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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