ArQule watched its shares scrape the bottom last fall when it pulled the plug on a late-stage lung cancer drug, but rumors that the Woburn, MA, company is primed to release data that could revive tivantinib sent its stock price up as much as 19% on Friday.
After a pair of trial setbacks with a separate program from ArQule, Japan-based drugmaker Daiichi Sankyo has decided to jettison an alliance with the Woburn, MA-based drug developer on an early-stage compound known as ARQ 092.
ArQule ($ARQL) suffered another failure with its top anti-cancer contender tivantinib. This time the experimental kinase inhibitor fell short in a midstage study in patients with aggressive cases of colorectal cancer, a fresh setback in a program already injured from efficacy concerns.
At the beginning of this month ArQule shares tanked on the news that it had decided to shelve a late-stage study of tivantinib for non-small cell lung cancer after investigators concluded that the data pointed to a clear failure. But today the biotech got a little of its lost luster back with the news that it had agreed with regulators on the design of a new Phase III, landing a special protocol assessment on its program for liver cancer.
ArQule and its partner Daiichi Sankyo revealed some depressing news about their late-stage program for the closely watched cMET inhibitor called tivantinib or ARQ 197 in patients with non-small cell lung cancer.
Shares of ArQule ($ARQL) plunged this morning after its Japanese partner on the closely-watched cancer drug tivantinib alerted the biotech that it temporarily suspended enrollment in its Phase III trial for non-small cell lung cancer after spotting signs of lung disease in patients.
Any forward-looking student of the biotech industry will have to check out Adam Feuerstein's review in TheStreet of 22 Phase II and III clinical trials--21 drugs and one diagnostic test--which are expected to read out by the end of this year.
Later this week the cancer drug research crowd will examine a tsunami of abstracts filed ahead of the ASCO meeting in early June in the hopes of finding a few gems.
Shares of ArQule ($ARQL) spiked more than 20 percent this morning after the biotech announced that its lead drug tivantinib achieved significant results in time-to-progression for patients suffering
Japanese drugmaker Daiichi Sankyo has taken the next step to license a kinase inhibitor dubbed ARQ 092 from U.S. drug developer ArQule ($ARQL), paying $10 million initially in the deal that could be