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Arena Pharmaceuticals, Inc.
Obesity drug developer reports net loss of $0.42 per share
September 10th, 2003
Arena Pharmaceuticals, Inc., (ARNA) reported revenues of $3.0 million for the quarter ended June 30, 2003, compared to second quarter 2002 revenues of $5.8 million, and $8.3 million in revenues for the 6 months ended June 30, 2003, compared to $10.1 million in revenues for the 6 months ended June 30, 2002. Arena earns revenues under its collaborations primarily from research funding, milestone payments, and technology access and development fees. Arena reported a net loss for the second quarter and first half of 2003 of $11.8 million, or $.42 per share, and $20.6 million, or $.74 per share, respectively. This compares with a net loss for the second quarter and first...
Source: Biotech Week (2003-09-10)
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