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Arena Pharmaceuticals Provides Corporate Update and Reports First Quarter 2013 Financial Results
Date:5/2/2013

irst quarter of 2012. General and administrative expenses in the first quarter of 2013 increased to $7.3 million, compared to $6.4 million in the first quarter of 2012, primarily due to increases in salaries, patent fees and auditing fees.

Total interest and other income of $2.1 million was recognized in the first quarter of 2013, compared to an expense of $7.0 million in the first quarter of 2012. This difference is primarily attributable to a $6.2 million increase in the value of derivative liabilities, a reduction of $1.7 million from the non-cash loss on extinguishment of debt recorded in the first quarter of 2012 and a $1.2 million reduction in interest expense due to repayment of Arena's formerly outstanding loan. Arena's net loss allocable to common stockholders in the first quarter of 2013 was $18.9 million, or $0.09 per share, compared to $29.4 million, or $0.18 per share, in the first quarter of 2012.

At March 31, 2013, cash and cash equivalents totaled $136.3 million and approximately 217.7 million shares of common stock were outstanding.

Scheduled Conference Call and WebcastArena will host a conference call and webcast to provide a corporate update and report first quarter 2013 financial results today at 5:15 p.m. Eastern Time (2:15 p.m. Pacific Time). 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' First Quarter 2013 Financial Results 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 necessary.

Upcoming Conference ParticipationArena is
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SOURCE Arena Pharmaceuticals, Inc.
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