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Arena Pharma Finance Chief Hoffman To Leave Company

DOW JONES NEWSWIRES Arena Pharmaceuticals Inc. (ARNA) said its Chief Financial Officer Robert Hoffman has taken a new position in the health-care industry and will leave the company after it reports its full-year 2010 results. Hoffman is a veteran of the biopharmaceutical company, having served as CFO since December of 2005 and having been with the company since 1997. "Robert has built a strong finance team at Arena, and we are focused on ensuring a smooth transition when he departs next month," said President and Chief Executive Jack Lief. Arena said Jennifer Bielasz and Carolyn Felzer will "continue to play key leadership roles in Arena's finance department" in the interim. Arena in January said it planned to cut its U.S. work force by about one-fourth, or 66 employees, as the company continued to focus on regulatory approval of its proposed diet drug lorcaserin. The U.S. Food and Drug Administration had rejected the drug in October because of questions about its effectiveness, as well as the drug's association with breast-tumor growth in female rat studies. Shares of Arena closed at $1.66 and were inactive after hours. The stock has fallen 46% in the past year. -By Nathan Becker, Dow Jones Newswires; 212-416-2855; nathan.becker@dowjones.com;

Stock News for Arena (ARNA)
DateTimeHeadline
04/15/201508:02:023 Promising Healthcare Stocks Under $10
04/13/201511:00:47Arena's 15,000 Scripts Set Pace Vs. Competitors
04/13/201510:23:41Orexigen: Contrave Scripts Dip - Were My Concerns About Advertising...
04/13/201507:59:01Arena Gets Closer On Extended Release Formulation Of Belviq
04/12/201514:03:03The Best Stock to Invest in Obesity Drugs
04/10/201510:27:12Arena's Partner Eisai Is Slashing Jobs - What Investors Need...
04/10/201509:29:04Arena secures new Belviq patent; Eisai cuts sales force
04/10/201508:48:57Arena completes two Phase 1 trials for once-daily formulation...
04/10/201508:31:53Current Report Filing (8-k)
04/10/201508:00:00Eisai and Arena Pharmaceuticals Complete Registrational Trials...
04/09/201511:45:18Novo Nordisk Quietly Becoming Big Player In Obesity Space
04/09/201508:00:00Arena Pharmaceuticals to Present at the Annual Needham Healthcare...
04/07/201508:00:00Arena Pharmaceuticals Receives Additional Patent for BELVIQ®...
04/04/201513:30:31NASH Series: Novo Nordisk And Cadila Healthcare
04/02/201521:20:16Novo Nordisk Entry Is Bullish For The Anti-Obesity Space
04/01/201518:59:27Statement of Changes in Beneficial Ownership (4)
03/30/201519:57:55Arena - Assessing Belviq In South Korea
03/28/201505:21:38Arena: Belviq Sales Flatter Than Needed - Q1 Revenue Miss Likely
03/27/201507:59:45Arena Investors Need To Pay Attention To Competition
03/23/201508:49:56Arena Pharmaceuticals Could Have Better Luck In Quarter 2

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