Jeffereis Comments on Array Biopharma, Inc. (ARRY) Following ASCO Abstracts

Jefferies analyst Eun K. Yang, Ph.D commented on Buy-rated Array Biopharma, Inc. (NASDAQ: ARRY) following the company's ASCO abstracts.

Yang highlights: Encouraging activity in a small Phase 1b/2 study for Array BioPharma’s (ARRY, Buy) MEK inhibitor binimetinib (MEK162) in combination with CDK4/6 inhibitor LEE011 in NRAS-mutant melanoma.

He comments, "As of data cutoff date of 12/20/13, in a Phase 1/2 study in NRAS-mutant melanoma (n=14), binimetinib + LEE-11 showed ~86% (n=12/14) disease control as measured by DCR (CR+PR+SD), including n=6/14 PRs (1 confirmed & 5 unconfirmed) and n=6 stable disease (4 with tumor shrinkage >20%). Binimetinib was administered 2x daily continuously, and LEE011 was 1x daily for 12 days of each 28-day cycle. In previously reported data at ASCO 2012, in Ph2a for binimetinib + dacarbazine, DCR was ~68% (n=19/28)."

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