Dallas, Texas 09/17/2013 (Financialstrend) -In Monday’s trading ArQule, Inc. (NASDAQ:ARQL) stock dipped 0.46%.The opening price of the shares was $2.20 which rose to an intraday high of $2.22 and dipped to close at $2.18. Approximately 0.393 million shares were traded on Monday and the average volume of shares traded over a 30 day period was 0.485. The company has a market cap of $136.74 million.
About the company
ArQule, Inc. (NASDAQ:ARQL) is a clinical-stage bio-tech company. It is involved in the R&D of cancer therapeutics. It utilizes technologies such as the ArQule Kinase Inhibitor-Platform in the designing and development of drugs. ARQ 197, its product is an orally-administered inhibitor of c-Met receptor-tyrosine kinase C-Met. It is a target for cancer-therapy, based on multiple roles in tumor-spread, cancerous-cell proliferation, new blood-vessel formation as well as resistance to some drug therapies.
It has licensed the ARQ 197 commercial-rights for use in human cancer-indications to Daiichi Sankyo in the U.S, South America, and Europe as well as across the globe, excluding Some Asian countries like Japan. In these countries it has licensed commercial-rights to Kyowa Hakko Kirin. In 2011 August Kyowa Hakko Kirin announced that it had initiated the Phase III ATTENTION trial of tivantinib to be used along with erlotinib.
The Company and Kyowa Hakko Kirin Co Ltd and Daiichi Sankyo Co, Ltd, its partners, are implementing a clinical-development program. This program has been designed to realize the broad-potential of ARQ 197 as a well-tolerated single agent as well as in combination with some other anti-cancer therapies in numerous disease indications.
These include a few non-small cell lung cancer or NSCLC, colorectal cancer, germ cell tumors and liver cancer and gastric cancer. ArQule, Inc (NASDAQ:ARQL)’s pipeline is directed toward numerous molecular targets as well as various biological processes These targets and processes have demonstrated their roles in the development of different human cancers.