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 The company's stock jumped about 24 percent before the opening bell
on Wednesday.
Data showed that patients with advanced NRAS-mutant melanoma treated
with the drug, binimetinib, lived for a median of 2.8 months before
their disease worsened, compared with 1.5 months for patients
treated with the chemotherapy dacarbazine.
Nearly 74,000 new cases of melanoma and nearly 10,000 deaths from
the disease are projected for 2015, according to Array. NRAS
mutations occur in about 15 to 20 percent of metastatic melanoma
patients. On average, those with the stubborn mutation live an
average of 8.5 months once diagnosed.
Array's "NEMO" trial, which consists of 402 patients, is one of many
studies the drug is being evaluated in. Binimetinib is also being
tested in separate late-stage studies in patients with BRAF-mutant
melanoma and ovarian cancer.
The company said on Wednesday said it plans to submit an application
to market binimetinib to treat NRAS-mutant melanoma during the first
half of 2016.
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The stock closed at $3.83 on the Nasdaq on Tuesday.
(Reporting by Natalie Grover in Bengaluru; Editing by Shounak
Dasgupta)
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