With an FDA panel review looming in the fall, Arena Pharmaceuticals has finally hammered out a U.S. licensing pact for its weight drug lorcaserin with Japan's Eisai, and the big payoff is slated to arrive after a potential approval. Arena's stock price (ARNA) surged 20 percent on the news this morning, giving investors a chance to register their satisfaction with the numbers, which arrive late in the development game.
The complex deal package includes $50 million up front, up to $160 million in...