SAN DIEGO, Aug. 8, 2016 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (ARNA), today reported financial results for the second quarter ended June 30, 2016, and provided a corporate update.
"We are continuing to successfully execute the turnaround and transition of Arena from a historically research-oriented organization to a high performing clinical development organization focused on maximizing the value of our assets – this includes re-orienting priorities, building requisite capabilities and establishing key linkages to the physician community," said Amit Munshi, Arena's President and CEO. "With our three proprietary clinical programs, we are committed to developing our pipeline in a time and cost conscious manner to deliver first, or best-in-class, compounds. Our strong quarter-end cash position of $122.0 million in addition to the workforce reductions supports the advancement of our clinical stage programs."
"In addition to our on-going Phase 2 programs for etrasimod and ralinepag, we are excited to announce that APD371 will be evaluated in a Phase 2 program for the treatment of pain associated with Crohn's disease, which we expect to initiate early in 2017. We are working to unlock the value in our portfolio, including these three Phase 2 programs, as well as supporting our multiple collaborations which span a marketed product, a Phase 2 program, a Phase 1 program and a preclinical program," Munshi concluded.
Clinical Update
*Etrasimod (APD334)
-Etrasimod is currently being evaluated in a Phase 2 clinical trial for ulcerative colitis.
-The Company expects Phase 2 data in the fourth quarter of 2017.
-The United States Adopted Names (USAN) Council has approved the nonproprietary name etrasimod for APD334.
*Etrasimod is currently being evaluated in a Phase 2 clinical trial for ulcerative colitis.
*The Company expects Phase 2 data in the fourth quarter of 2017.
*The United States Adopted Names (USAN) Council has approved the nonproprietary name etrasimod for APD334.
2Q16 Update
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