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Arena Pharmaceuticals Inc. Reports Operating Results (10-Q)

May 02, 2012 | About:
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10qk

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Arena Pharmaceuticals Inc. (ARNA) filed Quarterly Report for the period ended 2012-03-31.

Arena Pharma has a market cap of $388.7 million; its shares were traded at around $2.34 with and P/S ratio of 30.6. Arena Pharma had an annual average earning growth of 0.7% over the past 10 years.

Highlight of Business Operations:

Revenues. We recognized revenues of $2.2 million for the three months ended March 31, 2012, compared to $3.9 million for the three months ended March 31, 2011. Our revenues for the three months ended March 31, 2012, included (i) $1.3 million under our manufacturing services agreement with Siegfried Ltd, or Siegfried, and (ii) $0.9 million from amortization of the $50.0 million non-refundable, upfront payment we received in July 2010 from Eisai, or Eisai upfront payment. Our revenues for the three months ended March 31, 2011, included (i) $1.4 million under our manufacturing services agreement with Siegfried, (ii) $1.0 million under our marketing and supply agreement with Eisai in reimbursements for additional lorcaserin development work, (iii) $1.0 million from amortization of the Eisai upfront payment and (iv) $0.5 million, primarily for patent activities, related to our former collaboration with Ortho-McNeil-Janssen Pharmaceuticals, Inc., which was terminated in December 2010.

Read the The complete Report

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