logo
Plus   Neg
Share
Email

Arena Pharmaceuticals Posts Q4 Profit, Shares Up

Shares of Arena Pharmaceuticals Inc. (ARNA) rose 4% on extended trading session Tuesday after the company reported a strong results for the fourth quarter.

Net income for the fourth quarter was $68.7 million or $1.35 per share, compared to net loss of $13.7 million or $0.35 per share last year.

Revenues for the quarter totaled $8.6 million, down from 15.4 million last year.

Analysts polled by Thomson Reuters estimated loss of $0.76 per share and revenues of $3.6 million for the quarter.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration or FDA announced on its website that pharma major Pfizer, Inc. issued recall of two lots of tablets meant to treat acute migraine in adults for concerns over bacteria infection. The pharma company is recalling two lots of Relpax (eletriptan hydrobromide) 40 mg tablets for potential presence of Genus Pseudomonas and Burkholderia bacteria. Cosmetics company Revlon Inc. (REV) is reportedly considering a potential sale of parts or all of its business. According to Bloomberg, Revlon has retained financial advisers from Goldman Sachs Group Inc. to explore strategic alternatives. No deal has been reached yet, but Revlon is exploring all... China's Lenovo Group Ltd. warned it may have to raise prices of its products if the U.S. moves ahead with the decision to impose additional tariffs on Chinese goods, according to a report by Reuters. The warning by Lenovo, the world's largest PC maker, comes amid the escalating trade war between the U.S. and China that has raised concerns about the global economic outlook.
Follow RTT