SAN DIEGO (AP) — Arena Pharmaceuticals Inc. reported a smaller fourth-quarter loss Monday, but said it is still waiting for federal regulators to make a decision about the status of its weight loss drug Belviq.
The Food and Drug Administration approved Belviq on June 27, but the drug has not gone on sale yet. The Drug Enforcement Administration is proposing that Belviq be classified as a Schedule IV controlled substance, which means it has a relatively low potential for abuse. Arena and its partner Eisai Co. can't start marketing Belviq until that classification is approved. It's not clear when that will happen.
Arena said a public comment period on the DEA's proposed classification ended in mid-January. The company originally hoped for a final decision last year.
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