4:26 PM
Nov 15, 2018
 |  BC Extra  |  Company News

Arena licenses ralinepag to United, moves S1PR1 agonist to center stage

United Therapeutics Corp. (NASDAQ:UTHR) licensed exclusive, worldwide rights to pulmonary arterial hypertension compound ralinepag from Arena Pharmaceuticals Inc. (NASDAQ:ARNA) on Thursday in a deal that highlights how far Arena’s come since it shifted its focus away from obesity three years ago.

Arena received $800 million up front and is eligible to receive $400 million in regulatory milestones, plus low double-digit tiered royalties. The deal sent Arena's shares up $7.03 (22%) to $39.55 for a market cap gain of $347.3 million. United gained $5.34 to $116.31.

Ralinepag, which is in the Phase III ADVANCE trial to...

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