Steven Schoch Elected to Arena Pharmaceuticals Board of Directors

PARK CITY, Utah--(BUSINESS WIRE)--Arena Pharmaceuticals, Inc. (Nasdaq: ARNA) today announced the appointment of Steven Schoch to the Company's Board of Directors and as Chair of the Audit Committee. Mr. Schoch brings more than 20 years of financial and operational leadership and expertise across a range of areas in biopharmaceuticals, media, and technology, including building and scaling businesses and leading innovation.

"We are very pleased to have Mr. Schoch join our Board of Directors," said Garry Neil, M.D., Chair of the Board of Directors of Arena. "Steven brings both financial and strategic operational experience that will be of great benefit as Arena prepares for the next stage of growth."

Mr. Schoch currently serves as Chief Financial Officer at 23andMe, as position he has held since 2018. Prior to joining 23andMe, Mr. Schoch served as the Chief Executive Officer of Miramax Film NY, LLC from 2012 to 2017, while concurrently serving as Chief Financial Officer, a position he held beginning in 2010. From 2001 to 2010, Mr. Schoch held various senior financial positions at Amgen, Inc., including Corporate Controller and divisional Financial Vice President. He served as the Executive Vice President and Chief Financial Officer of eToys, Inc. from 1999 to 2001. Prior to eToys, Inc., Mr. Schoch held a variety of financial positions in the media industry, including at The Walt Disney Company and the Times Mirror Company. Mr. Schoch holds a B.S. in Civil Engineering degree from Tufts University and a M.B.A. degree from the Tuck School of Business Administration, Dartmouth College.

About Arena Pharmaceuticals

ARENA Pharmaceuticals is a team with a singular purpose – deliver important medicines to patients.

In a rapidly changing global market, we work with a sense of urgency every day to understand the needs of all our stakeholders, identify bold, sometimes disruptive, ideas to get medicines to patients, and relentlessly execute until it's done.

We are developing a richly diversified portfolio of therapeutic candidates targeting gastroenterology, dermatology and cardiology. Our pipeline includes four investigational medicines in eight indications and eleven ongoing or planned clinical trials. To fuel our growth, we are unlocking the value of our historical GPCR research with a sustainable discovery engine for broad portfolio expansion.

ARENA - Care More. Act Differently.

Forward-Looking Statements

Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements include, without limitation, statements about Mr. Schoch’s expected contributions, Arena's position, drive, portfolio, prioritization, financial position, team, and building of the company. For such statements, Arena claims the protection of the Private Securities Litigation Reform Act of 1995. Actual events or results may differ materially from Arena's expectations. Factors that could cause actual results to differ materially from the forward-looking statements include those disclosed in Arena'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-looking statements, other than as may be required under applicable law.