Bad Time to Take the Kids to the 4th of July Party!
ARQL got a bad draw of the cards by presenting on Saturday at ASCO. All the attendees where attending the fireworks at BMY, J&J, and Medivation......so ARQL was overlooked at the party, but finally today the good folks at Oppenheimer got around to putting a little wind at our back...
Oppenheimer Discusses Compelling Data from ArQuel (ARQL) at ASCO
8:16 am ET 06/04/2012 - Street Insider
Oppenheimer commented on ArQule (NASDAQ: ARQL) following this weekend's ASCO noting compelling tivantinib ph.II 2nd-line HCC results.
The firm comments, "The ph.II trial met the primary PFS endpoint, and tivantinib demonstrated significant TTP/PFS/OS benefit (HR=0.43/0.45/0.38) vs. placebo in the high c-MET expression subpopulation (~50% of pts), which, importantly, was a prespecified analysis. Notably, grade ¾ neutropenia was low (6%) at the 240mg, go-forward dose. Based on these results, we see a clear path to ph.III success, but ARQL currently reflects no value for this opportunity."
The firm maintained their Outperform rating and price target of $11.00