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Here's Why Arena Pharmaceuticals (ARNA) Stock is Skyrocketing Today
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On Tuesday, shares of biopharmaceutical company Arena Pharmaceuticals are skyrocketing, up about 41% to $26.10 per share in afternoon trading after it reported positive mid-stage trial results for one of its drugs. The stock was up 45% in pre-market trading.
Arena said that within its 61-patient trial its experimental pulmonary arterial hypertension (PAH) drug, ralinepag, significantly improved pulmonary vascular resistance compared to patients receiving a placebo. The drug also showed numerical improvement in six-minute walk distance.
"The positive outcome of this Phase 2 trial in a contemporary PAH patient population is an important milestone in the development of ralinepag for the treatment of patients suffering from this grievous illness," stated Preston Klassen, M.D., MHS, Executive Vice President, Research and Development and Chief Medical Officer of Arena.
PAH is a chronic—and currently incurable disease—that causes the walls of the arteries of the lungs to tighten and stiffen. In someone who suffers from PAH, the right side of the heart has to work harder to push blood through the narrowed arteries in the lungs.
Johnson & Johnson (JNJ - Free Report) and United Therapeutics (UTHR - Free Report) dominate the PAH market at the moment, but Arena hopes ralinepag will be designated as “best-in-class,” which would help the company compete against its rivals. These results from the mid-stage trial is definitely a step in the right direction.
Looking ahead, Arena is planning on advancing ralinepag into a pivotal-stage trial soon. "It is exciting to see the positive nonclinical pharmacological profile translating into potentially the first oral prostacyclin therapy that may approach consistent therapeutic levels without the complexity of parenteral (IV) therapy. These data give us confidence to move expeditiously toward a Phase 3 clinical program,” Dr. Klassen continued.
Right now, ARNA is a #2 (Buy) on the Zacks Rank.
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Here's Why Arena Pharmaceuticals (ARNA) Stock is Skyrocketing Today
On Tuesday, shares of biopharmaceutical company Arena Pharmaceuticals are skyrocketing, up about 41% to $26.10 per share in afternoon trading after it reported positive mid-stage trial results for one of its drugs. The stock was up 45% in pre-market trading.
Arena said that within its 61-patient trial its experimental pulmonary arterial hypertension (PAH) drug, ralinepag, significantly improved pulmonary vascular resistance compared to patients receiving a placebo. The drug also showed numerical improvement in six-minute walk distance.
"The positive outcome of this Phase 2 trial in a contemporary PAH patient population is an important milestone in the development of ralinepag for the treatment of patients suffering from this grievous illness," stated Preston Klassen, M.D., MHS, Executive Vice President, Research and Development and Chief Medical Officer of Arena.
PAH is a chronic—and currently incurable disease—that causes the walls of the arteries of the lungs to tighten and stiffen. In someone who suffers from PAH, the right side of the heart has to work harder to push blood through the narrowed arteries in the lungs.
Johnson & Johnson (JNJ - Free Report) and United Therapeutics (UTHR - Free Report) dominate the PAH market at the moment, but Arena hopes ralinepag will be designated as “best-in-class,” which would help the company compete against its rivals. These results from the mid-stage trial is definitely a step in the right direction.
Looking ahead, Arena is planning on advancing ralinepag into a pivotal-stage trial soon. "It is exciting to see the positive nonclinical pharmacological profile translating into potentially the first oral prostacyclin therapy that may approach consistent therapeutic levels without the complexity of parenteral (IV) therapy. These data give us confidence to move expeditiously toward a Phase 3 clinical program,” Dr. Klassen continued.
Right now, ARNA is a #2 (Buy) on the Zacks Rank.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9x stock explosion after they launched their iPhone in 2007? Now, 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade, which could, in turn, save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>