Arena soars on lorcaserin vote

Arena Pharmaceuticals Inc. (NASDAQ:ARNA) jumped $2.70 (74%) to $6.36 on Friday after an FDA advisory committee voted 18-4, with one abstention, that the benefit-risk profile for Arena's lorcaserin supports approval to treat obesity. The PDUFA date for the serotonin (5-HT2C) receptor agonist is June 27. The stock move represents an increase in market cap of $492.8 million. Arena's market cap is now $1.2 billion (see BioCentury Extra, May 10). ...