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Arena Weight Loss Drug Under FDA Review

From Associated Press (February 24, 2010)

SAN DIEGO -- Federal regulators are reviewing Arena Pharmaceuticals’ application for a weight-loss drug, the biotechnology company said Wednesday.

The company said it does not have a target date for completion of the Food and Drug Administration review.

The drug Lorcaserin is part of a group of weight-loss drugs that could reach the market around the same time.

Vivus Inc., based in Mountain View, Calif., already asked the FDA to approve its obesity drug candidate Qnexa. Orexigen Therapeutics Inc., based in La Jolla, Calif., expects to file its application for Contrave in 2010.

Shares of Arena Pharmaceuticals Inc. rose 12 cents, or 3.7 percent, to $3.35 in morning trading. The stock has traded between $2.26 and $5.93 over the last 52 weeks.

Posted: February 2010