Today is likely to be a very interesting day in the market following the Trump win. Nonetheless, Array Biopharma Inc (NASDAQ:ARRY) is skyrocketing, and for good reason. Today, we’ll talk about what we’re seeing from the stock, why, and what we can expect to see from ARRY ahead. So, let’s get right to it…
What We’re Seeing From ARRY
As mentioned above, Array Biopharma Inc (NASDAQ:ARRY) had an incredibly strong day on the market. In pre-market, the stock made its way well into the green and the gains continued throughout the day. ARRY is trading at $6.51 per share after a gain of $0.45 per share or 7.43% on Wednesday.
Why The Gains Are Happening
As usual, when we noticed that ARRY was headed up, the CNA Finance team started to do some digging to see what was causing the move. It didn’t take long to dig the cause up. The gains are the result of new clinical data that’s been made available.
For some time now, Array Biopharma was testing a combination treatment including Binimetinib and encorafenib. Recently, we learned that the clinical study met its primary endpoint. ARRY showed statistically significant results in an advantage on median progression free survival rates of 14.9 months, compared to 7.3 months with the current standard of care.
What We Can Expect To See Ahead
Moving forward, I have an overwhelmingly bullish opinion of what we can expect to see from Array Biopharma Inc (NASDAQ:ARRY). At the end of the day, the company has proven that a treatment it is working on is effective. That means that the treatment will likely lead to great things ahead. All in all, I’m expecting to see gains!
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Note: This article was written by Joshua Rodriguez, owner and founder of CNA Finance. If you would like to connect with Joshua, you can do so by emailing him at CNAFinanceHelp@gmail.com!