Lakeway, NY — (MARKET NEWS CALL) — 12/17/2014— thenextbigtrade.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market about the small and penny stocks, issues news alert on Array Biopharma Inc (NASDAQ:ARRY), Merrimack Pharmaceuticals Inc(NASDAQ:MACK), Keryx Biopharmaceuticals (NASDAQ:KERX).
Array Biopharma Inc (NASDAQ:ARRY)’s shares decreased 0.86% to $4.59. The company on Dec. 3 announced that it has reached a definitive agreement with Novartis International Pharmaceutical Ltd. to regain full worldwide rights to binimetinib, a MEK inhibitor in three Phase 3 trials. This agreement is conditional on the closing of transactions announced by Novartis and GlaxoSmithKline PLC (GSK) on April 22, 2014, which are expected in the first half of 2015, and remain subject to regulatory approval. Array had previously granted Novartis worldwide exclusive rights to develop and commercialize binimetinib under a 2010 License Agreement, which will terminate and be superseded by a new set of agreements between the parties.
Merrimack Pharmaceuticals Inc(NASDAQ:MACK)’s shares gained 2.02% to $10.08. The company on Dec. 12 announced data from multiple presentations at the 2014 San Antonio Breast Cancer Symposium in San Antonio, TX. Presentations include preclinical research and clinical data on MM-398, MM-302 and MM-121.
Presentations on Merrimack’s nanoliposomal platform include an abstract detailing clinical data from a cohort of ER/PR-positive metastatic breast patients treated with MM-398, a nanoliposomal encapsulation of irinotecan, in a cross-indication translational study investigating potential predictive response markers for MM-398 therapy.
Keryx Biopharmaceuticals (NASDAQ:KERX)’s shares fell 1.17% to $13.57. The company on Dec. 4 announced that the U.S. Patent and Trademark Office issued U.S. Patent No. 8,901,349 on December 2, 2014. The patent, which expires in 2024, claims a method of treating hyperphosphatemia comprising administering a therapeutically effective amount of an orally administrable form of ferric citrate to a subject, wherein the orally administrable form is prepared from a ferric citrate having a BET active surface area greater than about 16 sq. m/g. The patent also claims a broad category of orally administrable forms covering Auryxia, as well as other oral formulations that could be developed in the future.
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