Arena Pharmaceuticals Inc. released its results for fourth quarter and full year ended December 31, 2009. The company posted a narrower loss in the fourth quarter of the fiscal. The narrower loss was mainly attributable to the reduced research and development expenses.

The company reported a net loss of $29.8 million or 32 cents per share, while in the same period last year the company posted a net loss of $62.5 million, or 84 cents per share. The net loss of the fourth managed to meet the expectations of the analysts as they were expecting a net loss of 31 cents per share. Total revenue for the quarter was reported to $2.68 million, decreasing marginally compared to the same period last when the total revenue was reported of $2.70 million. Market analysts estimated the revenue of $3.45 million for the period.

For the full year 2009, Arena reported a net loss of $153.2 million or $1.82 per share available to the common stockholders, while the company reported a net loss of $239.5 million, or $3.24 per share in FY 2008.

Arena also said that the company is planning to launch its weight loss drug, lorcaserin, soon. The company said that it will launch the drug within 12 weeks of U. S. Food and Drug Administration's approval.

"We will certainly be ready to launch either with a commercialization organization or on our own within 12 weeks of hitting the go button," said Jack Lief, Chief Executive Officer of Arena.