Array BioPharma Company Overview and Financials

Array BioPharma is a biopharmaceutical company that focuses on developing and commercializing small molecule drugs to treat various types of cancer.

The company was founded in 1998 by a team of experienced biotech professionals, including Kevin Koch, who served as the company's first CEO.

Array BioPharma is headquartered in Boulder, Colorado, and has a strong presence in the biotech industry, with a portfolio of over 20 clinical-stage programs.

The company has received significant funding from investors, including a $200 million investment from the venture capital firm, New Enterprise Associates.

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Pfizer announced its intention to acquire Array BioPharma in June 2019.

The acquisition aimed to strengthen Pfizer's oncology pipeline and bring in Array's expertise in cancer treatments.

Array BioPharma was founded in 1998 by Victor Sandor and Charles G. Blum.

The company's focus on developing targeted cancer therapies aligned with Pfizer's own oncology strategy.

Array's research and development efforts led to the development of several cancer therapies, including encorafenib and binimetinib.

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These treatments have shown promise in clinical trials for various types of cancer, including melanoma and colorectal cancer.

Pfizer's acquisition of Array BioPharma marked a significant expansion of its oncology capabilities.

The deal was valued at approximately $11.4 billion, making it one of the largest acquisitions in Pfizer's history.

Pfizer's acquisition of Array BioPharma has the potential to bring new cancer treatments to patients worldwide.

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Array BioPharma is a biopharmaceutical company focused on developing targeted small molecule drugs to treat cancer patients.

They have locations in Boulder, CO; Cambridge, MA; and Morrisville, NC.

Array has eight registration studies advancing related to seven of their owned or partnered drugs, including binimetinib, encorafenib, and tucatinib.

Pfizer acquired Array BioPharma in a deal worth $11.4 billion, their third acquisition since March.

We're a biopharmaceutical company focused on developing targeted small molecule drugs to treat cancer patients.

Our main goal is to improve the lives of cancer patients through our research and development efforts.

We have a presence in three locations: Boulder, CO; Cambridge, MA; and Morrisville, NC.

Array BioPharma Inc. is listed on the NASDAQ stock exchange under the ticker symbol ARRY.

We're currently advancing eight registration studies related to seven of our drugs, including binimetinib, encorafenib, and selumetinib.

Pfizer's acquisition of Array BioPharma is a significant deal in the biopharmaceutical industry. The company is paying $11.4 billion for Array, a 62% premium on Array's closing price June 14.

Array is a biopharmaceutical company focused on the discovery, development, and commercialization of targeted small molecule drugs to treat cancer. Eight registration studies are currently advancing related to seven Array-owned or partnered drugs.

Pfizer's acquisition of Array is its third since March, making it the biggest by far at $11.4 billion. The Array deal comes in the area of targeted oncology drugs using kinase inhibition, which has been overshadowed in the era of immuno-oncology.

Array gained approval in June 2018 for two drugs for melanoma, Braftovi and Mektovi, which had combined sales of $72 million in the first nine months after launch. The combination recently had positive results in colorectal cancer, a disease where it could become the first-line treatment.

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Pfizer's credit rating was put under review by S&P Global and declared "credit negative" by Moody's due to the acquisition. This is likely due to the significant debt financing involved in the deal.

Array has partnered with several companies, including AstraZeneca, Roche, Genentech, and Loxo Oncology, to develop and commercialize its drugs. This partnership strategy allows Array to leverage the expertise and resources of these companies to advance its pipeline.

The Array deal will be challenging for Pfizer's financial outlook, with executives estimating it will be 4 to 5 cents dilutive to earnings per share in each year 2019 and 2020. However, Pfizer believes the deal is justified by the commercial prospects for Braftovi/Mektovi and the Array pipeline.

Here are some key statistics about the Array deal:

Pfizer is planning to maintain Array's laboratories as part of its research network. This will allow the company to continue developing its pipeline of targeted oncology drugs.

Array BioPharma has a market capitalization of around $16 billion. Array BioPharma was acquired by Pfizer in 2019 for approximately $11.6 billion.

Array BioPharma has a diverse pipeline of clinical and preclinical programs, including small molecules and biologics. This includes programs in oncology, inflammation, and other therapeutic areas.

Array BioPharma's financials have been impacted by its acquisition by Pfizer, with Pfizer providing significant funding to support Array's research and development efforts.

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Pfizer announced the acquisition of Array BioPharma for $11.4 billion. This is a significant deal, as it represents a 62% premium on Array's closing price June 14, with a share offer price of $48.

The acquisition is financed with a combination of debt and cash, with a "strong majority" represented by debt. This has already raised some concerns, as Pfizer's credit rating was put under review by S&P Global and declared "credit negative" by Moody's.

Array has gained approval for two drugs, Braftovi and Mektovi, which are used to treat melanoma. These drugs had combined sales of $72 million in the first nine months after launch.

The combination of Braftovi and Mektovi has recently shown positive results in colorectal cancer, a disease where it could become the first-line treatment. This is a significant development, as colorectal cancer is a major disease area.

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