An allosteric inhibitor of IGF-1R signaling; binding induces detachment of IRS1/2, recruitment of Shc to IGF-1R, and inhibitory phosphorylation and degradation of IRS1/2 in a MAPK-dependent manner; induces phosphorylation of IRS1/2 and cell death in 451-Lu-BR and MEL1617-BR melanoma cells; reduces tumor volume in a 451-Lu-BR mouse xenograft model (20 and 50 mg/kg); delays tumor progression in an LNCaP mouse xenograft model; reduces tumor growth when administered alone and does so synergistically when administered with docetaxel in a PC3 mouse xenograft model; reduces severity of bone erosions in a mouse model of arthritis induced by mBSA (10 mg/kg)