Cabot Small-Cap Confidential Special Bulletin

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Article Excerpt

Arena Pharmaceuticals (ARNA) yesterday announced that olorinab failed to meet the primary endpoint in the Phase 2 CAPTIVATE study in IBS abdominal pain. This is disappointing but not remotely the reason to own (or sell) the stock. IBS is a difficult to treat condition and when we got into Arena the programs with olorinab didn’t even exist.

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