DALLAS, Feb. 3, 2010 (GLOBE NEWSWIRE) -- BeaconEquity.com announces an investment report featuring biopharmaceutical company Array BioPharma Inc. (Nasdaq:ARRY). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The full report is available at: http://www.beaconequity.com/i/ARRY
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Array BioPharma Inc. (ARRY) researches, develops and commercializes small-molecule biopharmaceutical drugs, targeting cancer and inflammatory disease and other unmet disease treatment needs. The Company's proprietary drug candidates are designed to target proteins necessary to treat various diseases.
In the report, the analyst notes:
“Tight and uncertain capital markets have altered the Company's focus from one of widespread advancement of its pipeline drug candidates to one of advancement of its most promising clinical trials, which provides the Company with the largest chance of maximizing drug pipeline value. In addition, the Company has embarked on a cost-cutting plan to conserve capital by reducing its workforce by 10%, or 40 employees. Restructuring charges of approximately $1.5 million were taken for the third quarter of fiscal 2009 as a result of the workforce reduction.
“The Company also states in its latest SEC 10-Q that potential milestone payments derived from collaborators is more than $1.3 billion, as well as the potential for earned royalties from 16 separate drug candidates in development with partners, including novel drug therapies developed with Genentech Inc., Celgene Corp., AstraZeneca and InterMune Inc.”
To read the entire report visit: http://www.beaconequity.com/i/ARRY
See what investors are saying about ARRY at penny stock forum.
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