This Biotech's Obese To-Do List Is Done
&Nbsp; ) announced that it had resubmitted its marketing application for its obesity drug lorcaserin to the Food and Drug Administration.Arena has been guiding for a resubmission "around the end of the year." I'd call Jan. 3 close enough. And Arena actually made the submission last week. Presumably the company waited until yesterday to announce the submission to make sure more investors saw it. It seems to have worked.
Ironically, management should be a little offended by the increase since it basically means investors didn't have confidence that Arena could complete its obese to-do list by its self-inflicted deadline.
Handicapping lorcaserin's chances for approval on its second attempt is difficult. The FDA always does a risk-benefit analysis when deciding whether to approve a drug. The more benefit a drug provides, the more tolerable the agency is of potential side effects. Chemotherapy drugs, for instance, cause hair loss, which is an acceptable side effect for cancer, but not for something less benign like high cholesterol.
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