First Melanoma, Skin Cancer Drug Might Be Available Soon

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The Reuters reported that Array BioPharma has succeeded on its ongoing late-stage study of binimetinib, an experimental drug for treating skin cancer.

The data collected concluded that those advanced NRAS-mutant melanoma patients who were treated with the experimental drug have prolonged the progress of their skin cancer. Patients who were treated with binimetinib took a median of 2.8 months before their illness progressed. It is higher than the 1.5 months for patients given the currently used chemotherapy dacarbazine.

The Array BioPharma website stated that binimetinib is an oral small-molecule MEK inhibitor. It will be the first and probably the only medicine available for treating this "difficult-to-treat disease" in the foreseeable future, according to Chief Executive Ron Squarer. This means that it is anticipated that there won't be a company other than Array BioPharma that would invent a medicine like binimetinib in the near future.

According to Wall Street Journal, after reports that Array BioPharma succeeded in its ongoing binimetinib third phase trial, the stocks of the Colorado-based company went up by 32 percent to $5.06 during the premarket trading. It is a good news to the company, especially that they were trading at their lowest levels before the announcement of their late-stage study's success.

Among the biggest factors that helped the Colorado-based company boost their stocks is the fact that the third phase is considered to be the last stage before the Food and Drug Administration (FDA) approved any kind of drug. Therefore, Array BioPharma will soon be offering this drug to the public upon approval.

Before that, the company needs to submit the drug for regulatory approval for NRAS-mutant melanoma first. They are planning to do it in the first half of the year 2016. If there won't be any problem at all, it is anticipated that the skin cancer drug will hit the US market either in the late 2016 or early 2017.

There is still no report as to how much the drug will cost as the Chief Executive of Array BioPharma declined to provide details in terms of pricing.

On the other hand, it is pointed out that the binimetinib drug is also already on its third phase of the study for treating patients suffering from low-grade serous ovarian cancer and patients diagnosed with BRAF-mutant melanoma. Once these two trials also succeed, the company stocks expected to rise again.

There are also other clinical trials for the drug. However, these trials are still in its early stage.