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ArQule Jumps on Positive Phase 1 Blood Cancer Trial Results

Tony Owusu

shares are up more than 35% Friday after the company announced positive phase 1 results from the trial of its orally bioavailable, potent and reversible dual inhibitor for patients with relapsed or refractory hematologic malignancies. "The profile of ARQ 531 continues to strengthen, and we are delighted to be able to demonstrate such compelling clinical activity at a well-tolerated dose in patients who have already exhausted available therapies," commented Dr. Brian Schwartz, Chief Medical Officer of ArQule. The phase 1 study is an open label, single arm dose escalation study with eight levels of dosage once a day in patients with relapsed or refractory chronic lymophcytic leukemia.