August 30, 2001 |
Securities firm Thomas Weisel Partners is firing 80 employees, mostly in investment banking, on expectations that the slump in business at the technology-focused securities firm will continue into next year, a company spokesman said Wednesday. San Francisco-based Weisel plans to fire the employees, about 10% of its staff, this week to reduce costs as fees from advising on mergers and arranging initial public offerings dry up, a company spokesman said.
May 11, 2005 |
Arena Pharmaceuticals Inc., a small San Diego biotechnology company, plans to announce today that overweight patients lost an average of 2.9 pounds after taking the company's experimental obesity pill for 28 days in a clinical trial. Chief Executive Jack Lief said the loss was comparable to what was seen with Abbott Laboratories' weight-loss drug Meridia in a month. A three-month study of Arena's drug, ADP356, is planned, Lief said.
September 16, 2010
This is not shaping up to be a good year for people seeking medical help for weight loss. A Food and Drug Administration advisory committee on Thursday voted against recommending approval of the drug lorcaserin. This is the third negative vote on prescription obesity drugs this year by the advisory committee. The committee voted, 9 to 5, agaianst recommending approval because the risks of the drugs outweighed the potential benefit of modest weight loss. Studies in animals showed the drug was associated with tumors, although an increased cancer risk has not been seen in human clinical trials.
March 18, 2008 |
Arena Pharmaceuticals Inc. has bet it can develop a drug from the same family as the notorious diet pill combination fen-phen -- and the gamble may be paying off. Arena, with a market value of just $465 million, is convinced it can make its obesity drug work without causing the heart damage associated with fen-phen. And on Monday, San Diego-based Arena said an interim safety review of a trial of the drug, lorcaserin hydrochloride, showed that it caused no heart safety problems after 12 months.
July 28, 2000 |
Five initial public offerings bucked a selling frenzy that swamped the technology-heavy Nasdaq on Thursday, as new fiber-optic and biotech issues lured investors with their growth prospects. The tech and health deals overcame a 3.7% tumble in the Nasdaq composite index as a spate of disappointing earnings shocked the market.