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Investing in the Biotech Sector: 5 Elements To Consider
When Arena Pharmaceuticals (Nasdaq: ARNA) released positive Phase III data on its obesity drug, Lorcaserin, many people expected shares to take off.
After all, the company’s press release on Monday confirmed that the drug had proven to be safe and effective.
But in a classic example of just how volatile and unpredictable the biotech sector can be, the stock slumped 28% instead. While the news was good on the surface, the problem was that Lorcaserin didn’t help patients lose 5% more of their body weight than placebo. The 5%…
31Mar2009 | Smart Profits Report | 1 comment | Continued
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