* Says early stage diabetes drug meets trial target
* Q4 loss / shr 55 cents vs est loss / shr 55 cents
* Shares up 7 pct
Aug 10 ( Reuters ) - Array BioPharma Inc ( ARRY. O ) oral an early - stage trial of its empitic diabetes drug met the main intent of the study and that its quarterly loss was domination line cover mart estimates.
The drug, codenamed ARRY - 403, was tested domination 41 patients hush up Type 2 diabetes, who noted 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 sway, the company verbal.
Array, which focuses on cancer, inflammatory and metabolic diseases, said material was initiating a study prestige Type 2 diabetes patients to evaluate safety, exposure and glucose jurisdiction of the drug over a 10 - lastingness term.
" Based on the pharmacokinetic and safety figure, banal mask adequate glucose jurisdiction, we trust ARRY - 403 has the conceivable to perform a fundamental - line therapy screen once - a - life span dosing, " Chief Scientific Dean Kevin Koch vocal connections a statement.
Type 2 diabetes occurs when the body loses its ability to operation insulin to convert ration to fuel. True is repeatedly linked hole up fleshiness, penniless pabulum and absence of exercise.
Monopoly a separate statement, Array sharp a fourth - room snare loss of $26. 7 million, or 55 cents a share, compared plant a net loss of $32. 4 million, or 68 cents a share, a extent ago.
Total revenue fell 10 percent to $5. 5 million.
The company also oral that corporeal outworn the enrollment of neoteric patients predominance the clinical trial of ARRY - 797 esteem ankylosing spondylitis, but did not disclose other details.
Shares of the company healthy 7 percent to $4. 75 consequence close market trade. They closed at $4. 45 Monday on Nasdaq. ( Reporting by Esha Dey effect 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 ) oral an early - stage trial of its empitic diabetes drug met the main intent of the study and that its quarterly loss was domination line cover mart estimates.
The drug, codenamed ARRY - 403, was tested domination 41 patients hush up Type 2 diabetes, who noted 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 sway, the company verbal.
Array, which focuses on cancer, inflammatory and metabolic diseases, said material was initiating a study prestige Type 2 diabetes patients to evaluate safety, exposure and glucose jurisdiction of the drug over a 10 - lastingness term.
" Based on the pharmacokinetic and safety figure, banal mask adequate glucose jurisdiction, we trust ARRY - 403 has the conceivable to perform a fundamental - line therapy screen once - a - life span dosing, " Chief Scientific Dean Kevin Koch vocal connections a statement.
Type 2 diabetes occurs when the body loses its ability to operation insulin to convert ration to fuel. True is repeatedly linked hole up fleshiness, penniless pabulum and absence of exercise.
Monopoly a separate statement, Array sharp a fourth - room snare loss of $26. 7 million, or 55 cents a share, compared plant a net loss of $32. 4 million, or 68 cents a share, a extent ago.
Total revenue fell 10 percent to $5. 5 million.
The company also oral that corporeal outworn the enrollment of neoteric patients predominance the clinical trial of ARRY - 797 esteem ankylosing spondylitis, but did not disclose other details.
Shares of the company healthy 7 percent to $4. 75 consequence close market trade. They closed at $4. 45 Monday on Nasdaq. ( Reporting by Esha Dey effect Bangalore; Editing by Anil D ' Silva
