Lakeway, TX -- (SBWIRE) -- 03/05/2013 -- Bestdamnpennystocks, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-
The company anticipates a high single-digit percentage increase in revenue in comparison to analyst prediction of $6.34 billion.
Providing with a corporate update today Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) reviewed financial results for the fourth quarter and full year ended December 31, 2012.
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Jack Lief, Arena's President and Chief Executive Officer said "2012 was a momentous year for Arena with the FDA approval of our first drug, BELVIQ," "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."
On June 27 2012, the US Food and Drug Administration approved BELVIQ as an adjunct to a reduced-calorie diet and increased physical activity for chronic weight management in adult patients with an initial body mass index of 30 kg/m2 or greater (obese), or 27 kg/m2 or greater in the presence of at least one weight-related comorbid condition.
Revenue for the fourth quarter totaled at $1.9 million down from $2.1 million of 2011 and in the full year the total came at $27.6 million up by almost 117% in comparison to last year because of $20.0 million milestone payment from Eisai for the inclusion of the efficacy and safety data from the Phase 3 BLOOM-DM clinical trial in the FDA-approved prescribing information for BELVIQ.
Research and development expenses in the fourth quarter increased to $13.9 million and in the full year declined to $54.1 million from $58.7 million.
Arena's net loss allocable to common stockholders in the full year ended December 31, 2012, was $88.3 million, or $0.45 per share.
Revenue for 2013 is expected to be $65 million and research and development expenses of approximately $70 million to $78 million, including non-cash expenses of approximately $7 million, and general and administrative expenses of approximately $28 million to $34 million, including non-cash expenses of approximately $6 million.
Stratasys, Ltd. (NASDAQ:SSYS) shares surge $4.34 or 6.76% to $68.60 in the morning session after the company posted a better than expected fourth quarter results.
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Revenue was up by 23% to $96.4 million surpassing Street consensus forecast of 52.8 million. Non-GAAP profits of 40 cents a share, edging the Street at 38 cents.
For full year 3D printing company posted revenue of $359 million and non-GAAP profits of $1.49 a share.
For 2013, the company sees revenue of $430 million to $445 million, and non-GAAP profits of $1.80 to $1.95 a share.
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