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Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 2.40%.
Arena Pharmaceuticals, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.1 in the quarter versus EPS of $-0.16 in the year-earlier quarter.
Revenue: Decreased 8.65% to $1.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Arena Pharmaceuticals, Inc. reported adjusted EPS loss of $0.1 per share. By that measure, the company missed the mean analyst estimate of $-0.03. It missed the average revenue estimate of $21.94 million.
Quoting Management: “2012 was a momentous year for Arena with the FDA approval of our first drug, BELVIQ,” said Jack Lief, Arena’s President and Chief Executive Officer. “It is a time of great pride, with BELVIQ representing the first of what we expect will be many novel treatments resulting from our validated research and development approach.”
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