Array BioPharma Inc. (NASDAQ:ARRY) attracting analysts when it go through a change of 16.04% in the current trading session to trade at $16.35. The company has a market cap of $2.86B.
Array BioPharma Inc. (ARRY) recently stated results for its second quarter of fiscal 2018 and offered an update on the progress of its key clinical development programs.
Encorafenib and binimetinib are investigational medicines and are not presently approved in any country.
IMMUNO-ONCOLOGY COLLABORATIONS: TRIAL ADVANCING WITH BRISTOL-MYERS SQUIBB, TRIAL INITIATED WITH MERCK AND NEW PARTNERSHIPDECLARED WITH PFIZER
Array is developing binimetinib in combination with PD-1 / PD-L1 checkpoint inhibitors. We have declared separate, planned collaborations with Bristol-Myers Squibb, Merck and Pfizer, but in each case, are pursuing a unique trial design to explore different clinical approaches.
- The clinical trial with Bristol-Myers Squibb continues to advance and is designed to investigate the safety, tolerability and efficacy of binimetinib in combination with nivolumab (anti-PD-1 therapy), with and without ipilimumab (CTLA-4 antibody), in patients with advanced metastatic microsatellite stable (MSS) CRC and the presence of a RAS mutation who have received one or two preceding regimens.
- The trial is jointly supported by Array and Bristol-Myers Squibb and sponsored by Array.
- The clinical trial with Merck is designed to investigate the safety, tolerability and efficacy of binimetinib in combination with pembrolizumab (anti-PD-1 therapy), with and without FOLFOX or FOLFIRI (chemotherapy) in patients with CRC whose tumors are not microsatellite instability-high (MSI-H).
- After establishing combinability in separate Phase 1 cohorts, the trial will enroll expansion cohorts of 1st and 2nd-line CRC patients onto these novel triplet combinations to determine effectiveness.
- The trial will be sponsored and funded by Merck, with Array providing binimetinib supply.
- The clinical trial with Pfizer is designed to investigate the safety, tolerability and efficacy of several novel anti-cancer combinations, counting binimetinib, avelumab (anti-PD-L1 therapy) and talazoparib (PARP inhibitor) across various tumor types.
- The multi-arm Phase 1b clinical trial is designed to establish recommended doses of different regimens combining the drugs.
- Initially, the focus will be in non-small cell lung cancer (NSCLC) and pancreatic cancer, with additional indications being explored at a later stage.
- The study is predictable to start by the third quarter of 2018, and results will be used to determine optimal approaches to further clinical development of these combinations.
- The trial will be sponsored and funded by Pfizer, with Array providing binimetinib supply.
Novartis Financial Commitment
Novartis continues to substantially fund all ongoing trials with encorafenib and binimetinib that were active or planned as of the close of the Novartis Agreements in 2015, counting the COLUMBUS Phase 3 trial. Reimbursement revenue from Novartis was about $88.5 million for the 12 months ended December 31, 2017, of which $22.4 million was recorded in the quarter ended December 31, 2017. Total revenue and upfront payment collected from Novartis since the start of the 2015 agreement is $348.7 million.
Second Quarter of Fiscal 2018 Contrast to First Quarter of Fiscal 2018 (Sequential Quarters Comparison)
- Revenue for the second quarter of fiscal 2018 was $42.2 million, contrast to $29.7 million for the preceding quarter. The enhance was primarily due to recognition of the remaining $7.9 million deferral of the Asahi Kasei Pharma upfront payment resulting from completion of all remaining material obligations under the Partnershipand License Agreement, in addition to higher Novartis reimbursement revenue.
- Cost of partnered programs for the second quarter of fiscal 2018 was $13.7 million, contrast to $11.8 million for the preceding quarter. The enhance was primarily due to higher costs incurred for the BEACON CRC trial as it continues to advance, in addition to additional resources engaged on collaborations.
- Research and development expense was $42.6 million, contrast to $41.4 million in the preceding quarter. The enhance was driven by costs related to the raised activity on Novartis transitioned studies, and is partially offset by the non-recurring expense related to commercial and clinical supply from the previous quarter.
- Loss from Operations for the quarter was $25.7 million, contrast to a loss from operations of $35.5 million in the previous quarter. The decrease in net loss was primarily due to raised revenue, which was partially offset by raised research and development.
- Net loss for the second quarter was $34.1 million, or ($0.17) per share, contrast to $38.0 million, or ($0.22) per share, in the preceding quarter.
- Cash, Cash Equivalents and Marketable Securities as of December 31, 2017 were $420 million.
Looking at the stock’s movement on the chart, Array BioPharma Inc. have shares float of 7.97%.
Technical traders may be staring at recent indicator levels on shares of Array BioPharma Inc. (ARRY). Trading was heavy with 6,487,104 shares changing hands by the end of trading on Tuesday. Given that its average daily volume over the 30 days has been 3.57M shares a day, this signifies a pretty significant change over the norm.
ARRY Growth Evolution:
Array BioPharma Inc. (NASDAQ:ARRY) has shown an EPS growth of -16.50% in the last 5 years and sales growth of 12.10% for the same year while for the next 5 years; the EPS growth estimates 10.00%.Along with this Sales growth yoy (quarter over quarter) was considered as -24.40%.
A statistical measure of the dispersion of returns (volatility) for ARRY producing salvation in Investors mouth, it has week volatility of 5.33% and for the month booked as 6.20%. Regardless of which metric you utilize, a firm understanding of the concept of volatility and how it is measured is essential to successful investing. A stock that maintains a relatively stable price has low volatility. When investing in a volatile security, the risk of success is increased just as much as the risk of failure.
Keeping an eyeball on Gross profit Margin, Net profit Margin & Operating Margin, the Gross profit margin of 72.90%; the net profit margin of -89.30% while its Operating margin was -80.40% for Array BioPharma Inc. (ARRY). Operating margin and profit margin both measure the efficiency of a firm by comparing profits against costs at three different spots on an income statement. On their own, these margins do not tell much of a story, but they are very useful when compared to past periods or to competitor firms in the same industry.
Comparing Operating and Profit Margin
If there is a huge discrepancy between a company’s profit margin (particularly its gross margin) and its operating margin, it suggests that the company is more efficient in creating and selling its products, but perhaps less efficient in managing training, administration, research or other day-to-day business costs.
The return on assets (ROA) (aka return on total assets, return on average assets), is one of the most widely used profitability ratios because it is related to both profit margin and asset turnover, and shows the rate of return for both creditors and investors of the company. Return on assets is -38.50% and Return on equity (ROE) is -158.70% while it’s Return on Investment (ROI) of -71.10%.
Beta is also an important valuation ratio for analyzing the stock of the company, ARRY’s beta remains at 2.04. The Free Cash Flow or FCF margin is 0. For the most recent quarter, quick ratio was 5.40, current ratio was 5.40, LT Debt/Equity ratio was 0.54 and Total Debt/Equity ratio stands at 0.60, while Payout ratio is 0.