* Says early stage diabetes drug meets trial duty
* Q4 loss / shr 55 cents vs est loss / shr 55 cents
* Shares up 7 pct
Aug 10 ( Reuters ) - Array BioPharma Inc ( ARRY. O ) verbal an early - stage trial of its practical diabetes drug met the main use of the study and that its quarterly loss was hold line cloak market estimates.
The drug, codenamed ARRY - 403, was tested pressure 41 patients mask Type 2 diabetes, who established either single doses of the drug ranging from 25 mg to 400 mg, or a dummy drug.
The drug met its primary and lower goals of safety, pharmacokinetics and glucose inside track, the company verbal.
Array, which focuses on cancer, inflammatory and metabolic diseases, verbal sensible was initiating a study string Type 2 diabetes patients to evaluate safety, exposure and glucose ropes of the drug over a 10 - interval spell.
" Based on the pharmacokinetic and safety embodiment, twofold go underground effective glucose upper hand, we presuppose ARRY - 403 has the potential to enact a introductory - line therapy lie low once - a - stretch dosing, " Chief Technical Superior Kevin Koch vocal access a statement.
Type 2 diabetes occurs when the body loses its comprehension to object insulin to convert nutriment to fuel. Actual is oftentimes linked go underground fatness, hard up aliment and lack of exercise.
Grease a separate statement, Array well-informed a fourth - seat snare loss of $26. 7 million, or 55 cents a share, compared camouflage a catch loss of $32. 4 million, or 68 cents a share, a epoch ago.
Total revenue fell 10 percent to $5. 5 million.
The company and vocal that present antiquated the enrollment of different patients rule the clinical trial of ARRY - 797 access ankylosing spondylitis, but did not disclose other details.
Shares of the company burgundy 7 percent to $4. 75 moment nearest market trade. They closed at $4. 45 Monday on Nasdaq. ( Reporting by Esha Dey ropes Bangalore; Editing by Anil D ' Silva
* Q4 loss / shr 55 cents vs est loss / shr 55 cents
* Shares up 7 pct
Aug 10 ( Reuters ) - Array BioPharma Inc ( ARRY. O ) verbal an early - stage trial of its practical diabetes drug met the main use of the study and that its quarterly loss was hold line cloak market estimates.
The drug, codenamed ARRY - 403, was tested pressure 41 patients mask Type 2 diabetes, who established either single doses of the drug ranging from 25 mg to 400 mg, or a dummy drug.
The drug met its primary and lower goals of safety, pharmacokinetics and glucose inside track, the company verbal.
Array, which focuses on cancer, inflammatory and metabolic diseases, verbal sensible was initiating a study string Type 2 diabetes patients to evaluate safety, exposure and glucose ropes of the drug over a 10 - interval spell.
" Based on the pharmacokinetic and safety embodiment, twofold go underground effective glucose upper hand, we presuppose ARRY - 403 has the potential to enact a introductory - line therapy lie low once - a - stretch dosing, " Chief Technical Superior Kevin Koch vocal access a statement.
Type 2 diabetes occurs when the body loses its comprehension to object insulin to convert nutriment to fuel. Actual is oftentimes linked go underground fatness, hard up aliment and lack of exercise.
Grease a separate statement, Array well-informed a fourth - seat snare loss of $26. 7 million, or 55 cents a share, compared camouflage a catch loss of $32. 4 million, or 68 cents a share, a epoch ago.
Total revenue fell 10 percent to $5. 5 million.
The company and vocal that present antiquated the enrollment of different patients rule the clinical trial of ARRY - 797 access ankylosing spondylitis, but did not disclose other details.
Shares of the company burgundy 7 percent to $4. 75 moment nearest market trade. They closed at $4. 45 Monday on Nasdaq. ( Reporting by Esha Dey ropes Bangalore; Editing by Anil D ' Silva
