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12:00 AM
 | 
Jan 03, 2011
 |  BioCentury  |  Analyst Picks & Changes

Analyst picks & changes

Analyst picks & changes

Company Bank Analyst Coverage Opinion Wk chg 12/31 cls
Arena Pharmaceuticals Inc. (NASDAQ:ARNA) Summer Street Carol Werther Upgrade Neutral (from sell) -1% $1.72
Werther upgraded after Arena announced plans to resubmit an NDA for obesity candidate lorcaserin by the end of 2011. The company made the announcement after meeting with FDA to discuss issues outlined in an October complete response letter, including mammary tumors and brain astrocytomas seen in rats (see B12). Werther anticipates Arena will launch locareserin in the U.S. in 2013, but expects the company will need to raise cash prior to approval. Eisai Co. Ltd. (Tokyo:4523; Osaka:4523) has rights to market the serotonin (5-HT2C) receptor agonist in the U.S. Arena was...

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