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Arena Pharmaceuticals Provides Corporate Update and Reports Third Quarter 2012 Financial Results
Date:11/6/2012

ight loss or weight management in obese and overweight patients, subject to regulatory approval of BELVIQ by the Korea Food and Drug Administration.
  • Submitted its response to the European Medicines Agency's Committee for Medicinal Products for Human Use's 120-day assessment report and list of questions regarding the MAA for the marketing of BELVIQ in the European Union.
  • Initiated dosing in a Phase 1 multiple-dose clinical trial of APD811, a novel drug candidate that targets the prostacyclin (IP) receptor for the treatment of PAH. This randomized, double-blind and placebo-controlled dose titration trial is evaluating the safety, tolerability, pharmacokinetics and optimal titration schedule of multiple-ascending doses of APD811. Arena previously evaluated single-ascending doses of APD811 in the initial Phase 1 clinical trial.
  • Third Quarter 2012 Financial ResultsArena recorded revenues totaling $1.5 million in the third quarter of 2012, compared to $3.5 million in the third quarter of 2011, and $25.7 million in the nine months ended September 30, 2012, compared to $10.6 million in the nine months ended September 30, 2011. The revenue increase in the nine months ended September 30, 2012, was primarily due to the $20.0 million milestone payment from Eisai for the inclusion in the FDA-approved prescribing information for BELVIQ of the efficacy and safety data from the Phase 3 BLOOM-DM (Behavioral modification and Lorcaserin for Overweight and Obesity Management in Diabetes Mellitus) clinical trial in patients with type 2 diabetes.

    Research and development expenses continued to decline in the third quarter of 2012, decreasing to $11.6 million as compared to $15.0 million in the third quarter of 2011. Research and development expenses in the nine months ended September 30, 2012, declined to $40.2 million from $45.6 million in the nine months ended September 30, 2011, primarily due to decreased salary and other personnel costs. General
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