Here's Why Arena Pharmaceuticals Stock Is Plummeting Today
Shares of Arena Pharmaceuticals (NASDAQ: ARNA) are plummeting today, down by 22% as of 1:35 p.m. EST, after the biotech released data from a mid-stage study of etrasimod in patients with atopic dermatitis, commonly called eczema.
The bad news is the study failed. The good news is that there are some hints that etrasimod might be helping patients with eczema.
The study used the Eczema Area and Severity Index (EASI) as the primary endpoint. Using that measurement, there wasn't a statistical difference between either of the two dose levels of etrasimod compared to a placebo after 12 weeks of treatment.
Source Fool.com