Arena Pharma rises on new lorcaserin trial data

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NEW YORK -Shares of Arena Pharmaceuticals Inc. traded higher Monday after the company reported new clinical trial data for its experimental obesity drug lorcaserin.

Arena said patients who took lorcaserin lost 31 percent of their excess body weight in the first year of a two-year study. Patients who took a placebo lost 12 percent of their excess weight, the company said. The results were presented at the annual scientific meeting of The Obesity Society in Washington DC.

In June, the San Diego company said lorcaserin met its key goals in the study by helping patients lose weight and keep it off. Arena stock rose 19 cents, or 4.4 percent, to $4.53 in morning trading.

Competitor Orexigen Therapeutics Inc. also presented trial data on its obesity drug candidate Contrave at the meeting, and Vivus Inc. is scheduled to make a presentation about its drug Qnexa.

2009-10-26 10:48:47