Arena gastrointestinal, cardiovascular, neurology news
Arena will reduce U.S. headcount by about 100 (73%) to about 37 to reduce costs and focus on its clinical-stage pipeline. The cuts will primarily come from research, manufacturing and G&A areas. Arena expects the headcount reduction, which is slated to complete by Aug. 31, to reduce annual personnel expenses by about $17 million and other annual operating expenses by $6-$8 million. The cuts represent a 44% reduction in total employees; at Feb. 24, Arena said it had 228 employees. The company said it is planning additional reductions at its Swiss manufacturing facility.
Arena will focus on its clinical programs, including etrasimod ( APD334), ralinepag ( APD811) and APD371. Etrasimod, a sphingosine 1-phosphate receptor 1 ( S1PR1; S1P1; EDG1) agonist, is in Phase II testing for ulcerative colitis (UC); ralinepag, a prostacyclin (IP) receptor (PGI2) agonist, is in Phase II testing for peripheral arterial hypertension (PAH); and APD371, a cannabinoid CB2 receptor (CNR2) agonist, has completed a multiple-ascending dose Phase I trial for pain. ...