(Source: Business Wire)
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Arena Pharmaceuticals Inc. (NASDAQ: ARNA), $4.49, +$0.17, 4.92%,
is enjoying a healthy price increase and a surge in shares traded into
the afternoon. The company stands at an increase of $0.21 and the most
substantial volume gain since the end of September. ARNA, responsible
for developing and commercializing oral medication, with a focus on four
therapeutic areas: cardiovascular, central nervous system, inflammatory
and metabolic diseases, reported that data collected from its Phase III
trial with its lead drug candidate, LorcaserinHydrocholride,
intended for treatment of obesity, returned positive results and was
shown to significantly increase weight loss, improved markers of
cardiovascular risk and glycemic parameters. It was not linked to
depression or suicidal thoughts. This new data is being presented at the 27th
Annual Scientific Meeting of the Obese Society.
Marvell Technology Group Ltd. (NASDAQ: MRVL), $14.99, +$0.41, 2.81%,a
leading developer of storage, communications and consumer silicon
solutions, has released an update on its third quarter outlook for
fiscal 2010, ending October 31, 2009. As it stands, the company projects
a net revenue for Q3 2010 to increase to $760 -$775 million. This is an
increase of 19 to 21 percent from net revenue of $641 million as
reported for the Q2 2010, ended August 1, 2009. It previously projected
the Q3 2010 to be between $680 -$730 million dollars. This increase is
being attributed to the broad improvement in demand within multiple end
markets. Marvell
will hold a conference call on December 3, 2009, to discuss these
results.
VIVUS Inc. (NASDAQ: VVUS), $9.80, +$0.62, 6.75%, is trading
eleven times its usual volume since mid September. The share price
increased by 9% with no new developments being reported since early
October.
