Arena Pharmaceutical shares fell over 20 per cent on Monday after the company announced its experimental obesity drug met endpoints of a a two year trial on over 3,000 patients on over 100 sites in the US, but fell short of the benchmark sought by the US Food and Drug Administration (FDA).
However, according to analysts who spoke to the Wall Street Journal, the trial results for Lorcaserin, the name of Arena’s new obesity drug, should be enough to get the company the FDA approval it seeks.
Arena said in its own press release earlier to day that the top line results from the BLOOM (Behavioral modification and Lorcaserin for Overweight and Obesity Management) trial were “positive”. The trial, where the new drug was tested against placebo, achieved statistically significant results (p