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Biotech Stock of the Day; Array Biopharma Inc. (ARRY)

By Warren Paige

Array Biopharma Inc. (NASDAQ: ARRY), a biopharmaceutical company engaged in the discovery, development and commercialization of small molecule drugs to treat patients afflicted with cancer and inflammatory diseases, has seen a sharp rise in its shares in trading today.

ARRY shares rose to a new 52-week high of $4.10 in trading today. At last check, the stock was trading 6.58% higher at $3.89 on above average volume of 1.48 million.

Array Biopharma shares are gaining momentum in trading today after the company reported positive trial results for its experimental lung cancer drug, selumetinib. The results showed an increase survival by an additional 4.2 months over chemotherapy alone.

ARRY also reported encouraging results of a new melanoma treatment.

May 17th, 2012 | Tags: | Category: Hot MicroCaps

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.