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  • Conversation: UPDATE 1-Arena Pharma's bowel disease drug meets study goal, shares surge

    • March 20, 2018 5:24 PM GMT
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      UPDATE 1-Arena Pharma's bowel disease drug meets study goal, shares surge

      March 19 (Reuters) - Arena Pharmaceuticals Inc said on Monday a higher dose of its experimental drug succeeded in improving symptoms associated with ulcerative colitis, a chronic bowel disease, in a mid-stage study, sending its shares up 24 percent.
      The company's shares, which surged as much as 62 percent to $50 after the bell, were trading at $38.20.
      Arena said patients receiving the oral treatment showed statistically significant improvement in stool frequency, rectal bleeding and findings on endoscopy, compared with a placebo.
      The company said it planned to move the drug, etrasimod, to late-stage trials based on the data.
      Read more: https://www.cnbc.com/2018/03/19/reuters-america-update-1-arena-pharmas-bowel-disease-drug-meets-study-goal-shares-surge.html

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