SAN DIEGO, May 1 /PRNewswire-FirstCall/ -- Arena Pharmaceuticals, Inc. today announced it will report first quarter 2006 financial results after the NASDAQ National Market closes on Monday, May 8, 2006. That same afternoon Jack Lief, Arena’s President and Chief Executive Officer, and Robert E. Hoffman, Arena’s Vice President, Finance and Chief Financial Officer, will host a conference call at 5:00 p.m. ET (2:00 p.m. PT) to discuss the first quarter 2006 financial results and to provide a corporate update.
The conference call may be accessed by dialing 866.800.8652 for domestic callers and 617.614.2705 for international callers. Please specify to the operator that you would like to join the “Arena First Quarter 2006 Earnings Call.” The conference call will be webcast live under the investor relations section of Arena’s website at www.arenapharm.com, and will be archived there for 30 days following the call. Please connect to Arena’s website several minutes prior to the start of the broadcast to ensure adequate time for any software download that may be necessary.
About Arena Pharmaceuticals
Arena is a clinical-stage biopharmaceutical company focusing on the discovery, development and commercialization of small molecule drugs in four major therapeutic areas: metabolic, central nervous system, cardiovascular and inflammatory diseases. Arena is developing a broad pipeline of compounds targeting an important class of drug targets called G protein-coupled receptors, or GPCRs, using its knowledge of GPCRs and its technologies, including CART(TM) (Constitutively Activated Receptor Technology) and Melanophore. Arena has four internally discovered, clinical-stage drug candidates for major diseases. The most advanced is APD356, a selective 5-HT2C serotonin receptor agonist that is under investigation for the treatment of obesity and is expected to enter Phase 3 clinical development in the second half of 2006. Arena’s lead drug candidate for the treatment of insomnia, APD125, is a compound with a novel mechanism of action (a selective 5-HT2A receptor inverse agonist) with an IND pending before the FDA for the initiation of a Phase 2 trial in patients with chronic insomnia. Arena also has two clinical-stage collaborations with major pharmaceutical companies: Merck & Co., Inc., began a Phase 1 clinical trial of an Arena-discovered drug candidate for the treatment of atherosclerosis and related disorders in the third quarter of 2005; and Ortho-McNeil, Inc., a Johnson & Johnson company, began a Phase 1 clinical trial of APD668, an Arena-discovered drug candidate for the treatment of type 2 diabetes, in the first quarter of 2006.
Arena Pharmaceuticals(R) and Arena(R) are registered service marks of the company. CART(TM) is an unregistered service mark of the company. “APD” is an abbreviation for Arena Pharmaceuticals Development.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements include statements about the expected clinical trials of APD356 and APD125 and other statements about Arena’s strategy, technologies, preclinical and internal and partnered clinical programs, and ability to develop compounds and commercialize drugs. For such statements, Arena claims the protection of the Private Securities Litigation Reform Act of 1995. Actual events or results may differ materially from Arena’s expectations. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, the FDA may not allow Arena’s planned clinical trials to proceed at the time Arena expects or at all, the results of preclinical studies or clinical trials may not be predictive of future results, Arena’s ability to partner APD356, APD125 or other of its compounds or programs, the timing, success and cost of Arena’s research, out-licensing endeavors and clinical trials, Arena’s ability to obtain additional financing, Arena’s ability to obtain and defend its patents, and the timing and receipt of payments and fees, if any, from Arena’s collaborators. Additional factors that could cause actual results to differ materially from those stated or implied by Arena’s forward-looking statements are disclosed in Arena’s filings with the Securities and Exchange Commission. These forward-looking statements represent Arena’s judgment as of the time of this release. Arena disclaims any intent or obligation to update these forward-looking statements, other than as may be required under applicable law.
Contacts: Jack Lief President & CEO David Walsey Director, Corporate Communications Arena Pharmaceuticals, Inc. 858.453.7200, ext.1682 Carin Canale Media & Investor Relations Porter Novelli Life Sciences 858.527.3498
Arena Pharmaceuticals, Inc.
CONTACT: Jack Lief, President & CEO, or David Walsey, Director, CorporateCommunications, both of Arena Pharmaceuticals, Inc., +1-858-453-7200, ext.1682; or Media & Investor Relations, Carin Canale of Porter Novelli LifeSciences, +1-858-527-3498, for Arena Pharmaceuticals, Inc.
Web site: http://www.arenapharm.com/
