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Watchlist Update: 5-21-2019 - Array BioPharma - Analyst Comments/Drug News

TIGER'S TAKE:  On our trading list and had positive drug news today and the stock has become a rocket! :-)

UP over 20%+ Today - $ARRY


Array BioPharma price target raised to $35 from $28 at Piper Jaffray

Piper Jaffray analyst Edward Tenthoff raised his price target for Array BioPharma to $35 from $28 and maintained an Overweight rating after the Phase III BEACON trial of MEKTOVI, BRAFTOVI and Erbitux in previously treated BRAF-mutant colorectal cancer met the primary endpoint with median overall of 9.0 months vs. 5.4 months. The doublet of BRAFTOVI and cetuximab also met significance with mOS of 8.4 months and objective response rate of 20.4%, Tenthoff tells investors in a research note. Array intends to file for sNDA in 2nd-line CRC in the second half of 2019, but Tenthoff says that with Breakthrough Designation and no approved therapies, he believes these data could enable TripleRx accelerated approval in the U.S. next year.

Source:  (thefly.com)


Array BioPharma: Phase 3 BEACON CRC trial met primary endpoints

Array BioPharma announced positive results from the interim analysis of the Phase 3 BEACON CRC trial evaluating the combination of BRAFTOVI, MEKTOVI, and ERBITUX in patients with BRAFV600E-mutant metastatic colorectal cancer, following one or two prior lines of therapy. The trial met both primary endpoints of confirmed objective response rate, as assessed by Blinded Independent Central Review, and overall survival. Array intends to submit these results of the BEACON CRC trial for marketing approval in the second half of 2019. Results from the trial showed that BRAF-mutant mCRC patients treated with the BRAFTOVI Triplet demonstrated a statistically significant improvement in ORR (26.1% vs. 1.9%), and OS (median 9.0 months vs. 5.4 months), compared to cetuximab plus irinotecan-containing regimens.

Source:  (thefly.com)


$ARRY, ARRAY BIOPHARMA INC / H1


Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal.

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