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Wednesday, May 9, 2012

Stock Alert - Arena Pharmaceuticals (ARNA) +10.8% premarket- 5/9/12

Arena Pharmaceuticals (ARNA) +10.8% premarket after skyrocketing 25% yesterday, as briefing documents posted suggest the company may have provided the FDA with enough new information to alleviate concerns about the risk of tumors and heart problems with its lorcaserin obesity drug. BMO upgrades shares and raises its price target to $7 from $1

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