Arena Pharmaceuticals Inc. plans to sell 7.5 million of its common stock in an underwritten public offering.

The company plans to grant the underwriters an option to buy up to an additional 1,125,000 shares.

Citigroup, Leerink Partners, Cantor, Credit Suisse and RBC Capital Markets are acting as joint book-running managers, while Guggenheim Securities and JMP Securities are acting as co-managers for the offering.