Array BioPharma reports financial results, melanoma drugs update

Array BioPharma has announced results for its first quarter of fiscal 2017 and updates on research on melanoma drugs.

“We are pleased to report that COLUMBUS met its primary endpoint and demonstrated a robust [progression free survival (PFS)] benefit associated with the combination of binimetinib plus encorafenib versus vemurafenib in patients with BRAF-mutant melanoma,” Ron Squarer, CEO of Array BioPharma, stated in a press release.

Array reported that Novartis continued to substantially fund all ongoing trials with binimetinib and encorafenib that were active or planned by the close of the Novartis agreements of 2015, with reimbursement revenue from Novartis including $31.3 million recorded during the past quarter, according to the release.

Array reviewed top-line results from part 1 of a COLUMBUS study evaluating encorafenib, a BRAF inhibitor, and binimetinib, a MEK inhibitor, in patients with BRAF-mutant advanced, unresectable or metastatic melanoma. The combination of encorafenib and binimetinib met primary endpoint of significantly improving PFS compared with vemurafenib, a BRAF inhibitor, alone. The median PFS for patients treated with the combination was 14.9 months compared with 7.3 months for patients treated with vemurafenib (hazard ratio = 0.54; 95% CI, 0.41-0.71), according to the release.

Further results of part 1 of the study will be presented at the Society for Melanoma Research Congress on Nov. 9, according to the release.

Array also announced that in September, the FDA accepted its NDA for binimetinib in NRAS-mutant melanoma, including a target action date under the Prescription Drug User Fee Act of June 30, 2017.

Array announced that revenue for the first quarter of fiscal 2017 was $39.3 million, compared with $43.2 million for the prior quarter, mainly driven by reduced Novartis reimbursed activity, and that revenue for the first fiscal quarter increased $23.1 million compared to the same quarter of fiscal 2016. This was primarily due to reimbursement revenue from Novartis, according to the release.

Reference: www.arraybiopharma.com