Arena Pharmaceuticals' (ARNA) most advanced and unlicensed medication, sphingosine 1-phosphate (S1P) receptor molecule etrasimod, targets a wide spectrum of autoimmune and inflammatory conditions. Management considers etrasimod:
unique and best-in-class. It is the only next-generation S1P modulator and has the potential to be the preferred oral option for patients suffering from a broad range of T-lymphocyte-mediated immune and inflammatory disorders such as IBD.
While it can be argued etrasimod is best-in-class compared to Celgene's (CELG) ozanimod and Novartis' (NVS) fingolimod, the claim of unique is a stretch.