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News Breaks
November 6, 2012
14:53 EDTARRYArray BioPharma to present positive Phase 2 data on ARRY-797
Array BioPharma announced that an abstract discussing the final Phase 2 trial results with ARRY-797 in patients with osteoarthritis pain will be presented at the 2012 American College of Rheumatology Annual Meeting in Washington, D.C. This abstract includes data on ARRY-797's analgesic effect and markers of disease modification. In addition, biomarkers of cartilage (COMP) and bone (CTX I) degradation were assessed. ARRY 797 treatment resulted in statistically significant decreases in COMP and CTX I at week 4 (decreases of 10% and 38% versus placebo, respectively). The decrease in CTX I was sustained and returned to baseline by the follow up visit. The abstract concludes that further evaluation of the potential for disease modifying activity is warranted.
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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