Array Biopharma Inc (NASDAQ:ARRY) Lull, Despite Asthma Phase 2 Trial Results


Dallas, Texas 04/09/2014 (FINANCIALSTRENDS) – Array Biopharma Inc (NASDAQ:ARRY) unlike some of the other stocks in this sector, had marginally better results to show for this week. Where the other biotechnology stocks were hitting new lows, here was ARRY notching up quite margins of 1.92% at the start of the opening session. However, by the close of trading session ARRY showed a drop of 0.24%, closing at $4.24.

Gains after Asthma product Phase 2 trials full results

Array Biopharma Inc (NASDAQ:ARRY), reported at the 2014 American Academy of Allergy, Asthma & Immunology or AAAAI, Annual Meeting, the full results of Phase 2 trials for its product ARRY-502, which is an oral CRth2 antagonist. The random study which was conducted among 184-patients was controlled through the use of placebo and also included randomized double-blind Phase 2 trial. The patients typically displayed asthma of the type caused by allergens where the type of asthma was mild to moderate conditions. In the US alone patients suffering from allergies-driven asthma is close to 12 million.

Array Biopharma Inc (NASDAQ:ARRY)based on the results of its lead products, the stock climbed higher by 1.92% and was seen to trade 2.11 million shares, following the positive perspectives of the results.

Small cap with immense upside

Array Biopharma Inc (NASDAQ:ARRY) currently has a market cap of $531.93 million. The infra-day prices for this stock ranged between $4.16 and $4.32. Whereas the 52-week price point for this stock price ranges between $4.02 and $7.10. The stock opened the trading session at $4.25 and has outstanding shares to the tune of 125.46 million.

However, the positive aspect of this share is in the equity ratio- reporting 307.40%, while the return assets are reported at 52.70%. Besides, Array Biopharma Inc. has a yearly performance of -15.00%.

Array Biopharma Inc (NASDAQ:ARRY) has also offered new options for trading, which will expire by May 17th.