Preview Of Arena's Upcoming Advisory Committee
By KLLJ Investments: On the morning of May 8th, the Food & Drug Administration (FDA) will release the briefing documents for the May 10th Advisory Committee (AdCom) meeting to discuss the risk and benefit profile of Arena Pharmacueticals' (ARNA) new drug, Lorqess (lorcaserin hydrochloride). There are good arguments that can be made for both a bear and bull case on the approvability of Lorqess and these will take center stage on Thursday. Given that the market capitalization of Arena is half of what it was going into the 2010 AdCom to review the drug coupled with a high short-interest, most believe Arena will again receive a negative vote by panel members and a subsequent Complete Response Letter (CRL) to follow on June 27th.The biggest question among investors watching the obesity space is, has the sentiment changed within the FDA to indicate they are ready to approve the first new treatment for obesityComplete Story »
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