Arena (ARNA) Expands Strategic Deal With Beacon Discovery
Zacks Investment Research | Jan 02, 2020 09:01PM ET
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) and privately-held Beacon Discovery entered into strategic multi-year partnership, which is named Project Cabrillo, to develop novel therapies targeting G protein-coupled receptors (“GPCR”) to treat immune and inflammatory indications.
Per the terms of the deal, while Beacon will be responsible for drug discovery using its proprietary GPCR discovery platform, Arena will develop and commercialize promising novel compounds as a treatment for a variety of immune and inflammatory diseases. The financial details related to the deal have not been disclosed.
Please note that Arena has several agreements with Beacon related to clinical developments and other business activities. The new deal between the companies expands their strategic relationship.
Arena’s shares have gained 12.9% in the past year compared with the industry ’s increase of 3.8%.
Arena’s pipeline currently consists of two key candidates, namely etrasimod (autoimmune diseases) and olorinab (pain and fibrotic diseases).
In June, Arena dosed the first patient in the pivotal phase III ELEVATE UC 52 study, evaluating etrasimod for treating moderately-to-severely active ulcerative colitis. The company initiated dosing in the phase IIb ADVISE study to evaluate the candidate for atopic dermatitis in October. It is planning to start a phase IIb/III CULTIVATE study for treating patients with Crohn's disease.
A phase II CAPTIVATE study is evaluating olonarib as a treatment for abdominal pain associated with irritable bowel syndrome.
We would like to remind investors that in January 2019, Arena out-licensed the global rights to its pulmonary arterial hypertension candidate ralinepag to United Therapeutics, Inc. (NASDAQ:UTHR) .
The expanded relationship with Beacon will likely boost Arena’s pipeline targeting auto-immune diseases.
Arena Pharmaceuticals, Inc. Price
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.