Information Provided By:
Fly News Breaks for April 1, 2016
ARRY
Apr 1, 2016 | 11:19 EDT
Piper Jaffray analyst Edward Tenthoff says Array BioPharma announced discontinuation of the Phase 3 MILO study of binimetinib in low-grade serous ovarian cancer. However, the analyst believes this failure has no read-through to approval of binimetinib in NRAS-mutant melanoma or other trials. Tenthoff reiterates an Overweight rating and $14 price target on the shares, even after removing binimetinib's value in ovarian cancer.