Array Biopharma Inc (NASDAQ:ARRY) Reveals Positive Phase-II Data Of ARRY-502

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Dallas, Texas 03/20/2014 (FINANCIALSTRENDS) –  Array Biopharma Inc (NASDAQ:ARRY), a bio-pharmaceutical company, recently revealed results from a Phase-II trial of ARRY-502 in patients suffering from Th2-Driven Asthma. The data was revealed at the 2014 American Academy Of Allergy, Asthma & Immunology (AAAAI) Annual Meeting.

According to the company’s data, the oral CRTh2 antagonist, ARRY-502, was studied in 184 patients in its Phase-II trial, which covered patients suffering from mild to moderate persistent allergic asthma. About 12 million people are suffering from this kind of asthama in the United States alone. The data showed positive results, claimed the company, and met its primary goal in the trial. Array Biopharma said secondary efficacy endpoints also achieved statistical significance.

ARRY-502, overall, was well tolerated, and there were no serious adverse events in patients receiving the oral drug. “From these data, ARRY-502 shows robust activity in patients with Th2-driven mild-to-moderate asthma,” said Sally Wenzel M.D., Professor of Medicine and Director of the Asthma Institute at the University of Pittsburgh and lead investigator of this trial.  “Furthermore, as the Th2 signature spans disease severity, ARRY-502 has the exciting potential to provide benefit to patients suffering from severe, corticosteroid-insensitive asthma.”

“We are seeking an appropriate partner to develop ARRY-502 to its full potential,” said Ron Squarer, Chief Executive Officer of Array.

The company last released its earnings results on February 4th. The company reported $0.13 loss per share for the quarter, compared to $0.10 loss per share reported last year. Array Biopharma Inc (NASDAQ:ARRY)’s revenue was $14.10 million for the quarter, compared to the consensus estimate of $13.49 million. The quarterly revenue was down by 23.4 percent year-over-year. Analysts expect that the company will report $0.69 loss per share for the current fiscal year.