Arena Trading Surges Ahead of Key FDA Drug Approval Decision

Arena Trading Surges Ahead of Key FDA Drug Approval Decision:
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SAN DIEGO (TheStreet) -- Arena Pharmaceuticals' share price and trading volume are sharply higher two weeks in front of an expected U.S. approval decision on the company's weight-loss drug.


Ninety minutes into Wednesday trading, more than 23 million shares of Arena have already traded hands with the stock up 7% to $8.42 -- a five-year high. Average daily volume in the stock is 16 million shares.

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