ARTICLE | Financial News

Arena trimmed after panel vote

September 18, 2010 12:17 AM UTC

Arena Pharmaceuticals Inc. (NASDAQ:ARNA) fell $1.76 (47%) to $1.99 on Friday after an FDA panel voted 9-5 on Thursday that the benefit-risk profile of lorcaserin does not support approval to treat obesity. The majority of panelists felt that lorcaserin's efficacy was modest and did not outweigh the potential safety risks. The PDUFA date for the serotonin (5-HT2C) receptor agonist is Oct. 22. ...