Array Biopharma (ARRY) Stock: Gaining Big On Clinical Results

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In the release, ARRY said that the estimated median progression-free survival in patients with the BRAFV6000E mutation was only about 8 months at the time of analysis. Nonetheless, the company showed a strong overall response rate in this population of 48% with 3 patients achieving a complete response.  Not to mention, the ORR in patients who received only one prior line of therapy was 62%. In the release, Array Biopharma said that the data represent substantial improvement when compared to several separate historical published standard of care benchmarks for this population. In a statement, Scott Kopetz, M.D., Ph.D., FACP, Associate Professor at the Department of Gastrointestinal Medical Oncology, Division of Cancer Medicine, The University of Texas MD Anderson Cancer Center, had the following to offer with regard to the results:

“We are very excited about these safety lead-in results, which show both an unprecedented progression-free survival and overall response rate in patients with BRAFV600-mutant colorectal cancer… To put these data in context, the observed median progression-free survival of 8 months exceeds historical benchmarks of approximately 2 months for median progression-free survival, and 4 to 6 months for median overall survival, with current standards of care in this patient population. These results demonstrate the potential of the triplet combination to benefit this population of patients who currently have very limited effective treatment options.”

What We’re Seeing From The Stock

As investors, one of the first things that we learn is that the news moves the market. In this particular case, the news released by Array Biopharma proved to be overwhelmingly positive. So, it’s no surprise that after releasing strong clinical results over the weekend, the stock is making a run for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently(8:39), ARRY is trading at $14.25 per share after a gain of $1.11 per share or 8.45% thus far today.

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