ArQule News: ARQL Stock Skyrockets on Blood Cancer Study Results

ArQule (NASDAQ:) began the day and ended the week with a bang as the company’s latest blood cancer treatment has shown early signs of promise in helping patients with tumors heal.

The Woburn, Mass.-based pharmaceutical business announced its preliminary data from a Phase 1 trial in regards to its investigational cancer drug ARQ 531. The company’s early-stage trial is still ongoing, and it examined the effects of several different doses of the drug in 34 patients suffering from advanced chronic lymphocytic leukemia (CLL), small lymphocytic leukemia (SLL), Richter’s Transformation, Waldenström macroglobulinemia as well as other B-cell Non-Hodgkin lymphomas.

ArQule’s Phase 1 trials are designed to establish a recommended dose of a new drug for study for the Phase 2 trials. Researchers from the study looking at ARQ 531 said patients were fine at dosages of up to 65 milligrams once a day.

The drug displayed promising anti-tumor activity in some patients, according to the company. “We are now focused on finalizing the recommended Phase 2 dose and planning for the expansion of our clinical efforts with ARQ 531 into later stage trials across multiple indications as a single agent and as a combination therapy,” said ArQule Chief Medical Officer Brian Schwartz in a statement.

ARQL stock is soaring a whopping 32.6% following the company’s news on Friday. This helped push the company’s per share price to a 12-year high of $8.34.

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