NEW YORK, NY / ACCESSWIRE / April 19, 2017 / The Biotech Industry has continued to outperform the major indexes in 2017. This comes as a welcome sign to biotech investors after a tumultuous 2016. The iShares NASDAQ Biotechnology Index ETF and the SPDR S&P Biotech ETF have posted year-to-date gains of 8.4 percent and 14.63 percent, respectively, compared to gains of 3.85 percent and 4.62 percent for the Dow Jones Industrial Average and the S&P 500 Index.

RDI Initiates Coverage on:

Arena Pharmaceuticals, Inc.
https://ub.rdinvesting.com/news/?ticker=ARNA

Cytokinetics, Inc.
https://ub.rdinvesting.com/news/?ticker=CYTK

Arena Pharmaceuticals' shares dropped 13.51 percent to close at $1.28 a share on Tuesday. The stock traded between $1.20 and $1.29 on volume of 26.62 million shares traded. On April 17th, the company announced a public offering of 60 million shares of its common stock at a price of $1.15 per share. Arena plans to use the net proceeds for clinical and preclinical development of drug candidates, general corporate purposes, including working capital and costs associated with manufacturing services, and capital expenditures. Arena reported a loss of $0.09 a share on revenues of $124 million in 2016, compared to a loss of $0.45 a share on revenues of $38.3 million reported in 2015. Shares of Arena Pharmaceuticals declined 9.86 percent year-to-date.

Additionally, Arena announced it will be presenting three data presentations on etrasimod (APD334), a potential treatment for autoimmune diseases such, at the ASPET Annual Meeting at Experimental Biology 2017. The conference is being held April 22-26 at McCormick Place Convention Center in Chicago, IL.

Access RDI's Arena Pharmaceuticals Research Report at:
https://ub.rdinvesting.com/news/?ticker=ARNA

Cytokinetics' shares spiked 10.21 percent to close at $12.95 a share on Tuesday. The stock traded between $12.60 and $13.40 on volume of 1.50 million shares traded. The company is scheduled to report results for the first quarter of 2017 after market close on Thursday, April 27th. On April 17th, S&P Dow Jones Indices announced that Cytokinetics Inc. will replace Cardinal Financial Corp. in the S&P SmallCap 600 prior to market open on Monday, April 24th. Shares of Cytokinetics have gained approximately 6.58 percent year-to-date.

Access RDI's Cytokinetics Research Report at:
https://ub.rdinvesting.com/news/?ticker=CYTK

Our Actionable Research on Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) and Cytokinetics, Inc. (NASDAQ: CYTK) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDInvesting.com