This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Clovis Oncology And Array BioPharma Announce Agreement To Discover Novel Mutant KIT Inhibitor

Stocks in this article: ARRY CLVS

Clovis Oncology, Inc. (Nasdaq: CLVS) and Array BioPharma (Nasdaq: ARRY) announced today an agreement for the discovery of a novel KIT inhibitor targeting resistance mutations for the treatment of GIST. GIST is a gastrointestinal cancer diagnosed each year in more than 12,000 patients in the US and EU and 2,500 in Japan. Currently approved therapies for GIST include the tyrosine kinase inhibitors (TKIs) Gleevec® (imatinib), and Sutent® (sunitinib), typically used first- and second-line respectively. Each inhibits some KIT mutations, but acquired resistance due to secondary KIT mutations occurs in the majority of GIST patients, resulting in disease progression. Patients who present with metastatic GIST have a five-year survival rate of approximately 50 percent.

Exon 17 resistance mutations are considered the most difficult to treat, and typically emerge after other TKI therapy in at least 50 percent of patients with progressive disease. None of the currently-approved therapies inhibit exon 17 mutations, nor do the current development-stage drugs targeting GIST. The goal of this collaboration is to discover a potent, oral inhibitor of KIT mutations, including all exon 17 resistance mutations.

“Virtually all GIST patients on first-line therapy progress due to the persistent and resistant nature of the disease,” said Dr. Jonathan Fletcher, Associate Professor, Harvard Medical School. “Therefore, there is significant unmet medical need for patients with advanced GIST. Specifically, we see a need for therapy active against the KIT exon 17 mutations.”

“Array has a proven track record of success in the discovery of novel drugs and we are very pleased to collaborate with them to identify our fourth product candidate,” said Patrick J. Mahaffy, president and CEO of Clovis Oncology. “This program is highly complementary to our current programs, takes advantage of our experience in developing targeted therapies with companion diagnostics and represents another cost effective approach to building our pipeline. If successful, we would hope to file an IND within three years, which is also well-timed as our existing pipeline matures.”

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,959.44 +154.64 0.87%
S&P 500 2,078.54 +7.89 0.38%
NASDAQ 4,781.4240 +16.0440 0.34%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs