Biotech Values

[mcbio]

ARRY/McBio:

I recall you were following ARRY...you still own it? Any short- to mid-term events coming up?

Seems to be have held up in this range.

I have no position, but considering.

I'm still long ARRY. Nothing has changed in terms of my holdings or opinion on the stock. Given some other stocks I've added and market movement of my holdings, ARRY is now about 10% of my biofolio. The biggest event in my mind for ARRY this year is the data due on their two MEK inhibitors, selumetinib partnered with AZN and MEK-162 partnered with NVS. ARRY has said there could be Phase 2 data out on selumetinib as early as this summer. I'm expecting data on MEK-162 to come after that although I think the MEK-162 news is likely to be less consequential as this is just Phase 1b data and the selumetinib data is Phase 2 and may give us an early PoC sign as to whether the drug works and, in general, how viable the MEK approach may be in treating various cancers. ARRY has indicated that selumetinib is the most advanced MEK inhibitor in the clinic so I view the Phase 2 data on this drug as a key event for ARRY this year (one can infer the same from management given their tone in recent calls).