Oppenheimer Reviews Arena Pharmaceuticals at the Quarter

Oppenheimer has published a report on Arena Pharmaceuticals ARNA reviews numbers at the second quarter. In the report, Oppenheimer wrote, "On 8/9, ARNA reported 2Q results. Regarding lorcaserin for obesity, ARNA/Eisai expect to file a CRL response with the FDA by YE11 and an EU MAA in 1H12. ARNA recently reported results from a re-adjudication of lorcaserin rat mammary tumor data and a brain exposure study. We believe these results aid in characterizing lorcaserin's potential carcinogenicity risk, a key FDA question." Oppenheimer rated Arena Pharmaceuticals a Perform with no price target given. Arena Pharmaceuticals closed Tuesday at $1.45.