Arena bounces back. Stock soars on ozanimod rival's PhII success
Its diet pill was a commercial flop that almost sent Arena to the grave. Now — with its second pipeline drug reporting positive mid-stage data — Arena is making a comeback.
After a rocky few years that included massive layoffs, companywide restructuring, and an obliterated stock, Arena now has a fresh pipeline with two drugs that have produced solid Phase II data. The San Diego company’s stock $ARNA, once in the gutter, has more than doubled since this time last year.
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