Arena PIII mega trial. Yes, 6000 patients. PIIIs for major indications are getting to be like building pyramids at Giza. What's really amazing is that Arena is doing a Little Red Hen act - funding the trial all by themselves. They estimate it will cost $125 million. Probably this is just a negotiating ploy, but they have the cash on hand to do it.
Can't believe there isn't more interest in Arena on the board. They are doing just what a biotech should:
1) Find a good technology to develop and screen targets. 2) Concentrate on major indications that big pharma will be interested in. 2) Hire armies of chemists to develop compounds. 3) Partner a few compounds with big reputable pharmas (J&J and Merck in this case). 4) Keep lots of money in the bank ($250 million for Arena) 5) Have an exciting lead drug candidate to keep investors interested. (safe Fen-Phen for Arena)
What more do you guys want?
I do have to admit it's hard to get excited about a two or three year PIII program. All this talk of filing and NDA in late 2009 is kind of depressing.
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