Biotech company ArQule, Inc. (NASDAQ:ARQL), which is involved in manufacturing precision cancer medicines, has been one of the most significant gainers in the market over the past two weeks. As of now, ArQule, Inc. stock has gained as much as 75% over the past two weeks.
Clinical Trial Of ARQ 531
It all started back on 14 June, when ArQule released the interim data from Phase 1 of the clinical trial for its medicine ARQ 531. The medicine in question is meant for the treatment of blood cancers and the results were encouraging. The data with relation to the proof of concept metrics showed that the medicine has the potential to be used to treat a whole range of blood cancers.
The data clearly indicated that the ARQ 531 product has the merits to go on to become an effective treatment for blood cancers and on that note, the stock started climbing. It rose by as much as 44.7% that day. However, that was not the end of the ArQule rally and a few days later the stock started climbing again after interim data was released for another medicine.
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Clinical Trial Of ARQ 092
On 17 June, ArQule revealed that the interim data from the clinical test of ARQ 092 was largely positive. The medicine in question is meant for the treatment of rare overgrowth diseases. On the same day that this news broke, the stock soared by as much as 21% to make ArQule one of the biggest gainers in the market.
According to experts, the impressive growth in the ArQule stock over the past two weeks is down to the fact that investors are now able to witness a lot of promise in the company’s pipeline of medicines. When a company has more than one promising product with encouraging data, then it is not a surprise to witness its stock having a good time.
ARQL stock is one of the biggest biotech stock gainers this year with a gain of over 280% since the beginning of this year. Moreover, the stock made a new 17-year high of $11.11 earlier in the session.