Arena Pharmaceuticals Looks To Raise $150M In Stock Offering

San Diego-based biopharmaceuticals developer Arena Pharmaceuticals said on Tuesday that it is looking to raise $150.0M in a public offering. The company, which is already publicly listed on the NASDAQ as ARNA, said that Citigroup, Leerink Partners, Cantor Fitzgerald & Co. and UBS Investment Bank are acting as joint book-running managers for the offering, with JMP Securities as co-manager. Arena Pharmaceuticals is developing small molecule drugs, with its lead compoounds being aimed at treating pulmonary arterial hypertension (PAH), ulcerative colitis (UC), and treatment of pain associated with Crohn's disease.