Busy Rest of June for ARRY


It will be an exciting rest of June for Array Biopharma (ARRY) with 2 PDUFAs (final FDA drug approvals) for its 2 lead drug candidates (BINI and ENCO) in BRAF-mutant melanoma and a presentation and investor event this weekend at a major European cancer meeting on these 2 candidates along with Cetuximab in BRAF-mutant colorectal cancer. PDUFA success is probably baked in current price and always comes with a manufacturing FDA rejection (CRL) risk, but colorectal opportunity probably not yet realized in ARRY current price, although market has only reacted with temporary 10-15% spikes for prior colorectal report-outs. Will this be the data that finally convinces the market re: colorectal opportunity? Most likely value of colorectal opportunity happens late this year or early next year if data continues to look good, with FDA possibly agreeing to easier path to approval.

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