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Arena Pharmaceuticals Provides Corporate Update and Reports First Quarter 2013 Financial Results

ay not proceed at the time or in the manner expected or at all; having adequate funds; and satisfactory resolution of 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. Contact: Arena Pharmaceuticals, Inc.Media Contact: Russo PartnersCindy McGee, Vice President,

David Schull, PresidentInvestor Relations & Alliance  

858.717.2310858.453.7200, ext. 1479  Arena Pharmaceuticals, Inc.Condensed Consolidated Statements of Operations(In thousands, except per share amounts)Three months ended

March 31,20132012(unaudited)RevenuesManufacturing services

$  765$  1,292Collaborative agreements

1,608897  Total revenues

2,3732,189Operating ExpensesCost of manufacturing services

1,645791Cost of products sold

4730Research & development

14,00814,470General & administrative

7,2516,355Amortization of acquired technology & other intangibles

0176  Total operating expenses

23,37721,792Interest & Other Income (Expense)Interest income

2415Interest expense

(1,787)(3,031)Gain (Loss) from valuation of derivative liabilities

3,859(2,375)Loss on extinguishment of debt


3287  Total interest & other income (expense), net

2,128(6,974)Net loss

(18,876)(26,577)Deemed div

SOURCE Arena Pharmaceuticals, Inc.
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