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Arena Pharmaceuticals to Report Second Quarter 2008 Financial Results and to Host Conference Call and Webcast on Tuesday, August 5, 2008

Wednesday, July 30, 2008 General News J E 4
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SAN DIEGO, July 29 Arena Pharmaceuticals, Inc.(Nasdaq: ARNA) today announced it will report second quarter 2008 financialresults after the NASDAQ Global Market closes on Tuesday, August 5, 2008. Thatsame afternoon, Jack Lief, Arena's President and Chief Executive Officer, andRobert E. Hoffman, Arena's Vice President, Finance and Chief FinancialOfficer, will host a conference call at 5:00 p.m. Eastern Time (2:00 p.m.Pacific Time) to discuss the second quarter 2008 financial results and toprovide a corporate update.

The conference call may be accessed by dialing 877.419.6590 for domesticcallers and 719.325.4872 for international callers. Please specify to theoperator that you would like to join the "Arena Second Quarter Earnings Call."The conference call will be webcast live under the investor relations sectionof Arena's website at http://www.arenapharm.com, and will be archived therefor 30 days following the call. Please connect to Arena's website severalminutes prior to the start of the broadcast to ensure adequate time for anysoftware download that may be necessary.

About Arena Pharmaceuticals

Arena is a clinical-stage biopharmaceutical company focused ondiscovering, developing and commercializing oral drugs in four majortherapeutic areas: cardiovascular, central nervous system, inflammatory andmetabolic diseases. Arena's most advanced drug candidate, lorcaserin, is beinginvestigated in a Phase 3 clinical trial program for the treatment of obesity.Arena's broad pipeline of novel compounds target G protein-coupled receptors,an important class of validated drug targets, and includes compounds beingevaluated independently and with partners, including Merck & Co., Inc. andOrtho-McNeil Pharmaceutical, Inc.

Arena Pharmaceuticals(R) and Arena(R) are registered service marks of thecompany. "APD" is an abbreviation for Arena Pharmaceuticals Development.

Forward-Looking Statements

Certain statements in this press release are forward-looking statementsthat involve a number of risks and uncertainties. Such forward-lookingstatements include statements about Arena's strategy, internal and partneredprograms, and ability to develop compounds and commercialize drugs. For suchstatements, Arena claims the protection of the Private Securities LitigationReform Act of 1995. Actual events or results may differ materially fromArena's expectations. Factors that could cause actual results to differmaterially from the forward-looking statements include, but are not limitedto, clinical trials and studies may not proceed at the time or in the mannerArena expects or at all, the results of clinical trials or preclinical studiesmay not be predictive of future results, Arena's ability to partnerlorcaserin, APD125, APD791 or other of its compounds or programs, the timing,success and cost of Arena's research, out-licensing endeavors and clinicaltrials, Arena's ability to obtain additional financing, Arena's ability toobtain and defend its patents, the timing and receipt of payments and fees, ifany, from Arena's collaborators, and Arena's ability to redeem with commonstock any outstanding shares of its series B convertible preferred stock.Additional factors that could cause actual results to differ materially fromthose stated or implied by Arena's forward-looking statements are disclosed inArena's filings with the Securities and Exchange Commission. These forward-looking statements represent Arena's judgment as of the time of this release.Arena disclaims any intent or obligation to update these forward-lookingstatements, other than as may be required under applicable law.Contacts: Jack Lief Mary Claire Duch President and CEO WeissComm Partners Media Relations David Walsey 212.301.7228
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