19 jul: UPDATE: Danaher 2nd Quarter Net Down 7.5%; Profit View Cut
19 jul: Avio Profit Up Partly On Strength of Civilian Business
19-07-2012 15:18:00

Array BioPharma Reaches $8.5 Million Milestone in Amgen Diabetes Agreement

Relateret indhold

By Saabira Chaudhuri

Array BioPharma Inc. (ARRY) has reached a $8.5 million milestone in its agreement with Amgen Inc. (AMGN) to develop a drug to treat diabetes.

Array--a biopharmaceutical company focused on developing small-molecule drugs to treat patients afflicted with cancer and inflammatory diseases--entered the agreement, which is for worldwide development of small-molecule glucokinase activators, including a drug called AMG 151, with Amgen in December 2009.

Under the terms, Amgen paid an up front fee of $60 million. Array is entitled to receive up to about $658 million in additional aggregate milestone payments if all clinical and commercialization milestones specified in the agreement for AMG 151 and at least one backup compound are achieved. Array will also receive royalties on sales of any approved drugs developed under the agreement.

Glucokinase is the enzyme that acts as a glucose sensor in the pancreas and liver. The activation of glucokinase lowers glucose levels by enhancing the ability of the pancreas to sense glucose, which leads to increased insulin production. It also increases the update of blood glucose by the liver.

On Thursday, Array said AMG 151 has previously been found effective in controlling blood glucose. It said the milestone was achieved after Amgen reached a pre-defined patient enrollment level in a Phase 2 clinical trial.

In April, Array said its loss for the fiscal third quarter had narrowed on higher revenue coupled with lower operating expenses.

Shares were up 2.76% in recent premarket trading to $4.10. The stock is up 61% in the past 12 months.

Write to Saabira Chaudhuri at saabira.chaudhuri@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

July 19, 2012 09:18 ET (13:18 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

WHO: Omkring 200.000 ebola-vacciner er klar til sommer

24-10-2014 16:27:18
Hundredtusindvis af ebola-vacciner vil være tilgængelige i Afrika i midten af 2015.Det siger verdenssundhedsorganisationen WHO's vicegeneraldirektør, Marie-Paul..

Vestas modtager kinesisk ordre på 50 megawatt

24-10-2014 12:28:37
Vestas har modtaget en fast og ubetinget ordre i Kina på 50 megawatt. Ordregiver er Hanas, som tre gange tidligere i 2014 har købt møller hos den danske produce..

Vestas-kunde i stor aftale om strømsalg

24-10-2014 11:22:56
Den amerikanske udvikler af vindmølleprojekter Geronimo, som er kunde hos Vestas, har indgået aftale om salg af 140 megawatt af den kapacitet på 210 megawatt, s..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Novo Nordisk skal undersøges for produktionsproblemer
2
Vestas modtager kinesisk ordre på 50 megawatt
3
OW/Jyske: Sænker kursmål for volatil forretning
4
WHO: Omkring 200.000 ebola-vacciner er klar til sommer
5
ECB: 25 europæiske banker dumper stresstest - bureau - NY2

Relaterede aktiekurser

Amgen Inc 147,26 0,0% Stigning i aktiekurs
Array BioPharma Inc 3,60 2,9% Stigning i aktiekurs

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen
Køb

Relaterede selskaber
Få adgang til information og anbefalinger af relaterede selskaber med PLUS pakken.

Du får adgang til 7 værdifulde investorværktøjer til investering.

Klik her og læs mere om PLUS pakken.
Euroinvestor i andre lande: Euroinvestor.com | Euroinvestor.se | Euroinvestor.no | Euroinvestor.fr | Forexinvestor.com| Wisselkoersen.nl | Valuta.se | Valutaveksel.no | Divisas.es | Valute.it
Copyright Euroinvestor A/S 2014  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
25. oktober 2014 12:13:28
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20141024.3 - EUROWEB6 - 2014-10-25 12:13:28 - 2014-10-25 12:13:28 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x