Arena slims down 25%, and stretches work-out schedule for FDA on lorcaserin

Arena Pharmaceuticals has reported that it will be eliminating about a quarter of its US workforce, or about 66 positions, in order to cut costs. It also disclosed that satisfying the demands of the US FDA for new data on its embattled weight-loss drug lorcaserin may take longer that the investment community had anticipated until now.

The exact studies need to be worked out with the regulator, although Arena president, Jack Lief, said that the firm now has a "greater understanding" of the FDA's position on what might be needed for a resubmission and ultimately a marketing approval