Reuters: Global Markets: Array pain drug fails to better existing treatment, shares fall

Reuters: Global Markets Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Array pain drug fails to better existing treatment, shares fall Jul 31st 2012, 20:52 Tue Jul 31, 2012 4:52pm EDT (Reuters) - Array BioPharma Inc (ARRY.O) said its experimental pain drug did not reduce pain better than the existing standard of care in a mid-stage study, sending its shares down 13 percent in after-market trade. The compound, ARRY-797, reduced pain similar to the standard of care for chronic pain, Oxycodone ER. Patients taking Oxycodone showed a higher rate of adverse events in the trial. The mid-stage study showed that ARRY-797 reduced pain significantly higher than a dummy drug -- the main goal. Data from the trial suggests that ARRY-797 could be effective in treating both acute and chronic pain indications, the company said in a statement. ARRY-797 is currently being tested in multiple ascending dose trials, the drugmaker added. Shares of the Boulder, Colorado-based company, which have risen about 45 percent in the last three months, fell 13 percent to $4.50 in extended trade. They closed at $5.14 on Tuesday on the Nasdaq.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions