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Arena Pharmaceuticals, Inc. (ARNA) Obesity Drug Fails to Win FDA Approval, May Need More Clinical Testing


10/25/2010 6:35:25 AM

Xconomy -- Arena Pharmaceuticals (NASDAQ: ARNA) sent out some devastating news around midnight Pacific time on Friday. The San Diego-based biotech company, after about a dozen years of effort and $1 billion of investment, said the FDA had turned down its application to market a new drug to help people in the U.S. lose weight.

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