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Why Arena Pharmaceuticals Stock Skyrocketed 80% Today

TheMotleyFool

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Why Arena Pharmaceuticals Stock Skyrocketed 80% TodayPhoto, wide shot, wide-angle lens, Clinical research organization, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by David Maisel: https://img.theapi.app/temp/0e9d087d-988e-4397-b7cf-6049e2776769.png

Shares of Arena Pharmaceuticals (NASDAQ: ARNA) soared 80% on Monday after the drugmaker struck a merger agreement with Pfizer (NYSE: PFE).

Arena is a clinical-stage company focused on developing treatments for immuno-inflammatory conditions. It has a promising pipeline of drug candidates in areas such as gastroenterology, dermatology, and cardiology.

Perhaps most promising is Arena's experimental oral therapy etrasimod. Clinical trials are underway to evaluate etrasimod for the treatment of ulcerative colitis, Crohn's disease, and other ailments.

Source Fool.com

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