(Source: Datamonitor)

Arena Pharmaceuticals has reported a net loss allocable to common stockholders of $38 million, or $0.48 per share, for the second quarter ended June 30, 2009, compared to a net loss allocable to common stockholders of $65.8 million, or $0.89 per share, in the second quarter of 2008.
For the second quarter of 2009, total revenues were $2.43 million, compared to $2.64 million in the second quarter of 2008.
For the first six months ended June 30, 2009, net loss allocable to common stockholders was $88.6 million, or $1.16 per share, compared to a net loss of $120.8 million, or $1.64 per share, in the first half of 2008. Total revenues were $5.09 million, compared to $5.25 million in the same period of 2008.
Jack Lief, president and CEO of Arena Pharmaceuticals, said: "We are on track to announce results from the blossom trial in September, which we expect will be the final piece of lorcaserin's new drug application that we plan to submit by the end of this year.
"Based on its emerging efficacy, safety and tolerability profile, lorcaserin has the potential to be an important new treatment option for patients needing to better manage their weight and improve their overall health. Our improved financial position strengthens our ability to obtain marketing approval for lorcaserin and our position in partnership discussions."
A service of YellowBrix, Inc.