Arena planning follow-on after panel backs lorcaserin

Arena Pharmaceuticals Inc. (NASDAQ:ARNA) said late Tuesday it is planning a follow-on underwritten by Jefferies; Piper Jaffray; and BMO Capital Markets. On Thursday, 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 (see BioCentury, May 14). ...