Technology  April 1, 2016

Array discontinues trial on ovarian-cancer drug

BOULDER — Array BioPharma Inc. has pulled the plug on one of three trials it is conducting for its cancer drug binimetinib, the Boulder-based company announced Friday.

Array (Nasdaq: ARRY) is stopping its MILO study, a phase 3 trial of binimetinib for the treatment of patients with -ovarian cancer, after a planned interim analysis showed that the treatment was not meeting predefined goals.

Array, in a prepared statement, said it will work with investigators to conclude the MILO study in a manner consistent with the best interest of each patient, while more-detailed results will be shared with the scientific community in the future.

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Dr. Victor Sandor, Array’s chief medical officer, said other ongoing studies of binimetinib to treat two different forms of skin cancer are unaffected.

Array BioPharma has five studies related to three cancer drugs, including binimetinib, encorafenib to treat colorectal cancer, and selemetinib to treat lung and thyroid cancers.

Array’s stock fell about 4 percent to $2.82 per share in early trading on Friday.

 

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