'Array' of Ph II Asthma Data Spurs Stock
Shares of Array Biopharma Inc. hit a 52-week high of $7.20 Tuesday morning after the company reported positive findings from its randomized Phase II trial of oral CRTh2 antagonist ARRY-502 in mild to moderate persistent allergic asthma. The compound hit the primary endpoint – significant improvement in pre-bronchodilator forced expiratory volume in one second (FEV1), compared to placebo – across the study population and in a predefined Th2 biomarker subset that represented half of treated patients.
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