Arena Pharmaceuticals (NASDAQ:ARNA) gained approval from the Food and Drug Administration for its obesity drug, Belviq, this summer, and now it's gearing up to market the drug with its partner Eisai. Arena has a lot riding on a successful Belviq launch, but the company is also developing other drugs. For instance, it recently announced a second phase 1 clinical trial for its developmental pulmonary arterial hypertension drug, APD811.
What effect did this news story have on Arena's share price? What does the development of APD811 mean for Arena for both the short and long term? Also, if the drug eventually makes it through phase 1, 2, and 3 clinical trials, will Arena face competition from companies like United Therapeutics (NASDAQ:UTHR) and Gilead Sciences
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Max Macaluso, Ph.D. and Brenton Flynn hold no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Motley Fool newsletter services have recommended buying shares of Gilead Sciences. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.