Time to buy Arena?

Nine months ago, Arena (ARNA) was the first lucky company to have its anti-obesity drug, Belviq, approved by the FDA. This has been the first such drug to get approved in the US in 13 years! You must think that Arena should have booked in tons of money by now and the stock holders must be smiling all the way to their banks. Shockingly, it is not all. Arena has until now not been able to sell this approved drug and earned any money yet. Why?
 
It is because of the U.S. Drug Enforcement Agency (DEA). Not many people understand that for drugs with an abuse potential, they must be approved by DEA before sales, after they first get the FDA approval. Belviq is unfortunately falling into this category. Thanks to the DEA, sales of Arena's Belviq are still on hold nine months after the FDA approval. As like any government bureaucratic agency, the DEA is in no hurry to review and approve the drug. As you can see the stock chart below, ARNA has been roughly trading in a narrow range between $7-10 in the past several months. And right now, it is at its low boundary around $8.

  

Rumors have been spread out these days that the DEA may finally issue its approval any day now. Of course, no one really knows for sure how long Arena has to wait but I figure now may be a good time to speculate by buying Arena. As you can see, unless Arena gets bad news from the DEA that the drug cannot be sold or with significant restriction, ARNA will not likely go down further from this trading range. If indeed the DEA approve its sales, I bet the ARNA share price will shot up to moon with an explosive jump. Although honestly I'm not so sure about its long-term fate for this drug, given almost all the anti-obesity drugs in the past have ended miserably due to their long-term safety concerns, at least initially the demand for Belviq should be huge. After all, according to the American Medical Association, over 30% of American adults are now obese, i.e. roughly more than 75 million people who weigh at least 20% more than they should. This should boost the company's bottom line immensely. It is estimated that Arena may reach over $1 billion in annual revenue with Belviq.

I don't think I will be a long-term investor for Arena but I'm quite interested in putting some money to speculate for Arena now.