If you copy and paste the quote in google, you see it's a quote on Janssen's website and it refers to all their drugs, not any specific one. Nothing to get excited about.
Per the 10K, ARRY was awarded a number of shares of preferred stock from Loxo equal to 19.9% interest in Loxo for the licensing rights to Loxo-101. When Loxo went public, those preferred shares were converted to 1.6 million common shares and promptly sold by ARRY for $20.8 million. So basically, ARRY got $21 million for their equity position, they receive $6-7 million a year from Loxo to pay for FTEs related to drug development, they'll get milestones in the single-digit millions and should Loxo bring Loxo-101 to market, ARRY will receive mid-single-digit royalties. Not a good deal.
You're counting that as news? Go play in traffic and leave this message board to the grownups.
On another note, I'd about given up on the drugs that ARRY partnered on with Aslan and VentiRX because of a lack of news. It was nice seeing VentiRX announce a combo trial involving ARRY's TLR and a big pharma company's checkpoint inhibitor last week. Also very cool to see all the updates on the Aslan website and check out the five combo trials they're doing with ARRY's ASLAN001.
Celator is working on a combo of selumetinib and ipatasertib (October 2015 PR) with promising preclinical results. I've tried emailing ARRY's IR for more details but they've never responded because they're worthless.
You seem pretty knowledgeable about what's going on with ARRY, so I'll try you. I emailed these questions more than a month and a half ago to IR, and got no response.
First, Celator's nanoparticle of Selumetinib and Ipatasertib: did Astra Zeneca and Genentech provide the drugs for Celator's testing, or did Array? Is this something Array signed off on? Is this a possible source of revenue for Array down the line, or would the revenues go to Astra Zeneca and Genentech? I'm curious as to why this isn't on the 10-Q. Is it immaterial?
Secondly, I don't remember there ever being a press release regarding Array's collaboration with Mirati. Maybe $1.6 million upfront is the kind of change Array's management finds in their couch cushions, but it gets my attention. My impression is that it's kind of serious if Mirati paid $750K to extend the research. Would it be possible to ask what area this target is in? Pain? Asthma? Oncology? Also, would you be able to provide a ballpark figure from 1 to 100 on the chances of this project moving on to a human trial?
Thirdly, it's been almost a year and a half since Array announced an agreement with Biogen Idec to develop inhibitors targeting a novel kinase for the treatment of autoimmune disorders. How is that going? Is an announcement regarding that collaboration forthcoming soon?
Next, same questions for the inflammation program with Celgene (more than two years since that was announced). Will any information be provided on this soon?
Finally, will there be anything to announce regarding trying Selumetinib for Kaposi's Sarcoma? Also, a couple of years back, the University of Colorado Cancer Center asked if Array had anything to target NTRK1 with, and they did. Is that something Array is pursuing?
Would appreciate any answers to the above questions.
No "probably" in either instance from the transcript below.
I’m now on Slide 19 where I would like to summarize the key upcoming catalyst for Array across our entire portfolio and as I mentioned earlier, with enrollment complete for both NEMO and COLUMBUS we do remain on track for both Binimetinib and Encorafenib regulatory submissions in 2016 and we expect topline NEMO data later this year and COLUMBUS results in mid 2016.
Now moving on to our Phase 3 programs earlier this spring, the NEMO and NRAS mutant melanoma patients complete enrollment. With enrollment complete, we expect topline results by the end of the year and can reaffirm a projected regulatory filing during the first half of 2016.
You saw what they said on twitter, eh? NEMO data pushed back to May of 2016 right after Ron said on the CC November 4th that they expected topline data before the end of 2015.