On Monday, Shares of Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), gained 11.16% to $2.39.
Eisai Inc. and Arena Pharmaceuticals, declared that the U.S. Food and Drug Administration (FDA) has accepted for filing the New Drug Application (NDA) for an extended release formulation of lorcaserin. If approved, the extended release formulation will offer patients a chronic weight administration treatment in a once-daily dosing option.
Lorcaserin (sold under the brand name BELVIQ®) is presently approved as an adjunct to a reduced-calorie diet and raised physical activity for chronic weight administration in adults who have a body mass index (BMI) of 30 kg/m2 or greater (obese), or BMI of 27 kg/m2 or greater (overweight) with at least one weight-related medical condition, such as high blood pressure, high cholesterol, or type 2 diabetes. It is not known if BELVIQ is safe and effective when taken with other prescription, over-the-counter, or herbal weight loss products, nor is it known if BELVIQ changes the risk of heart problems or stroke, or death due to heart problems or stroke.
“The filing of this application by the FDA means they have made a threshold determination that it is sufficiently complete to permit a substantive review,” said Craig M. Audet, Ph.D., Arena’s Senior Vice President of Operations & Head of Global Regulatory Affairs. “This extended release formulation has the potential to offer patients once-daily dosing of lorcaserin, which can be an important addition to their chronic weight administration plan.”
Arena Pharmaceuticals, Inc., a biopharmaceutical company, discovers, develops, and commercializes novel drugs that target G protein-coupled receptors. The company offers BELVIQ, a drug used to treat chronic weight administration in adults.
Shares of Chico’s FAS, Inc. (NYSE:CHS), declined -2.83% to $12.00, during its last trading session.
Chico’s FAS, declared its financial results for the fiscal 2015 third quarter and thirty-nine weeks ended October 31, 2015.
For the thirteen weeks ended October 31, 2015 (“the third quarter”), the Company stated adjusted net income of $17.7 million contrast to adjusted net income of $28.9 million for the thirteen weeks ended November 1, 2014, and third quarter 2015 adjusted earnings per diluted share of $0.13 contrast to adjusted earnings per diluted share of $0.19 in last year’s third quarter. During the third quarter we signed a non-binding letter of intent to sell the Boston Proper direct-to-consumer (“DTC”) business. The third quarter adjusted results exclude net charges of $0.22 per diluted share in 2015 and $0.02 per diluted share in last year’s third quarter related to Boston Proper and restructuring and planned charges (the “Net Charges”), as presented in the accompanying GAAP to Non-GAAP Reconciliation. Counting the impact of the Net Charges, the Company stated a third quarter 2015 net loss of $11.6 million, or $0.09 per diluted share, contrast to net income of $26.5 million, or $0.17 per diluted share, in last year’s third quarter.
For the thirty-nine weeks ended October 31, 2015, the Company stated adjusted net income of $99.7 million contrast to adjusted net income of $101.2 million for the thirty-nine weeks ended November 1, 2014, and adjusted earnings per diluted share of $0.70 contrast to adjusted earnings per diluted share of $0.66 in the same period last year. The adjusted results exclude Net Charges of $0.54 per diluted share in 2015 and $0.03 per diluted share in the same period last year, as presented in the accompanying GAAP to Non-GAAP Reconciliation. Counting the impact of the Net Charges, the Company stated net income of $23.0 million, or $0.16 per diluted share, in 2015 contrast to net income of $96.5 million, or $0.63 per diluted share, in the same period last year.
Chico’s FAS, Inc. operates as an omni-channel specialty retailer of women’s private branded, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing items.
Finally, Shares of Paychex, Inc. (NASDAQ:PAYX), ended its last trade with 0.35% gained, and closed at $54.25.
As Small Business Saturday gets the holiday shopping season underway for small businesses later this week, Paychex, Inc., a leading provider of payroll, human resource, insurance, and benefits outsourcing solutions for small- to medium-sized businesses, is releasing the results of its latest Paychex Small Business Snapshot. The company’s latest research reveals less than half of business owners in the retail and restaurant/food and beverage industries are equipped to accept EMV chip credit cards.
EMV, which stands for Europay, MasterCard, and Visa, is a global standard for cards equipped with computer chips and the technology needed to authenticate chip-card transactions.
Priority to a major liability shift that took place on October 1, 2015, monetary losses resulting from fraudulent credit card use were absorbed by credit card issuers and payment processors, not merchants. Starting in October 2015, however, merchants will now accept some liability for fraud losses if they fail to implement EMV chip card terminals.
Paychex, Inc. provides payroll, human resource, insurance, and benefits outsourcing solutions for small to medium-sized businesses in the United States and Germany. The company offers payroll processing services that comprise the calculation, preparation, and delivery of employee payroll checks; production of internal accounting records and administration reports; preparation of federal, state, and local payroll tax returns; and collection and remittance of clients payroll obligations.