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Biotech / Medical : ArQule, Inc. (ARQL)

ARQL 20.00

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Jan 16 4:00 PM EST

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From: Arthur Radley	1/5/2011 11:00:27 AM
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Needham & Company Reiterates a 'Buy' on ArQule (ARQL); Pivotal Phase 3 Trial of c-Met Inhibitor ARQ 197 in NSCLC to Start Soon 8:01 am ET 01/05/2011- StreetInsider Needham & Company reiterates a 'Buy' on Arqule (NASDAQ: ARQL), PT $12. Needham analyst says, "We believe that ARQL represents a stock of added interest in 2011, as we look forward to the initiation of the pivotal Phase 3 trial of ARQ 197 (with partner Daiichi Sankyo) in combination with Tarceva in 2nd/3rd line NSCLC. We are positively inclined towards the pivotal trial, which is an expanded version of the positive Phase 2 trial enhanced by limiting enrollment to the nonsquamous subtypes and by stratifying for any imbalance of EGFR and KRAS mutation status. We believe there is an unmet medical need in the 2nd/3rd line NSCLC, as Alimta and Tarceva have moved up to the front-line and maintenance settings, and a large market potential exists in non-squamous NSCLC (~70% of all NSCLC)."

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