ArQule, Inc. (NASDAQ:ARQL) recently announced the presentation of clinical and preclinical data on ARQ 751 in three poster presentations at the 30th EORTC/AACR/NCI Symposium held from November 13 to 16, 2018 in Dublin, Ireland.
According to the release, the data presented highlight clinical data from ARQ 751-101, a Phase 1 study in adult patients with refractory and/or metastatic tumors that harbor AKT, PI3K or PTEN genetic alterations, and preclinical data on ARQ 751 in combination with other agents.
ArQule, Inc. (NASDAQ:ARQL) bills itself as a biopharmaceutical company that researches and develops therapeutics for the treatment of cancer and rare diseases in the United States.
It offers Derazantinib (ARQ 087), a multi-kinase inhibitor of the fibroblast growth factor receptor (FGFR) family that is in a registration trial in intrahepatic cholangiocarcinoma with FGFR2 fusions.
The company’s clinical-stage products include Miransertib (ARQ 092), an inhibitor of the AKT serine/threonine kinase in Phase 1/2 clinical trial in rare Overgrowth Diseases, Phase 1 clinical trial in the rare disease, and in Phase 1b in oncology in combination with the hormonal therapy and anastrozole; ARQ 751, a next-generation inhibitor of AKT that is in Phase I clinical trial for solid tumors harboring the AKT1 or PI3K mutation; ARQ 761, a ß-lapachone analog evaluated as a promoter of NQO1-mediated programmed cancer cell death which is in Phase 1/2 clinical trial in multiple oncology; and ARQ 531, an orally bioavailable, potent and reversible inhibitor of wild type and C481S-mutant Bruton’s tyrosine kinase that is in Phase 1 for B-cell malignancies refractory to other therapeutic options.
It has collaboration agreement with Roivant Sciences Ltd. to develop derazantinib, a pan-FGFR inhibitor. ArQule, Inc. was founded in 1993 and is headquartered in Burlington, Massachusetts.
As we discussed earlier, ARQL recently announced the presentation of clinical and preclinical data on ARQ 751 in three poster presentations at the 30th EORTC/AACR/NCI Symposium held from November 13 to 16, 2018 in Dublin, Ireland.
Even with that news, the action hasn’t really heated up in the stock, with shares moving net sideways over the past week. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -7%.
“ARQ 751, as a highly specific allosteric AKT inhibitor, holds great potential in treating patients with solid tumors harboring mutations in the AKT/PI3K/PTEN pathways,” said Brian Schwartz, M.D., Chief Medical Officer of ArQule. “The presented data are very encouraging and demonstrate both preliminary signs of clinical activity and a favorable safety profile while also determining the recommended Phase 2 dose. At ArQule, we are committed to developing genetically targeted cancer treatments to provide effective new treatment options for patients, particularly those with advanced or relapsed disease, and look forward to advancing the ARQ 751 clinical program.”
ArQule, Inc. (NASDAQ:ARQL) managed to rope in revenues totaling $5M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a flat rate of top-line growth as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($100.2M against $11.2M).