Array BioPharma shares have surged in the wake of the company’s oncology deal with Novartis and the good news is expected to continue, said the company’s CEO Ron Squarer. Squarer said he has high expectations following Array’s agreement with Novartis in which the company regained full rights to a previously partnered Phase 3 oncology drug program (binimetinib), and acquired a second Phase 3 oncology program (encorafenib). In addition to an expected regulatory filing for binimetinib in the first half of 2016, Squarer anticipates filing for a uveal melanoma drug (selumetinib) in which it partnered with AstraZeneca.
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