Obesity Drug Arena's Heavy Burden

Arena Pharmaceuticals(ARNA Quote) carries a heavy burden.

Not only is the San Diego-based drug company under pressure to produce boffo results from a phase III study of its obesity drug later this month, but Arena's drug also must find a way to free itself from the dark and costly legacy of the fen-phen diet pill tragedy of the 1990s.

Arena's obesity drug is known as lorcaserin. Investors will get a first look at lorcaserin's ability to shed pounds -- and do it relatively safely --when Arena announces results from the first of two, phase III studies at the end of March. Data from the second phase III study are expected in the fall. ...