BioCentury
ARTICLE | Finance

Fattening up the obesity arena

Arena adds $60.5 million, bringing fundraising by obesity trio to $2.2 billion

May 21, 2012 7:00 AM UTC

Investors in last week's $60.5 million follow-on for Arena Pharmaceuticals Inc. (NASDAQ:ARNA) could see their bet play out in short order as the obesity play has a June 27 PDUFA date for lorcaserin.

Arena sold 11 million shares at $5.50 in the follow-on, which was underwritten by Jefferies; Piper Jaffray; and BMO Capital Markets...