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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Mon., Jan. 26, 9:24 AM

Slide #14. Arena Pharmaceuticals, Inc. Secondary Offering

Company: Arena Pharmaceuticals, Inc. (NASDAQ:ARNA)
Date announced: 1/20/2015
Shares Offered: 21,000,000
Secondary Offering Details: Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) today announced that it intends to offer and sell shares of its common stock in an underwritten public offering. All of the shares are being offered by Arena. - updated 1/21 - Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) today announced that it has sold 21,000,000 shares of common stock to Jefferies LLC and Piper Jaffray & Co. as underwriters for its previously announced public offering. The underwriters offered the shares to purchasers in transactions on The NASDAQ Global Select Market, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. The offering is expected to close on or about January 26, 2015, subject to customary closing conditions. In addition, Arena has granted the underwriters a 30-day option to purchase up to an aggregate of 3,000,000 additional shares of common stock. All of the shares are being offered by Arena. Arena anticipates using the net proceeds from the offering for the clinical and preclinical development of drug candidates, for discovery research for new drug candidates, and for general corporate purposes, including working capital, costs associated with product sales and manufacturing services, capital expenditures and potentially for the commercialization of any new approved drugs.

Arena Pharmaceuticals is a biopharmaceutical company focused on discovering, developing and commercializing drugs that target G protein-coupled receptors to address medical needs. BELVIQ®, Co.'s internally discovered drug for chronic weight management, is its sole drug approved by the U.S. Food and Drug Administration for marketing. In addition to BELVIQ, Co. has drug candidates and compounds at various stages of research and development, including APD811 for the treatment of pulmonary arterial hypertension; Temanogrel for the treatment of thrombotic diseases; APD334 for the treatment of a number of conditions related to autoimmune diseases; and APD371 for the treatment of pain.
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Company Name:  Arena Pharmaceuticals Inc
Website:  www.arenapharm.com
Sector:  Drugs & Pharmaceuticals
Number of ETFs Holding ARNA:  18
Total Market Value Held by ETFs:  $80.39M
Total Market Capitalization:  $1.04B
% of Market Cap. Held by ETFs:  7.75%
 

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January 26, 2015    9:24 AM Eastern
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Buy (2.83 out of 4)
34th percentile
(ranked lower than approx. 66% of all stocks covered)
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