Shares of Arena Pharmaceuticals (NASDAQ: ARNA) soared 80% on Monday after the drugmaker struck a merger agreement with Pfizer (NYSE: PFE) .
Arena is a clinical-stage company focused on developing treatments for immuno-inflammatory conditions. It has a promising pipeline of drug candidates in areas such as gastroenterology, dermatology, and cardiology.
Perhaps most promising is Arena's experimental oral therapy etrasimod. Clinical trials are underway to evaluate etrasimod for the treatment of ulcerative colitis, Crohn's disease, and other ailments.
For further details see:
Why Arena Pharmaceuticals Stock Skyrocketed 80% Today