Published October 5, 2015 4:32pm EDT | Updated October 5, 2015 5:04pm EDT

Arena Pharma Shares Tick Higher As CEO Retires

Arena Pharmaceuticals Inc. shares rose in the extended session Monday following an announcement by the company its chief executive was retiring. Arena shares advanced 5.1% to $2.26. The drug developer said co-founder Jack Lief was retiring as president and CEO, and that Harry Hixson will serve as interim CEO. Arena said it will initiate a search for a new CEO immediately.