Robert Hoffman to Rejoin Arena Pharmaceuticals, Inc. as Vice President, Finance and Chief Financial Officer

SAN DIEGO, Aug 12, 2011 /PRNewswire/ -- Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) today announced that Robert E. Hoffman will rejoin Arena on August 29, 2011, as Vice President, Finance and Chief Financial Officer. Mr. Hoffman served in various financial positions with Arena for over 13 years before departing in March to work for a private biopharmaceutical company.

“Robert is a valuable leader who has been a key contributor to Arena,” said Jack Lief, Arena’s President and Chief Executive Officer. “Robert’s return comes at an important time for Arena as we prepare to respond to the lorcaserin complete response letter.”

Mr. Hoffman, 45, currently serves as a member of the Financial Accounting Standards Board’s small business advisory committee and the steering committee of the Association of Bioscience Financial Officers. He is also a member and a former director and President of the San Diego Chapter of Financial Executives International.

“I look forward to again working closely with my colleagues to support Arena’s efforts to seek FDA approval of lorcaserin and to advance select earlier-stage research and development programs,” said Mr. Hoffman.

Mr. Hoffman previously served as Arena’s Vice President, Finance and Chief Financial Officer from December 2005 to March 2011; Vice President, Finance and Chief Accounting Officer from June 2004 to December 2005; Vice President, Finance from April 2000 to June 2004; and Controller from August 1997 to April 2000.

About Arena Pharmaceuticals

Arena is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing oral drugs that target G protein-coupled receptors, an important class of validated drug targets, in four major therapeutic areas: cardiovascular, central nervous system, inflammatory and metabolic diseases. Arena’s most advanced drug candidate is intended for weight management.

Arena Pharmaceuticals® and Arena® are registered service marks of the company.

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 advancement, therapeutic indication and use and potential of lorcaserin; the response to the complete response letter, or CRL, for the lorcaserin New Drug Application, or NDA, potential approval of lorcaserin and related activities; the advancement of earlier-stage programs; and Arena’s focus, goals, strategy, research and development 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 following: the timing of regulatory review and approval is uncertain; the risk that data and other information related to Arena’s research and development programs may not meet safety or efficacy requirements or otherwise be sufficient for regulatory approval; Arena’s response to the CRL for the lorcaserin NDA or submission of a Marketing Authorization Application for regulatory approval of lorcaserin may not be submitted when anticipated, if at all; the FDA may request other information prior to or after Arena submits such response or approval of the lorcaserin NDA; unexpected or unfavorable new data; risks related to commercializing new products; Arena’s ability to obtain and defend its patents; the timing, success and cost of Arena’s research and development programs; results of clinical trials and other studies are subject to different interpretations and may not be predictive of future results; clinical trials and other studies may not proceed at the time or in the manner expected or at all; Arena’s ability to obtain adequate funds; risks related to relying on collaborative agreements; the timing and receipt of payments and fees, if any, from collaborators; and satisfactory resolution of pending and any future litigation or other disagreements with others. 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.

SOURCE Arena Pharmaceuticals, Inc.