Arena Raising R&D Funds (ARNA)

By Douglas A. McIntyre Updated Apr 27, 4:32PM EDT · Published Nov 25, 4:39PM EST

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Money_stack_pic_4 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

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.