Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) is having an incredibly strong start to the trading session this morning, and for good reason. The company released positive data from a key Phase 2 clinical trial. As you would imagine, this led to gains, as excited investors wanted a larger piece of the pie. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:34), ARNA is trading at $26.44 per share after a gain of $8.05 per share (43.77%) thus far today.
ARNA Gains Big On Positive Clinical Data
As mentioned above, Arena Pharmaceuticals is having an overwhelmingly strong start to the trading session today after announcing positive results from a key clinical trial. The trial was a Phase 2 study revolving around a drug that targets pulmonary arterial hypertension, a disease known to cause high blood pressure in the lungs.
In their release, ARNA said that the drug showed “a statistically significant absolute change from baseline.” The study included a total of 61 patients. The patients who received the drug, known as ralinepag, showed 29.8% greater improvement than patients in a placebo group and 20.1% improvement compared to the baseline.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on ARNA. In particular, we’re interested in following the development of ralinepag, as the treatment looks to be an overwhelmingly promising candidate. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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