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Los Angelas, CA -- (SBWIRE) -- 01/16/2013 -- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) shares climbed 5.97% to $10.81. The company’s president and chief executive officer, Jack Lief, said last week that the company is looking for partners to sell the medicine abroad once it clears regulatory hurdles. The 52 week trading range for the company is $1.54 – $13.50. The shares of the company soared 518% in the last one year. ARNA is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing oral drugs that target G protein-coupled receptors (GPCRs), in four therapeutic areas: cardiovascular, central nervous system, inflammatory and metabolic diseases.
What Should Investors Do With ARNA Now? Find Out Here
Vivus Inc. (NASDAQ:VVUS) is the only company with an obesity drug on the market. Following the FDA approval of their drug Qsymia last summer, the stock got destroyed. Trading from an intraday high of $31.21 in July, the stock bottomed at $10 in mid November. The basic disappointment came from extremely tepid initial physician prescriptions. While the scripts have grown sequentially since the drug’s introduction, they are still very low. In fact, they only reported 13,000 for the month of December. Vivus closed at $13.18 the day of our story. Closing yesterday at $14.61 made for a 10.85% gain, or nearly 40% from the November lows. The consensus price target is $25. But to get there Wall St, must see positive prescription growth in the coming months.
Is vvUS Showing Any Sign of Buy At The Current Market Price? Find Out Here
InterMune, Inc. (NASDAQ:ITMN) has agreed to sell an aggregate of $105,000,000 principal amount of its 2.50% convertible senior notes due 2017 and 13,500,000 shares of its common stock at a price to the public of $9.90 per share in concurrent underwritten public offerings. InterMune has granted the underwriters 30-day options to purchase up to an additional $15,750,000 aggregate principal amount of convertible senior notes and up to an additional 2,025,000 shares of common stock in connection with the offerings. InterMune estimates aggregate net proceeds from the concurrent offerings to be approximately $228.1 million, after deducting underwriting discounts and commissions and estimated offering expenses. InterMune currently intends to use the net proceeds from the offerings to repay at maturity or earlier repurchase its outstanding 5.00% convertible senior notes due 2015. The Company currently has received commitments from certain holders of the outstanding 5.00% convertible senior notes to allow the Company to repurchase approximately $50 million of the 2015 notes.
Can ITMN Extend Gain? If Yes, How Far It Can Go? Find Out Here
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