SAN DIEGO, June 16, 2015 /PRNewswire/ -- Arena
Pharmaceuticals, Inc. (NASDAQ: ARNA) announced today that
Robert E. Hoffman, Senior Vice
President, Finance and Chief Financial Officer, has decided to
leave the company after nearly 18 years of service to pursue
another opportunity in the biotechnology industry. Mr. Hoffman is
expected to remain in his current role at Arena until July 10, 2015.
"Robert has been a valuable member of our management team and,
on behalf of myself and the company, I thank him for his years of
leadership and service to Arena," said Jack Lief, Arena's President
and Chief Executive Officer. "We wish Robert the best in his future
endeavors, and are focused on ensuring a smooth transition amid his
departure."
"I will always reflect fondly on my time at Arena, which
included the approval of our first commercial product,
BELVIQ® (lorcaserin HCl)," said Mr. Hoffman. "It has
been my pleasure to have had the experience to work with such a
talented and professional team."
Following Mr. Hoffman's departure, Jennifer K. Bielasz, Arena's Vice President,
Accounting and Controller, will continue to play a key leadership
role in Arena's finance department. Ms. Bielasz joined Arena in
2001 and is responsible for managing all accounting activities.
Prior to joining Arena, Ms. Bielasz served as the controller of
both public and private companies and began her career at KPMG
LLP.
About Arena Pharmaceuticals
Arena is embracing the challenge of improving health by seeking
to bring innovative medicines targeting G protein-coupled receptors
to patients. Arena's focus is discovering, developing and
commercializing drugs to address unmet medical needs, and
BELVIQ® (lorcaserin HCl) is Arena's first internally
discovered drug approved for marketing. Arena's US operations are
located in San Diego, California,
and its operations outside of the United
States, including its commercial manufacturing facility, are
located in Zofingen, Switzerland.
For more information, visit Arena's website at
www.arenapharm.com.
Arena Pharmaceuticals® and Arena® are
registered service marks of Arena Pharmaceuticals, Inc.
BELVIQ® is a registered trademark of Arena
Pharmaceuticals GmbH.
Forward-Looking Statements
Certain statements in this press release are forward-looking
statements that involve a number of risks and uncertainties. Such
forward-looking statements include statements about the timing of
Mr. Hoffman's departure from Arena, the transition related to
his departure and the continuing role of Ms. Bielasz; embracing the
challenge of improving health; seeking to bring innovative
medicines to patients; and Arena's focus, plans, goals, strategy,
expectations, research and development programs, and ability to
discover and develop compounds and commercialize drugs. For such
statements, Arena claims the protection of the Private Securities
Litigation Reform Act of 1995. Actual events or results may differ
materially from Arena's expectations. Factors that could cause
actual results to differ materially from the forward-looking
statements include, but are not limited to, the following: risks
related to commercializing drugs, including regulatory,
manufacturing, supply and marketing issues and the availability and
use of BELVIQ or lorcaserin; cash and revenues generated from
BELVIQ, including the impact of competition; the risk that Arena's
revenues are based in part on estimates, judgment and accounting
policies, and incorrect estimates or disagreement regarding
estimates or accounting policies may result in changes to Arena's
guidance or previously reported results; the timing and outcome of
regulatory review is uncertain, and lorcaserin may not be approved
for marketing in combination with another drug, for another
indication or using a different formulation or in any other
territory for any indication; regulatory decisions in one territory
may impact other regulatory decisions and Arena's business
prospects; government and commercial reimbursement and pricing
decisions; risks related to relying on collaborative arrangements;
the timing and receipt of payments and fees, if any, from
collaborators; the entry into or modification or termination of
collaborative arrangements; unexpected or unfavorable new data;
nonclinical and clinical data is voluminous and detailed, and
regulatory agencies may interpret or weigh the importance of data
differently and reach different conclusions than Arena or others,
request additional information, have additional recommendations or
change their guidance or requirements before or after approval;
data and other information related to any of Arena's research and
development may not meet regulatory requirements or otherwise be
sufficient for (or Arena or a collaborator may not pursue) further
research and development, regulatory review or approval or
continued marketing; Arena's and third parties' intellectual
property rights; the timing, success and cost of Arena's research
and development; results of clinical trials and other studies are
subject to different interpretations and may not be predictive of
future results; clinical trials and other studies may not proceed
at the time or in the manner expected or at all; having adequate
funds; and satisfactory resolution of litigation or other
disagreements with others. Additional factors that could cause
actual results to differ materially from those stated or implied by
Arena's forward-looking statements are disclosed in Arena's filings
with the Securities and Exchange Commission. These forward-looking
statements represent Arena's judgment as of the time of this
release. Arena disclaims any intent or obligation to update these
forward-looking statements, other than as may be required under
applicable law.
Contact: Arena
Pharmaceuticals, Inc.
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Media Contact: Russo
Partners
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Craig M. Audet,
Ph.D., Senior Vice President,
Operations & Head
of Global Regulatory Affairs
caudet@arenapharm.com
858.453.7200, ext.
1612
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David Schull,
President
david.schull@russopartnersllc.com
858.717.2310
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www.arenapharm.com
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SOURCE Arena Pharmaceuticals, Inc.