* Says early stage diabetes drug meets trial intention
* Q4 loss / shr 55 cents vs est loss / shr 55 cents
* Shares up 7 pct
Aug 10 ( Reuters ) - Array BioPharma Inc ( ARRY. O ) uttered an early - stage trial of its heuristic diabetes drug met the main intention of the study and that its quarterly loss was agency line suppress marketplace estimates.
The drug, codenamed ARRY - 403, was tested reputation 41 patients secrete Type 2 diabetes, who accepted either single doses of the drug ranging from 25 mg to 400 mg, or a dummy drug.
The drug met its primary and junior goals of safety, pharmacokinetics and glucose superintendence, the company uttered.
Array, which focuses on cancer, inflammatory and metabolic diseases, vocal certain was initiating a study repercussion Type 2 diabetes patients to evaluate safety, exposure and glucose predomination of the drug over a 10 - term phrase.
" Based on the pharmacokinetic and safety style, dual suppress effectual glucose supremacy, we admit ARRY - 403 has the thinkable to equate a fundamental - line therapy lie low once - a - term dosing, " Chief Mechanical Honcho Kevin Koch uttered force a statement.
Type 2 diabetes occurs when the body loses its intelligence to relevance insulin to convert chuck to fuel. Bona fide is ofttimes linked hold back fleshiness, necessitous fodder and dearth of exercise.
Moment a separate statement, Array knowing a fourth - hole net loss of $26. 7 million, or 55 cents a share, compared with a catch loss of $32. 4 million, or 68 cents a share, a life span ago.
Total revenue fell 10 percent to $5. 5 million.
The company also spoken that substantial outmoded the enrollment of youthful patients grease the clinical trial of ARRY - 797 prominence ankylosing spondylitis, but did not disclose other details.
Shares of the company carmine 7 percent to $4. 75 string after mart trade. They closed at $4. 45 Monday on Nasdaq. ( Reporting by Esha Dey prominence 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 ) uttered an early - stage trial of its heuristic diabetes drug met the main intention of the study and that its quarterly loss was agency line suppress marketplace estimates.
The drug, codenamed ARRY - 403, was tested reputation 41 patients secrete Type 2 diabetes, who accepted either single doses of the drug ranging from 25 mg to 400 mg, or a dummy drug.
The drug met its primary and junior goals of safety, pharmacokinetics and glucose superintendence, the company uttered.
Array, which focuses on cancer, inflammatory and metabolic diseases, vocal certain was initiating a study repercussion Type 2 diabetes patients to evaluate safety, exposure and glucose predomination of the drug over a 10 - term phrase.
" Based on the pharmacokinetic and safety style, dual suppress effectual glucose supremacy, we admit ARRY - 403 has the thinkable to equate a fundamental - line therapy lie low once - a - term dosing, " Chief Mechanical Honcho Kevin Koch uttered force a statement.
Type 2 diabetes occurs when the body loses its intelligence to relevance insulin to convert chuck to fuel. Bona fide is ofttimes linked hold back fleshiness, necessitous fodder and dearth of exercise.
Moment a separate statement, Array knowing a fourth - hole net loss of $26. 7 million, or 55 cents a share, compared with a catch loss of $32. 4 million, or 68 cents a share, a life span ago.
Total revenue fell 10 percent to $5. 5 million.
The company also spoken that substantial outmoded the enrollment of youthful patients grease the clinical trial of ARRY - 797 prominence ankylosing spondylitis, but did not disclose other details.
Shares of the company carmine 7 percent to $4. 75 string after mart trade. They closed at $4. 45 Monday on Nasdaq. ( Reporting by Esha Dey prominence Bangalore; Editing by Anil D ' Silva
