Arena Pharmaceuticals (ARNA) - Sept 16 panel weighing in on obesity market

Arena Pharmaceuticals is up next in front of picky FDA advisory committee with its potential weight loss blockbuster, Lorcaserin.  This will be a spotlight event as Arena's strong rival, Vivus Inc. (VVUS), failed to gain confidence within the advisory members last month with it's obesity drug candidate, Qnexa.

Recent dip in Arena's stock presents a great late entry for those wanting to play the last last minute run-up before  the panel gathering next THUR (Sept 16).  This will be a lightening fast trade as I never hold my position past the actual catalyst event.  My current buy target is $6.65.  While this is ambitious given ARNA's recent movement between ~$6.60 and ~$7.30, I feel like the only way to gain from the stock last minute is to be aggressive on low entry, which will produce positive return on any catalyst-driven spikes.