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ArQule: Buy the Dip?

TheMotleyFool

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A little clinical data can go a long way. Promising updates from two pipeline assets have catapulted shares of ArQule (NASDAQ: ARQL) 230% higher since the beginning of 2019. The company's market cap soared to $1.3 billion, which is pretty impressive considering it has rarely topped $400 million in the last decade.

The clinical results announced to date need to be replicated in larger trials, but investors have reason to be at least a little excited for the company's future. Knowing that, what should investors make of the fact that shares of ArQule have tumbled 20% since the beginning of July? Is the stock a buy?

Image source: Getty Images.

Source Fool.com

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