Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) has filed to sell up to 25 million shares of common stock in a public secondary offering. Underwriters were not listed. Arena is a clinical-stage biotech company focused on discovering, developing and commercializing oral drugs in four major therapeutic areas: cardiovascular, central nervous system, inflammatory and metabolic diseases.
The company plans to use the proceeds for the clinical and preclinicaldevelopment of internally discovered drug candidates, for discoveryresearch for new drug candidates, for general corporate purposes,including working capital, and potentially for the commercialization ofany approved drugs.
Shares closed up about 4.8% at $3.50 in regular trading and shares havetraded down about 3% from the closing bell to $3.39 in the after-hourstrading session. Its 52-week trading range is $2.70 to $9.32. As for a size comparison, its market cap was listed as $259 million as of the close.
Jon C. Ogg
November 25, 2008
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
