Why is Daiichi terminating the agreement now if ARQ 092 data from the phase 1 trial will be presented at the AACR on April 9? If it looked like it was promising wouldn't they want to hold on until after the meeting and negotiate something for it?
Daiichi management is not sure what they want. Daiichi did not realize that it takes a lot of money and efforts to sell drugs in America.
If they want to continue ARQ 092 then they have to pay for it. Lately, all their investments had major problems starting with ARQL and Indian generic manufacturer Reggie. They might be looking for an exit for many of their deals starting with ARQ 092.
As for ARQL, they need Daiichi funding till the end of this year or early next and then ARQL can easily find another and much better partner.
This week, Tivantinib has to posters at AACR 2013. Both are quite interesting. By that time, NSCLC Marquee, Attentian, and KRASm trials will be over as well as NCI Ph2 trials in H&N, prostate, breast cancers.