Kolkata, West Bengal -- (SBWIRE) -- 09/13/2013 -- Specialpennystockalert.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), VIVUS, Inc.(NASDAQ:VVUS), Orexigen Therapeutics, Inc. (NASDAQ:OREX).
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) stock dropped 2.57% to $5.87. The company on August 28 announced the completion of a Phase 1b clinical trial for APD811, an investigational oral prostacyclin (IP) receptor agonist intended for the treatment of pulmonary arterial hypertension (PAH). The company plans to initiate a Phase 2 clinical trial for APD811 in the first quarter of 2014.
Additionally, the company announced that the company is scheduled to present a corporate overview at the Bank of America Merrill Lynch Global Healthcare Conference on Friday, September 13, 2013, at 1:45 p.m. British Summer Time (5:45 a.m. Pacific Time), at the Bank of America Merrill Lynch Financial Centre in London, England.
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VIVUS, Inc.(NASDAQ:VVUS) shares declined 2.55% to $10.15. The company on Sept. 4 said new Chief Executive Officer Tony Zook has resigned because of health reasons. Seth H. Z. Fischer, formerly with Johnson & Johnson (JNJ), will replace Zook immediately, the Mountain View, California-based company said in a statement.
Zook started as CEO on July 22 after shareholders First Manhattan Co. and Sarissa Capital Management LP ousted former chief Leland Wilson when they won control of the board. Fischer’s mandate will be the same as Zook’s: expanding use of the obesity drug Qsymia, finding a marketing partner, getting to market in Europe and cutting costs.
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Orexigen Therapeutics, Inc. (NASDAQ:OREX) shares dropped 1.75% and closed at $6.73 in the last trading session. The company announced that management was scheduled to present a company overview at the Bank of America Merrill Lynch Global Healthcare Conference in London. The presentation is scheduled for Thursday, September 12(th) at 9:30 a.m. London Time.
Additionally, the company on August 27 announced that the Light Study independent Data Monitoring Committee has recently confirmed that sufficient major adverse cardiovascular events (MACE) are expected to occur within the next two months, enabling the interim analysis to be conducted by early December and the potential resubmission of the Contrave® New Drug Application (NDA) by year end.
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