I'm just now becoming familiar with ARNA. Any thoughts? Is this a stock that you've been following?
Sergio:
As you know, ARNA is a biopharmaceutical company with a pipeline of small-molecule product candidates that target GPCRs.Their APD356,which is being developed for the treatment of obesity, is in a Phase II and is the one that was in the news and apparently caused the up-gap on Wednesday. <g>
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I have been following ARNA for the last 4 or 5 years.It is on the group of Biotechs that have traded below their BV and had a good amount of cash to burn.<g>
I remember that back in Aug.2001 Blue HP bougt some around $20 <g> Message 16167095
And bought more in Sep.2001 before their CC and in spite of a recent“downgrade”
Message 16299176
Back in Sep.2001 Tuck got a PM from a Biotech Guru who had a bad opinion on the company Message 16425240
In May2002 ARNA announced an agreement with Ferring Pharmaceuticals to focus on GPCR target in the field of reproductive biology, where Ferring had a significant development and marketing presence. Message 17535741
In Sep.2002 there was some reports on insiders and institutional buying. Message 17967770
And in Oct.2002 the Board of Directors was worried about a “hostile take over” and decided to adopt a "stockholders' rights plan".<g> Message 18179131
In Feb.2004 There were some in SI buying it."Volume has been triple average the last three days - Coincinding with rise in price." Message 19854719
On Feb.25 they announced a “$4 million milestone” related to animal testing of GPCRs, which may represent novel targets for cardiovascular disease, on which it had had been collaborating with Merck since October 2002
And as I mentioned,on May 11 they announced positive results from its PII of APD356 for the treatment of obesity.
biz.yahoo.com
For the three months ended On Mar. the revenues fell 24% to $4.4M (from $5.8M) and the loss was of $25M, up from $12.5M.($0.79/share vs.$0.49) They said that the revenues were lower because of reduced collaboration with MRK and the higher loss was because of increased expenses on their preclinical and clinical studies.
The cash is still around 166M ($4.70/share) and ARNA doesn’t have a significant LTD. The stock trades around 1.77x BV It has a negative Cashflow of 39M and the "Insiders" reportedly hold around 8%.
The stock hasn't closed the May 11 up-gap,the volume that day of 8,738,534 was significantly higher than the one on Dec.21 which was the day of its previous up-gap (Vol was 1,844,978)
The stock traded above its Jan. and Dec. Hs but the C on May 11 of 6.49 was below the Feb 14 H of 6.55 and the resistance at 6.80 (the Dec.23 and Jan.10 Hs)
It seems the thing to watch is if the stock will close its recent gap and can find support above the 6 level. The PSML & PS data on ARNA at present: 6.35 6.30 5.93 5.64 and 5.57 (All still on a near term UPTREND, but the stock closed yesterday at its intra-day L <g>)
The E-Loss for 2005 is $2.14/share and for 2006 $1.26/share
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RAGL
Bernard
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