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Actionable news in ARNA: Arena Pharmaceuticals, Inc.,

​Arena ARNA shares surge after hours following Phase 2 PAH data; Ocular OCUL submits amendment to DEXTENZA NDA

Price and Volume Movers

Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) shares have surged in the after-hours session, currently trading up 41% to $25.85 following the release of Phase 2 data of ralinepag for the treatment of pulmonary arterial hypertension (PAH). Ralinepag demonstrated a 29.8% improvement in pulmonary vascular resistance (PVR), the primary endpoint, compared to placebo (0.03). The trial did not meet a secondary endpoint of improvement in 6-minute walk distance (6MWD).

Ocular Therapeutix, Inc. (NASDAQ:OCUL) announced that it has submitted details of a manufacturing equipment change as an amendment to the New Drug Application (NDA) resubmission for DEXTENZA for the treatment of ocular pain following ophthalmic surgery. The company is requesting the FDA to consider the submission a major amendment and extend the current PDUFA date of July 19, 2017 by three months. Otherwise, it will be required to file a new NDA. Shares closed the normal trading session down 9% before gaining 12% to $7.24 following the news in the after-hours session.

Inotek Pharmaceuticals Corp (NASDAQ:ITEK) shares closed down 45% to $0.95. The slide in its share price follows news after-hours Friday of the failure of its Phase 2 trial of trabodenoson and latanoprost for the treatment of glaucoma.

Major price movers (stocks priced > $1.00, volume > 100k):

Refer to the BioPharmCatalyst...