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Why ArQule Inc is Down 12 Percent Tuesday (ARQL)

Zemanta Related Posts ThumbnailShares of ArQule (NASDAQ: ARQL) are down about 12 percent in early trading Tuesday after the company, along with its partner, Daiichi Sankyo, announced that in a Phase III trial of its cancer drug, tivantinib, the dosage will be reduced from 240 mg twice daily to 120 mg to address the observation of a higher incidence of neutropenia that wasn’t observed in the Phase II trial.

While not a major setback, the companies believe that the lower dosage will reduce the observed side effects but until data proves this to be true, investors will be concerned that the trials may not meet their primary endpoints.

 

Company Profile:

ArQule, Inc., a clinical-stage biotechnology company, engages in the research and development of cancer therapeutics directed toward molecular targets and biological processes. Its lead product candidate tivantinib is an inhibitor of the c-Met receptor tyrosine kinase and its biological pathway, which is in Phase 3 clinical trial for the treatment of non-small cell lung and liver cancer; and Phase 2 clinical trial for the treatment of colorectal cancer.

The company is also involved in the development of ARQ 087, an inhibitor of fibroblast growth factor receptor; ARQ 621, an inhibitor of the Eg5 kinesin motor protein; and ARQ 736, an inhibitor of the RAF kinases, which are in Phase 1 clinical development, as well as ARQ 761, an activator of the E2F-1 damage response/checkpoint pathway. It has partnership agreement with Daiichi Sankyo Co., Ltd. and Kyowa Hakko Kirin Co., Ltd. for implementing a clinical development program designed to realize the broad potential of tivantinib as a single agent; and in combination with other anti-cancer therapies in various disease indications.

In addition, the company has research collaboration with Daiichi Sankyo Co., Ltd. to discover selective inhibitors of two kinases in the field of oncology based on its ArQule Kinase Inhibitor Platform (AKIP) technology. ArQule, Inc. was founded in 1993 and is headquartered in Woburn, Massachusetts.

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[stock-tools exchange="NASDAQ" symbol="ARQL" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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