Eisai Inc. and Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) announced the availability of BELVIQ XR® (lorcaserin HCl) CIV extended-release 20 mg tablets, a new once-daily dosing option that may help some patients achieve and maintain weight loss.
“With more than 78 million adults who are obese in this country and obesity rates on the rise, there is an increased need for additional therapeutic options to help patients better manage their weight,” saidCaroline Apovian, M.D., Professor of Medicine at Boston University School of Medicine. “A once-daily, extended-release tablet provides a treatment regimen that may help patients meet their weight loss goals.”
BELVIQ XR is proven to be slowly absorbed in the body and last throughout the day. The 20 mg once-daily extended-release formulation is approved for use with a reduced-calorie diet and increased physical activity for chronic weight management in adults who have a body mass index (BMI) of 30 kg/m2 or greater (obese), or BMI of 27 kg/m2 or greater (overweight) with at least one weight-related medical condition, such as high blood pressure, high cholesterol or type 2 diabetes. It is not known if BELVIQ XR, when taken with other prescription, over-the-counter, or herbal weight-loss products, is safe and effective. It is not known if BELVIQ XR changes your risk of heart problems, stroke or death due to heart problems or stroke.
“We are pleased that BELVIQ XR is now available to patients and may provide them with a new option that can be used as part of their weight management armamentarium,” said Amit Munshi, President and Chief Executive Officer, Arena Pharmaceuticals, Inc.”The launch of this new formulation is another example of Arena’s success in supporting our collaborators.”
“Eisai is committed to those living with obesity—a chronic, progressive disease that has serious health consequences,” said Paul Hawthorne, Senior Vice President, Neurology Business Group, Eisai Inc. “We are excited to offer patients a once-daily option for chronic weight management that may help them achieve and sustain their weight loss goals.” (Original Source)
Shares of Arena Pharmaceuticals closed last Friday at $1.75. ARNA has a 1-year high of $2.68 and a 1-year low of $1.30. The stock’s 50-day moving average is $1.65 and its 200-day moving average is $1.73.
On the ratings front, ARNA stock has been the subject of a number of recent research reports. In a report issued on September 14, FBR analyst Christopher James initiated coverage with a Buy rating on ARNA and a price target of $6.00, which implies an upside of 243% from current levels. Separately, on August 10, Needham’s Alan Carr maintained a Hold rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Christopher James and Alan Carr have a total average return of -11.0% and 13.9% respectively. James has a success rate of 38% and is ranked #4038 out of 4197 analysts, while Carr has a success rate of 51% and is ranked #154.
Arena Pharmaceuticals, Inc. is a biopharmaceutical company engages in the discovery, development, and commercialization of novel drugs that target G protien-coupled receptors. It offers a range of drugs for treatment in the field of cardiovascular, central nervous system, inflammatory, and metabolic diseases.