Seeking Alpha

ArQule rallies on renewed hopes for tivantinib

  • Today's rally in shares of ArQule (ARQL +9.7%) is likely attributable to RBC's Adnan Butt, who Reuters quotes as saying that an upcoming presentation at ESMO could mean another shot for tivantinib in lung cancer.
  • The drug was effectively left for dead (at least as far as NSCLC goes) last October when ARQL and partner Daiichi Sankyo (DSKYF.PK) dropped a Phase 3 trial due to lack of efficacy.
  • New data from that trial "could validate the mechanism of action for the drug and potentially allow a path forward in lung cancer as well," Butt says.
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