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5/15/2012 7:13 PM ET

Arena Pharmaceuticals, Inc. (ARNA: Quote) said Tuesday that it plans to offer and sell shares of its common stock in an underwritten public offering.

There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering, the company noted.

Jefferies & Company, Inc. and Piper Jaffray & Co. are acting as joint book-running managers for the offering. BMO Capital Markets is acting as a co-manager for the offering.

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