More than a third of U.S. adults are obese. The problem isn’t isolated in the U.S.; it’s a global issue. We all know the statistics and most people know the dangers. One of the ways to deal with the problem is through medication, and with this scale, some companies may make a lot of money.

ARNA_chart.pngOne of the pharmaceutical companies focused on obesity is Arena Pharmaceuticals, Inc. (NASDAQ:ARNA). Yesterday ARNA had a spectacular session rising 14.09% to a close at $8.26 on approximately 27 million shares – significantly above the average.

At this point identifying a reason for the surge would be pure speculation, although some have claimed it was due to “unconfirmed takeover chatter,” which basically means nothing.[BANNER]

ARNA is in an interesting situation with anticipation building around the DEA scheduling designation process of BELVIQ.

If the process is completed before the end of 2012 it would mean the drug will be available for sale in the United States, and $65 million milestone payments from Eisai, Inc. However, there are no new developments on that matter and when there are, that would still mean at least two more months before a final scheduling.

Additionally, the company has marketing authorization application under review in the EU and Switzerland, but the outcome for those territories will become clear in the fourth quarter, at the earliest.

The buyout speculation is hard to support at this time, because there are still quite a few uncertainties. Even if everything goes perfect with the DEA and the reviews in the UE and Switzerland, those are just milestones. BELVIQ being the only FDA approved product of ARNA, the future of the company largely depend on how the drug performs on the market.

ARNA_Logo.jpgWhatever the reason for the surge, shareholders of ARNA should be happy with yesterday’s performance. The developments around the company may also be interesting for people suffering from obesity, as BELVIQ could potentially be another weapon in their fight with the condition.