Upside Exploding Stocks: Arena Pharmaceuticals, Verenium Corporation, Gravity Co

The Nasdaq is up 1.72% today and currently stands at 3,120. These stocks are leading the upsurge.

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) reports that the filing of a Marketing Authorization Application for its lorcaserin drug has been accepted by the European Medicines Agency. The med is intended as a weight control measure, which includes weight loss and loss maintenance in obese patients or those who are at least overweight and exhibit one or more weight-related co-morbid conditions. Lorcaserin’s EMA review process begins with the acceptance of the filing, and the company also says that the FDA is scheduling a meeting of an Endocrinologic and Metabolic Drugs Advisory Committee, which will convene on May 10th to discuss the resubmission of a lorcaserin New Drug Application.

Verenium Corporation (NASDAQ:VRNM) reports that DSM Food Specialties B.V., has purchased its Oilseed Processing Business. The buyer is a business group of Royal DSM, and has also licensed certain enzymes for use in the food and beverage markets. Further, the sale will open up new gene libraries that will be developed by Verenium, as the company continues its concentration on new enzymes in the animal health and nutrition field, as well as grain processing and oilfield services. These novel products promise ideal conditions for potential growth, and Verenium’s capital gets a boost of $37 million from the sale, which closes Monday.

Gravity Co. (NASDAQ:GRVY) commercially launched its sequel game Ragnarok Online II in Korea on Monday. This new product follows Gravity’s flagship game, Ragnarak Online, and is a free-to-play massively multiplayer online role playing game with a micro-transaction system, or sale of virtual in-game items model, which provides virtual item shops in the game in which players can purchase value-added items which customize, personalize and enhance their characters and game playing enjoyment. Licensing and distribution agreements for the new game have been obtained with local licensees in Brazil, China, Indonesia, Japan, Malaysia, the Philippines, Singapore, Thailand, and Vietnam.

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To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com