On Tuesday, Following U.S. Stocks were among the “Top Gainers”: Pinnacle Entertainment, (NYSE:PNK), Seattle Genetics, (NASDAQ:SGEN), Arena Pharmaceuticals, (NASDAQ:ARNA)

• Pinnacle Entertainment, (NYSE:PNK), with shares inclined 6.74%, closed at $33.74, hitting new 52-week high of $33.98.
• Seattle Genetics, (NASDAQ:SGEN), with shares jumped 6.38%, settled at $37.16.
• Arena Pharmaceuticals, (NASDAQ:ARNA), with shares climbed 6.37%, and closed at $4.51.

Latest NEWS regarding these Stocks are depicted underneath:

Pinnacle Entertainment Inc. (NYSE:PNK)

Pinnacle Entertainment Inc. (PNK), confirmed that its Board of Directors has received an unsolicited proposal from Gaming and Leisure Properties, Inc. (GLPI) to attain Pinnacle’s real estate assets for GLPI shares as part of a taxable separation transaction.

Pinnacle’s Board of Directors and administration team are committed to acting in the best interests of all Pinnacle shareholders. Consistent with its fiduciary duties, Pinnacle’s Board, in consultation with its independent financial and legal advisors, will carefully review and evaluate GLPI’s proposal to determine the course of action that it believes is in the best interest of the Corporation and its shareholders.

As declared in November 2014, Pinnacle is pursuing a plan to separate the Corporation’s operating assets and its real estate assets into two publicly traded companies in a tax-free transaction. As formerly noted, the Corporation believes this separation will provide a lower weighted average cost of capital and an attractive financial platform to take advantage of future opportunities to create long term shareholder value within the casino gaming industry and the broader leisure and entertainment sector.

The Corporation noted that on January 16, 2015, it received from GLPI an indication of interest in pursuing a potential attainment of Pinnacle’s real estate assets. While Pinnacle’s Board did not view the projected transaction as likely to result in greater value to Pinnacle shareholders than the Corporation’s existing plan, in order to explore whether there was a path to a more attractive transaction, the Corporation indicated its willingness to engage in talk aboutions with GLPI under appropriate terms, which GLPI refused. On Friday March 6, 2015, the Corporation received an email from GLPI outlining revised projected terms for a transaction and a request for information. The Corporation advised GLPI that the Pinnacle Board would review the proposal and respond promptly, but GLPI decided not to wait for the consideration of Pinnacle’s Board.

Skadden, Arps, Slate, Meagher & Flom LLP and Gibson, Dunn & Crutcher LLP are acting as Pinnacle’s legal advisors, and Goldman, Sachs & Co. is serving as its financial advisor.

Pinnacle Entertainment, Inc. owns and operates 15 gaming entertainment properties, located in Colorado, Indiana, Iowa, Louisiana, Mississippi, Missouri, Nevada and Ohio. Pinnacle holds a majority interest in the racing license owner, in addition to a administration contract, for Retama Park Racetrack outside of San Antonio, Texas.

Seattle Genetics, Inc. (NASDAQ:SGEN)

Seattle Genetics, Inc. (SGEN), declared that administration will present at the following forthcoming investor conference:

Barclays Global Healthcare Conference: Wednesday, March 11, 8:30 a.m. Eastern Time, Miami.

Seattle Genetics is a biotechnology corporation focused on the development and commercialization of innovative antibody-based therapies for the treatment of cancer. Seattle Genetics is leading the field in developing antibody-drug conjugates (ADCs), a technology designed to harness the targeting ability of antibodies to deliver cell-killing agents directly to cancer cells.

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA)

Formerly on March 2, Arena Pharmaceuticals, Inc. (ARNA), offered a corporate update and stated financial results for the fourth quarter and full year ended December 31, 2014.

Arena Financial Update:

Raised about $100.7 million in net proceeds in the first quarter of 2015 through the sale of 21.0 million shares of ordinary stock at a price to the underwriters of $4.8139 per share.

Fourth Quarter 2014 Financial Results:

• Proceeds totaled $9.2 million, counting $3.8 million in net product sales of BELVIQ, of which $3.2 million represented 31.5% of Eisai’s net product sales and $0.6 million related to redemptions of the 15-day free voucher and product samples.
• Research and development expenses totaled $27.8 million.
• General and administrative expenses totaled $8.9 million.
• Net loss was $32.1 million, or $0.15 per share.
• At December 31, 2014, cash and cash equivalents totaled $163.2 million, not counting net proceeds of $100.7 million from the issuance of ordinary stock in the first quarter of 2015.
• At December 31, 2014, about 220.3 million shares of ordinary stock were outstanding, not counting 21.0 million shares of ordinary stock issued in the financing in the first quarter of 2015.

Arena is embracing the challenge of improving health by seeking to bring innovative medicines targeting G protein-coupled receptors to patients. Arena’s focus is discovering, developing and commercializing drugs to address unmet medical needs, and BELVIQ® (lorcaserin HCl) is Arena’s first internally discovered drug approved for marketing.

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