here they are, and it looks very good:
or put in both company names and do a google news search
or, in brief:
In December, Oncothyreon replaced a co-development contract with Array bioPharma (NASDAQ: ARRY) with an exclusive license agreement to develop and commercialize ONT-380. ONT-380 is in three early-stage clinical trials as a combination therapy for the treatment of metastatic breast cancer, two Phase 1b trials sponsored by Oncothyreon and a Phase 1 trial being conducted by Harvard’s Dana-Farber Cancer Institute.
The companies do an even split I think
I'd much rather have the opportunity to co-develop a drug that has multi-billion dollar revenue potential than get $30 million in upfront payments and $280 million in possible milestone payments. Nice job, ARRY management!
You should by all means sell then. At the time this deal was made, it was a very good deal for Arry. Would they make this same deal today in light of what has transpired with Novartis? Not so sure. Selling a phase 1 study for 20 million up front, with no idea if the drug will pan out 6-7 years from now, is not a bad deal. Not when you are burning through cash, and have been forced to set up an ATM to fund ongoing phase studies. Not when you do not have the money to develop that drug today, next week, or next year. Initially Arry had to fund HALF the cost of 380, which they determined they could not AFFORD, so they reworked the deal to eliminate that cash burn. This deal was set up well before they got the NVS windfall, so hate it if you want, they did the right thing.
Were you upset with Frost when he SOLD half the rights to HGH? NO, thought not. Opk NEEDED the cash to fund studies, and buy assets, no difference here. Arry needed out of the expense, but retain a nice royalty and milestones. Sort of similar to Rolapitant that some might say Frost gave away. Fact is at that POINT in time, opk did not have the cash to develop the drug, a drug they got for pennies on the dollar, that might fail.
Loving all the arm chair ceo's that could do a far better job than those in charge.
Price of array will be up to 18 a share in no time with lots of potentials collaborations, partnership, milestone payments, revenues. What more can we ask for. ... I'll buy more monday
That deal posted above by bush is 2013, it was replaced in 2014, in essence, arry is not longer jointly developing the drug, picked up 20 million in cash, and has double digit royalties.
So ARRY has no more involvement, no more expense, but no longer co-owns the drug. Low teen Royalty and milestone payments.
Not sure how many miles you can get on a tank of P1b, 3rd line data. I would "sell the news " on any P1 data release of any biotech for that matter if it gets a significant POP. It will just drop back anyway in a few days/weeks then you can buy it back.
" Phase 1b trial of ONT-380 in combination with Xeloda(R) (capecitabine)and Herceptin(R) (trastuzumab) in third line treatment of HER2-positive metastatic breast cancer."
I am long on ARRY But think CEO is a light weight the BOD. Should have found a senior CEO And also retained. The R. &I D staff that was axed They are a target for ABBV Roche Lily or others Then Investors will profit. Greatly
with ASCO a lot of. Buy outs are ongoing If ARRY was Halted it could be on news of a buy out I don' t think RS demise would cause a halt on trading. ARRY. With pipeline has been in BigPharma Radar for some time
I read rumor several months ago that Abigail was coming mid year?
ARRY is worth $150/share with pipeline and Market cap
best in trades
so yu agree we need a NEW CEO ? Just like ARIA ?
I'm from the ONTY board - I have no position in ARRY - we were speculating over there as to what the share is. It's a little complicated with different deals for US vs international but the basic intent seems to be 50:50 profit split after costs. If ONTY is acquired ARRY gets $280M and double digit royalty stream. Hello partners.
nope up to "double digits" based on sales, old 2013 agreement was larger percentage but ARRY took 20 $ million upfront in new agreement end of 2014.