The FDA is set to review a drug made by Human Genome Sciences (HGSI) named Benlysta for treatment of lupus, a chronic inflammatory disease. In clinical trials the drug demostrated what was characterized as “marginal” effectiveness – which is more than enough for the desperate needs of lupus patients.

Arena Pharmaceuticals (NASDAQ: ARNA), Vivus Inc (NASDAQ: VVUS) and Orexigen Therapeutics Inc (NASDAQ: OREX) are developing drugs that battle obesity. With 1.6 billion people overweight worldwide, the first drug to gain FDA approval would go blockbuster with ease, rewarding shareholders handsomely.

Today’s stock chart scan highlights two companies with upcoming FDA decisions. Arena Pharmaceuticals (NASDAQ: ARNA) has an upcoming FDA panel on (9/15/2010) and has recently broke out of a declining wedge pattern. Expect some speculation and run-up heading into the panel. Questcor (NASDAQ: QCOR) is on the radar due to its PDFUA on (9/11/2010) and attractive looking chart.

Today’s stock chart scan includes Arena Pharmaceuticals (NASDAQ: ARNA) and Radware (NASDAQ: RDWR). Arena has been heavily traded up as investors anticipate favorable results for Lorcaserin at an upcoming FDA panel on September 16th, 2010. Information technology service provider Radware has made a huge move over the past year. Watch RDWR as it breaks out of its ascending triangle patter