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Analyst: Data Underwhelming

Arena Hits Endpoints in Phase III Obesity Trial, but Stock Drops

By Trista Morrison

Tuesday, March 31, 2009
Arena Pharmaceuticals Inc.'s first Phase III trial of obesity drug lorcaserin met all three of its co-primary endpoints, yet the company's shares fell 28 percent on Monday as investors questioned whether the data will be strong enough to secure a partnership and relieve Arena's cash concerns. (BioWorld Today)

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