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News Breaks
November 5, 2012
10:21 EDTARRYArray BioPharma to present data at ASH meeting
Array BioPharma announced that data will be presented on two drug candidates, ARRY-520, a KSP inhibitor, and ARRY-614, a dual p38/Tie2 inhibitor, at the 2012 Annual Meeting of the American Society of Hematology. Array will also hold a conference call today at 4:30 p.m. ET, to review the abstracts. Early data from the ongoing combination with carfilzomib is reported in an abstract. In the ARRY-614 abstract, new formulation demonstrated improved bioavailability and inter-patient variability with in th ongoing study in low or intermediate-1 risk Myelodysplastic Syndromes, Array said. In its prior study in a similar population, the company said it observed a 38% response rate for hematologic improvement in patients receiving the highest dose of our prior formulation. At this dose, ARRY-614 demonstrated multilineage hematologic improvement in 67% of the responders, improving two or more cytopenia. Array intends to meet with the FDA to discuss the development plan to support registration.
News For ARRY From The Last 14 Days
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July 22, 2015
13:58 EDTARRYPiper cuts Array target by only 50c after failed trial
Piper Jaffray analyst Edward Tenthoff says selumetinib for Uveal Melanoma is a small indication and represented only a small part of his valuation for Array BioPharma (ARRY). As such, after partner AstraZeneca (AZN) announced that selumetinib failed in the Phase III trial, the analyst cut his price target for Array by only 50c to $14.50. The primary drivers for Array remain binimetinib and encorafenib in NRAS and BRAF melanoma and low-grade serous ovarian cancer, the analyst tells investors in a research note. He keeps an Overweight rating on the stock.
09:07 EDTARRYOn The Fly: Pre-market Movers
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05:12 EDTARRYAstraZeneca says Phase 3 study of selumetinib did not meet primary endpoint
AstraZeneca (AZN) announced that the Phase 3 SUMIT study of selumetinib in combination with dacarbazine for the treatment of patients with metastatic uveal melanoma did not meet its primary endpoint of progression free survival. This combination therapy showed an adverse event profile generally consistent with current knowledge of the safety profiles of dacarbazine and selumetinib. A full evaluation of the data is ongoing. Selumetinib is a MEK inhibitor in late-stage development, with a primary Phase 3 program in second-line KRAS-mutant advanced non-small cell lung cancer in combination with docetaxel. Selumetinib is also being investigated in a Phase 3 study in differentiated thyroid cancer and in a Phase 2 registration study in patients with neurofibromatosis Type 1. Selumetinib is an oral small molecule MEK inhibitor invented by Array BioPharma (ARRY) and licensed to AstraZeneca in 2003.

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