A clinical-stage biopharmaceutical company focused on discovering, developing and commercializing oral drugs in four major therapeutic areas: cardiovascular, central nervous system, inflammatory and metabolic diseases.
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Probably overly risky to "play" with Arna a day before their date with the FDA. The oscillations the last few days of profit taking could also be an effort to cast doubt on approval of Arena Pharmaceuticals obesity drug, Lorcaserin. the points against seem to be focused on the mixed, but overall approval of the advisory panel. The report seemed to be that approval of Arna was the lesser of the "evils". Adding another tool to use against obesity vs cardiovascular safety. Generally safety weighs out and similar concerns have blocked approval of some diabetes drug candidates.
Another catalyst could be the wait for Vivus to get FDA results. Thier advisory panel was more positive.
Arena Pharmaceuticals drug is a compound drug with both pieces having additional data. It could push through and we could get a spike and then sell on the news as the outlook for Vivus would be even more likely or we could get another CRL requiring some additional work to be done, or we could get a disapproval. Overall this one on approval could spike and leave me a hundred points in the hole. Based on recent stock action, with Vivus behind Arna, and with some company' inability to bring product to market, overall, I "should" get away with this downthumb regardless of the outcome. Many investor/speculators have a profit from the May spike from $2 to $10 that they will want to protect.
Risky play short term.
Approved and set to open in five minutes. Looks like I should have waited for a pop and then a downthumb. Hard to say where this one will settle. I suspect, however, that in the long run any exhuberance will wear down, especially if Vivus gets approved and becomes the prescription of choice for doctors who feel that drugs are worth the risks.....countdown....5....4....3....