Arena Pharmaceuticals Inc.'s S1P receptor modulator etrasimod is ready to move into Phase III after the company reported much-anticipated positive results from the Phase II OASIS clinical trial in ulcerative colitis – an indication where Celgene Corp.'s competing drug ozanimod already is in Phase III.
San Diego-based Arena, continuing to advance its in-house programs after giving up hope of commercial success for obesity drug Belviq (lorcaserin), believes that its selective S1P modulator has