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Stock of biotech Arena Pharmaceuticals is up 62.59% to $5.95 this morning (May 11) on news that a panel of experts recommended approval of the company's obesity pill. However, there is still concern about the side effects of the pill, lorcaserin. The stock started the year at $1.92. Some analysts believe that the panel's approval may lead to the Food and Drug Administration approving lorcaserin. There are three companies working on obesity treatments. Another of them is San Diego's Orexigen Therapeutics. Its stock is up 10.75% to $3.71 this morning.
Stock of biotech Arena Pharmaceuticals is up 62.59% to $5.95 this morning (May 11) on news that a panel of experts recommended approval of the company's obesity pill. However, there is still concern about the side effects of the pill, lorcaserin. The stock started the year at $1.92. Some analysts believe that the panel's approval may lead to the Food and Drug Administration approving lorcaserin. There are three companies working on obesity treatments. Another of them is San Diego's Orexigen Therapeutics. Its stock is up 10.75% to $3.71 this morning.