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10.07.2019 14:19:00

Here's Why Array BioPharma Soared 75.4% in June

Shares of Array BioPharma (NASDAQ: ARRY), a commercial-stage biopharmaceutical company developing highly targeted cancer therapies, soared 75.4% higher in the first half of 2019, according to data from S&P Global Market Intelligence. A string of recent successes that finished with a juicy buyout offer from Pfizer (NYSE: PFE) in the middle of the month sent the stock soaring.When Swiss pharma giant Novartis (NYSE: NVS) returned the cancer drug candidates Braftovi and Mektovi that it had previously licensed from Array in 2015, targeted small-molecule cancer drugs weren't nearly as popular as they are now. One reason had to do with a relative lack of tumor genome profiling that has improved a great deal and is still accelerating.Image source: Getty Images.Continue reading
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