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CTIC and HEB aren’t the only companies that are causing drama on IguanaBio. Arena Pharmaceuticals (ARNA) has drawn both bulls and bears into a fight lately.

ARNA stock took a hit back in April when the company’s weight loss drug, lorcaserin, met its endpoints, but failed to show a statistically significant placebo-adjusted weight loss difference. Investors tanked ARNA stock, which ARNA management and bulls said was a “misunderstanding” of the data by investors.

After the April crash, ARNA axed dozens of employees and said there were interested partners doing due diligence.

But, we did a number on the company and so did Derek Lowe (who got a beating on his blog and on ours – see the comments).

ARNA was up almost 30% today, however, after data presented at the American Diabetes Association (ADA) conference showed lorcaserin was able to help patients lose and keep off weight.

In the interview, ARNA CEO Jack Lief talked with CNBC at ADA and addressed the investor “misunderstanding.” He also confirmed that while potential parties are doing due diligence, they will most likely wait for the BLOSSOM data in September.

Here’s the video:

Oh, the drama!!!!

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