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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.

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