Old news, but I was very surprised when I read that. The FDA usually looks askance at treatments that provide a progression-free survival advantage but no overall survival advantage. I was thinking Array would get ODD for thyroid cancer with all the compassionate-use requests I saw. Hopefully, ODD for thyroid cancer will happen soon, but ODD for uveal melanoma is nice, too.
VentiRx is under the radar but recently getting orphan drug designation from European Commission for ARRY's motolimod in combination with pegylated liposomal doxorubicin as an ovarian cancer treatment is nothing to sneeze at. The combo received fast track designation from the FDA for the same disease last September, too. Array had the option to buy a 50% ownership position in any drug developed under this agreement, but Celgene liked this drug so much that they decided they wanted in on it, too, and paid $35 million upfront and agreed to help pay for the clinical trials.
Oncothyreon's stock had a nice runup today, but with a roughly $150 million market cap, I think it's ridiculously cheap considering PBYI has a $6 billion market cap. ONTY's HER2+ drug is only in Phase I and PBYI's neratinib is at the NDA stage, but patients on ONT-380 have much fewer adverse events because the drug targets HER2 very specifically.
It's been about a year since Array announced a collaborations with Biogen and almost two years since the Celgene partnership was formed. Would be nice if Array provided an update for either one.
You have to be impressed with a company that licenses similar drugs targeting the same kinase to different big pharma companies not once (selumetinib and binimetinib) but twice (GDC-0575 and LY2606368).
Obviously, there's way more going on than that with ARRY, and it's a buy-it-and-forget-it stock for me. They have some very smart people working for them who have discovered some amazing drugs targeting a wide variety of diseases. Which is why I wasn't crazy about those layoffs announced back in August of 2013. Why mess with something that's working so well?
And for those morons braying on about a possible buyout: you're the kind of geniuses who would slice open the goose that laid the golden eggs, right?
To be technical, Duke genetically modified the polio virus and it was that that was injected in the patients, not the vaccine. ARRY isn't targeting GBM, but they have filanesib for multiple myeloma and possible competitiors are using the measles virus on MM with mixed results so far.
In August of 2013, I was very disappointed when I saw this news (google Array cuts 20 percent jobs; says Amgen ends partnership). So they let 20% of their workforce go less than 2 years ago and now they're bringing some of those jobs back. Doesn't look stupid at all. I'm an ARRY bull, but I've been coming around on agreeing with the folks who want Ron gone.