Monday, September 29, 2014

Daily Dose - News on Tonix (TNXP), Exelixis (EXEL), and Array (ARRY)

Tonix (TNXP) reported results for it's trial of its lead compound to treat Fibromyalgia.  The drug failed its two primary endpoints though it did show a 30% improvement vs. placebo on pain improvement but this would be expected as the compound is a variation of flexeril, a drug used to treat pain.  I'm getting out of my position as I believe this stock is dead in the water.
Check this out!
Exelixis (EXEL) reported results for it's trial in partnership with Roche of Cobimetinib in patients with BRAF mutation-positive advanced melanoma.  The trial met its primary endpoint of Progression Free Survival which was 9.9 months vs. 6.2 months in the control arm.  Roche has already filed to market the drug in Europe and expects to file an NDA with the FDA by the end of the year.  Exelixis has an option to co-promote the drug in the United States.  I'm holding onto my shares of Exelixis as I believe there's a chance the company could be acquired by Roche.
Check this out!
Array (ARRY) reported phase 2 results for it's trial of Binimetinib in NRAS Melanoma.  PFS was 3.6 months in a group of patients with a very poor prognosis.  The drug is currently in a phase 3 trial with results expected next year.  I'm holding onto my shares of Array as I hope for positive results in the phase 3 study and a subsequent NDA filing next year.

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