Arena Pharmaceuticals files $148.25 million stock shelf

By Laura Lutz

Des Moines, Aug. 31 - Arena Pharmaceuticals, Inc. registered $148.25 million of common stock in an S-3 filing with the Securities and Exchange Commission.

The registration covers 12.5 million shares, as well as related rights to purchase series A junior participating preferred stock.

The proceeds will be used for development of drug candidates, for discovery research for new drug candidates and for general corporate purposes.

San Diego-based Arena develops small-molecule drugs that target metabolic, central nervous system, cardiovascular and inflammatory diseases.

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