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Arena Pharma Q2 revenues climb

Arena Pharmaceuticals has reported total revenues of $3.26m for the second quarter ended 30 June 2011, compared to $2.46m for the same period in 2010.

Arena’s net loss was $22.91m, or $0.16 loss per diluted share, compared to net loss of $28.76m, or $0.28 loss per diluted share, for the same period in 2010.

For the six months ended 30 June 2011, the company reported total revenues of $7.18m, compared to $4.97m for the same period in 2010.

The company has reported net loss of $62.81m or 0.49 loss per diluted share for the six months ended 30 June 2011, as compared to $60.03m or $0.60 loss per diluted share for the same period in 2010.

Arena president and CEO Jack Lief said they view the results from the Pathology Working Group’s re-adjudication and the CSF study as important steps toward our planned response to the lorcaserin complete response letter.