Array Bio surges on positive results for first stage of melanoma combo PhIII
Shares of Array Biopharma $ARRY surged 29% Monday morning after the Boulder, CO-based biotech and its partners at Pierre Fabre in France said that the first part of their late-stage study for a combination BRAF/MEK enzyme inhibitor hit its primary endpoint.
The combo of encorafenib (LGX818) plus binimetinib beat out a solo BRAF inhibitor, Zelboraf (vemurafenib), with a median progression-free survival rate of 14.9 months vs. 7.3 months in the control arm for BRAF-mutant melanoma patients.
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