Company Website:
http://www.zlk.com
NEW YORK -- (Business Wire)
Levi & Korsinsky announces it has commenced an investigation of Array
BioPharma Inc. (“Array BioPharma” or the “Company”) (NASDAQ: ARRY)
concerning possible violations of federal securities laws.
On March 19, 2017, Array BioPharma announced it had withdrawn its New
Drug Application for binimetinib monotherapy for the treatment of NRAS-mutant
melanoma. Array BioPharma said the company “concluded that the clinical
benefit demonstrated in the Phase 3 NEMO clinical trial would not be
found sufficient to support approval of the NRAS-mutant melanoma
NDA.”
Then on March 21, 2017, an article featured on Endpoints News suggested
that this move comes as a surprise, as the Company had issued positive
statements about the drug treatment, noting “execs are walking back the
application” just fifteen months after suggesting it had the data needed
for its first approval of binimetinib for NRAS-positive melanoma.”
Endpoints News also noted that “in late 2015…CEO Ron Squarer said that
their MEK blocker hit the primary endpoint on progression-free survival,
with the drug registering 2.8 months compared to 1.5 months for a group
on dacarbazine. It didn’t look like much, but Array said it was plenty
to take to the FDA.” Shares of Array BioPharma have fallen from a close
of $10.56 on March 17, 2017 to a close of $8.35 per share on July 14,
2017. To obtain additional information, go to:
http://www.zlkdocs.com/ARRY-Info-Request-Form-5941
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com
or by telephone at (212) 363-7500, toll-free: (877) 363-5972.
Levi & Korsinsky is a national firm with offices in New York,
California, Connecticut and Washington D.C. The firm’s attorneys have
extensive expertise in prosecuting securities litigation involving
financial fraud, representing investors throughout the nation in
securities and shareholder lawsuits. Attorney advertising. Prior results
do not guarantee similar outcomes.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171120005739/en/
Contacts:
Levi & Korsinsky, LLP
Eduard Korsinsky, Esq.
Tel:
212-363-7500
Toll Free: 877-363-5972
Fax: 212-363-7171
www.zlk.com
Source: Levi & Korsinsky
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