5 Million milestone payment, potentially up to 70 million in milestone payments AND
AstraZeneca began a pivotal trial with Array-invented selumetinib in patients with thyroid cancer in August 2013 and began a Phase 3 trial in patients with non-small cell lung cancer in October 2013. Two other wholly-owned drugs, ARRY-520 and ARRY-614, are also approaching Phase 3 or pivotal trial decisions which are expected by the end of 2013.
4 drugs in Phase 3 before year end and training @ 5.00 ? A STEAL at these levels IMO
Appears the market did not care or barely noticed the news. It is only a 5 million payment, a drop in the bucket given their 90 million cash burn rate. Most stocks spike on a phase 3 announcement Arry a yawn because it is licensed out, as such they are giving away most of the potential profits. Azn got a little pop though.
Phase 3 drugs are great, and Arry has two more potential phase 3 by years end, yawn, this is nice, phase 3 to market is still 2-3 years off IF a drug meets study goals. Arry has enough cash to last ONE year, so another bond or LIKELY stock offering is due mid 2014, this will keep a lid on share price.
So no rush to load the boat on Arry it is looking like 2016 before any real cash flow. I think it could more than double but not until successful completion of one of these phase 3 studies. Prior to that point given the tiny market cap Arry will be a buy out target given the over billion in owed milestone/royalty packages. Royalties possible Genentec = 685m, Novartis = 408m. Genentec or Novartis would likely buy Arry rather than pay theroyalties
Just my take, Long a small initial stake in arry, and hoping for the November dip below 5.00 to add.
I guess you weren't BSing RON , my bad . keep the great news coming. As we wait for the other 2 drugs to go into phase 3 before EOY, we will also wait for their "large" milestone payments :) thanks again RONNY