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Fly News Breaks for March 20, 2017
ARRY
Mar 20, 2017 | 07:51 EDT
Cowen analyst Chris Shibutani said Array's decision to withdraw its application for binimetinib monotherapy for the treatment of NRAS-mutant melanoma was prudent given the known modest efficacy benefit. He views the decision as a de-risking event and said weakness in the shares is a buying opportunity. Shibutani reiterated his Outperform rating and lowered his price target to $14 from $15 on Array Biopharma shares.
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