to repay in July 2012.

  • Conference Call & Webcast Arena will host both a conference call and webcast to discuss top-line results from the BLOOM-DM trial and third quarter 2010 financial results today, November 9, 2010, at 8:30 a.m. Eastern Time (5:30 a.m. Pacific Time). Jack Lief, President and Chief Executive Officer, and Robert E. Hoffman, Vice President, Finance and Chief Financial Officer, will host the conference call.

    The conference call may be accessed by dialing 877.643.7155 for domestic callers and 914.495.8552 for international callers. Please specify to the operator that you would like to join the "Arena Pharmaceuticals' Third Quarter 2010" conference call. The conference call will be webcast live under the investor relations section of Arena's website at www.arenapharm.com, and will be archived there for 30 days following the call. Please connect to Arena's website several minutes prior to the start of the broadcast to ensure adequate time for any software download that may be neces
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