Exhibit 99.1

 

 

 

 

 

 

Arena Pharmaceuticals Provides Corporate Update and Reports Fourth Quarter and Full-Year 2018 Financial Results

 

 

Etrasimod demonstrated clinical response and durable, long-term clinical remission and favorable long-term safety and tolerability in an open-label extension trial

 

 

Completed global license agreement with United Therapeutics for ralinepag, received $800M upfront payment, and eligible to receive up to $400M in milestone payments plus low double-digit tiered royalties

 

 

Multiple first- or best-in-class therapeutics, strong leadership team and liquidity position of over $1.3 billion as of Feb. 1, 2019

 

 

SAN DIEGO, Calif., Feb. 26, 2019 -- Arena Pharmaceuticals, Inc. (Nasdaq: ARNA) today provided a corporate update and reported financial results for the fourth quarter and full-year ended December 31, 2018.

 

"In 2018 we delivered the steps necessary to position Arena for long-term, sustainable growth by securing a strong cash position, generating important data for our potential first- or best-in-class compounds, and scaling the organization. We kicked off 2019 with exciting data demonstrating etrasimod’s long-term efficacy and safety in an open-label extension trial, followed by the completion of the global license deal with United Therapeutics,” said Amit D. Munshi, President and CEO of Arena. “We are in a great position and we look forward to continuing to build on the momentum of the last two years.”

 

Pipeline Update

 

Etrasimod – Next generation, oral, selective sphingosine-1-phosphate (S1P) receptor modulator in development for the treatment of multiple immune and inflammatory diseases

 

Ulcerative colitis (UC):

 

o

Phase 3 planning ongoing

 

o

Delivered positive open-label extension data of Phase 2 OASIS trial

 

Demonstrated clinical response and durable, long-term clinical remission and a favorable long-term safety and tolerability

 

Subjects that achieved clinical response or clinical remission on 2 mg etrasimod at 12 weeks in OASIS demonstrated sustained treatment effect over 46 weeks, with 93% experiencing sustained clinical response and 75% experiencing sustained clinical remission

 


The following information was filed by Arena Pharmaceuticals Inc (ARNA) on Tuesday, February 26, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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