Fly News Breaks for February 27, 2020
Feb 27, 2020 | 06:55 EDT
Cantor Fitzgerald analyst Alethia Young lowered the firm's price target on Arena Pharmaceuticals to $56 from $62 and reiterates an Overweight rating on the shares. The analyst cites increased costs in Q1 and over 2020 for the reduced target and notes greater investment in a bigger pipeline. The biggest investor pushback on Arena over 2019 was a lack of near-term catalysts, but now it is safe to say that this narrative has fundamentally shifted in 2020, Young tells investors in a post-earnings research note. Eight late stage readouts are expected in 2020 and 2021, the analyst says.
News For ARNA From the Last 2 Days
Aug 5, 2021 | 07:47 EDT
Second Genome announced they are entering a strategic collaboration with Arena Pharmaceuticals to identify microbiome biomarkers associated with clinical response for their lead program in gastroenterology, etrasimod. Under the terms of the agreement, Second Genome will utilize its proprietary sg-4-sight discovery engine to identify microbiome biomarkers associated with clinical benefit or adverse effects observed within data from the CULTIVATE clinical trial. Arena's CULTIVATE trial is a Phase 2/3 clinical trial evaluating the efficacy and safety of etrasimod, a next-generation, once-daily, oral, highly selective sphingosine 1-phosphate receptor modulator, in patients with moderately-to-severely active Crohn's disease. This work will help inform patient stratification and optimize potential treatments for patients in the future.