Global Hunter Securities Starts ArQule (ARQL) at Accumulate; Tivantinib NSCLC Success is Key
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Price: $2.71 -2.52%
Rating Summary:
4 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
4 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade ARQL Now!
Global Hunter Securities initiates coverage on ArQule (NASDAQ: ARQL) with an Accumulate. PT $11.
Global analyst says, "ARQL is focused on the development of small molecule drugs for cancer. We believe the company’s lead drug candidate, tivantinib, for non-small cell lung cancer (NSCLC), represents a promising new therapy for 2nd-line and later therapy. ARQL and partner Daiichi Sankyo are currently conducting a phase III trial in 2nd-line non-squamous cell NSCLC, with interim data possible in 2012. The trial is being conducted under an FDA Special Protocol Assessment (SPA) and the companies have guided to an approximate completion date in the 2013 timeframe. If successful, we would anticipate market entry for tivantinib in the 2014-2015 timeframe. We estimate sales could reach approximately $420MM in 2017. Aside from the NSCLC phase III data, nearer-term catalysts include phase II data for tivantinib in second-line liver cancer, expected in 2H11, as well as second-line colorectal cancer data, expected in 1H12. In addition, various phase I combination studies are ongoing, with phase II decisions expected over the next 12 months. At current levels we believe ARQL shares do not fully reflect the combined potential of the tivantinib program and the company’s other pipeline assets."
For more ratings news on ArQule click here and for the rating history of ArQule click here.
Shares of ArQule closed at $6.51 yesterday, with a 52 week range of $3.75-$7.83.
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Global analyst says, "ARQL is focused on the development of small molecule drugs for cancer. We believe the company’s lead drug candidate, tivantinib, for non-small cell lung cancer (NSCLC), represents a promising new therapy for 2nd-line and later therapy. ARQL and partner Daiichi Sankyo are currently conducting a phase III trial in 2nd-line non-squamous cell NSCLC, with interim data possible in 2012. The trial is being conducted under an FDA Special Protocol Assessment (SPA) and the companies have guided to an approximate completion date in the 2013 timeframe. If successful, we would anticipate market entry for tivantinib in the 2014-2015 timeframe. We estimate sales could reach approximately $420MM in 2017. Aside from the NSCLC phase III data, nearer-term catalysts include phase II data for tivantinib in second-line liver cancer, expected in 2H11, as well as second-line colorectal cancer data, expected in 1H12. In addition, various phase I combination studies are ongoing, with phase II decisions expected over the next 12 months. At current levels we believe ARQL shares do not fully reflect the combined potential of the tivantinib program and the company’s other pipeline assets."
For more ratings news on ArQule click here and for the rating history of ArQule click here.
Shares of ArQule closed at $6.51 yesterday, with a 52 week range of $3.75-$7.83.
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