CANNAINVESTOR Magazine August 2016 - Page 62

*APD371

-Favorable results were reported in April from a Phase 1b multiple-ascending dose clinical trial of APD371, a highly selective and full agonist of the cannabinoid 2 (CB2) receptor.

-APD371 will next be evaluated in a Phase 2 clinical trial for the treatment of pain associated with Crohn's disease. The Company anticipates initiating the trial in early 2017.

*Favorable results were reported in April from a Phase 1b multiple-ascending dose clinical trial of APD371, a highly selective and full agonist of the cannabinoid 2 (CB2) receptor.

*APD371 will next be evaluated in a Phase 2 clinical trial for the treatment of pain associated with Crohn's disease. The Company anticipates initiating the trial in early 2017.

*Ralinepag (APD811)

-Ralinepag is currently being evaluated in a Phase 2 clinical trial for pulmonary arterial hypertension (PAH).

-The Company expects Phase 2 data mid-year 2017.

*Ralinepag is currently being evaluated in a Phase 2 clinical trial for pulmonary arterial hypertension (PAH).

*The Company expects Phase 2 data mid-year 2017.

Collaborations Update

*Eisai, Ltd. and Eisai Inc.

-In connection with two regulatory approvals subsequent to the second quarter, Arena will receive $11.0 million in milestone payments from Eisai:

-On July 14, we announced the Federal Commission for the Protection Against Sanitary Risk (COFEPRIS) approved lorcaserin HCl in Mexico. The product will be sold under the brand name VENESPRI®.

-On July 19, we announced the U.S. Food and Drug Administration (FDA) approved the New Drug Application (NDA) for BELVIQ XR® (lorcaserin HCl) CIV extended-release 20 mg tablets.

Corporate Update

*Kevin R. Lind appointed as Executive Vice President and Chief Financial Officer, effective June 15, 2016.

*U.S. workforce reduction announced, primarily in the areas of discovery research, manufacturing and administrative functions to focus the

organization on its proprietary clinical pipeline.

The Company estimates a reduced annualized cash

expenditure of approximately $23-$25 million. In July, the

Company also reduced the workforce in Arena GmbH,

primarily in the areas of manufacturing and G&A. The

Company estimates this will result in an additional reduced

annual cash expenditure of approximately $2.1 million.

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