LOTS of press, and more investors/money coming our way.
Array BioPharma Inc. (ARRY) said a study showed its drug candidate, ARRY-502, improved a measure of lung function for people with mild to moderate persistent allergic asthma.
Shares recently jumped 17% to $6.49 premarket as Array said results from a Phase 2 trial indicated ARRY-502 achieved the primary endpoint of significantly improving pre-bronchodilator forced expiratory volume in one second. The stock has climbed 49% so far this year through Monday's close.
ARRY-502 also was well tolerated with fewer side effects, when compared to a placebo.
Secondary efficacy endpoints in the proof-of-concept study were also achieved, including reduced short-acting beta agonist use; asthma control; forced vital capacity improvement; symptom-free days during treatment; and improvement in rhinasthma and asthma quality of life questionnaires.
"There remains a significant need for more convenient, safe and effective therapies for patients with persistent allergic asthma," said Sally Wenzel, lead investigator of this trial and professor of Medicine and director of the Asthma Institute at the University of Pittsburgh. "ARRY-502 is the first oral non-steroidal drug since [Merck & Co.'s (MRK) Singulair] to demonstrate clinically meaningful activity in allergic asthma and represents a potential new oral therapy that may meet these needs."