Wednesday, February 01, 2006

Lots of Good News From Array

Array BioPharma Inc. (Nasdaq: ARRY) and AstraZeneca PLC selected an additional clinical candidate for their small molecule anti-cancer program, triggering a $1 million milestone payment from AstraZeneca to Array. In December 2003, Array partnered the oncology portion of its MEK program, including its lead compound, ARRY-142886 (AZD6244), for co-development and commercialization with AstraZeneca. At that time, Array and AstraZeneca established a collaboration for research and development of additional clinical candidates.

Array has also initiated dosing cancer patients in a Phase I clinical trial for its targeted small molecule anticancer drug ARRY-334543. ARRY-334543 is an oral, selective, reversible, small molecule tyrosine kinase inhibitor of both ErbB-2 (Her-2/neu) and EGFR. Over-expression of ErbB-2 and EGFR receptors in tumors is predictive of poor prognosis in cancer patients. ARRY-334543 has shown significant anti-tumor activity in preclinical models of human breast, lung, and epidermal carcinoma tumors

Array will be reporting 4Q05 results on 6 February and CEO Robert E. Conway will be presenting at the BIO CEO & Investor Conference in NYC on 15 February. This presentation should be web cast on the Array website.

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