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Array BioPharma Reports Financial Results for the Third Quarter of Fiscal 2013
Date:5/6/2013

BOULDER, Colo., May 6, 2013 /PRNewswire/ -- Array BioPharma Inc. (NASDAQ: ARRY) today reported results for the third quarter of its fiscal year ending June 30, 2013.

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Also today, Array announced the planned start of its first company-led Phase 3 trial with MEK162 in low-grade serous ovarian cancer.  This is the third MEK162 pivotal trial that is expected to initiate in 2013 and one of five pivotal trials Array expects to begin in 2013 on Array-invented products. Novartis, who is co-developing MEK162 with Array, previously stated that Phase 3 trials in NRAS-mutant melanoma and BRAF-mutant melanoma are expected to start this year and AstraZeneca has announced its plans to initiate two registration trials with selumetinib, a MEK inhibitor invented by Array, in KRAS-mutant non-small cell lung cancer and in thyroid cancer.  Array also recently released initial data on its wholly-owned hematology drug, ARRY-520, from a combination trial with Velcade® (bortezomib) in patients with relapsed or refractory multiple myeloma (MM), showing that the drug was generally well-tolerated and showed initial signs of activity in this heavily pretreated population.Ron Squarer, Chief Executive Officer of Array, noted, "With the recent Phase 3 announcements regarding Array-invented MEK inhibitors, MEK162 and selumetinib, and continuing progress with our wholly-owned hematology-oncology programs, we continue to deliver on our stated objective to become a late-stage development company focused in oncology."

Revenue for the third fiscal quarter ended March 31, 2013 was $10.0 million, compared to $19.1 million for the same period in fiscal 2012.  The decline in revenue was due to delays in anticipat
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