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Last $1.79 USD
Change Today +0.03 / 1.70%
Volume 2.1K
ARQL On Other Exchanges
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As of 9:45 AM 08/31/15 All times are local (Market data is delayed by at least 15 minutes).

arqule inc (ARQL) Key Developments

ArQule Inc. Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Full Year 2015

ArQule Inc. announced unaudited earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported loss from operations of $4,099,000 compared with $6,406,000 for the same period a year ago. Net loss was $4,017,000 or $0.06 per basic and diluted share compared with $6,339,000 or $0.10 per basic and diluted share for the same period a year ago. The company reported total revenues of $3,004,000 for the quarter ended June 30, 2015, compared with revenues of $2,901,000 for the quarter ended June 30, 2014. Revenue in the quarter ended June 30, 2015, is comprised of revenue from the Daiichi Sankyo tivantinib development agreement and the Kyowa Hakko Kirin exclusive license agreement for tivantinib. The $0.1 million revenue increase for the quarter ended June 30, 2015 is due to higher revenue from the Daiichi Sankyo tivantinib program. For the six months, the company reported loss from operations of $8,914,000 compared with $13,711,000 for the same period a year ago. Net loss was $8,568,000 or $0.14 per basic and diluted share compared with $13,480,000 or $0.22 per basic and diluted share for the same period a year ago. Revenues for the six months ended June 2015, were $5,789,000 compared with revenues of $5,577,000 for the 6 months ended June 30, 2014. Revenue in the six months ended June 30, 2015, is comprised of revenue from the Daiichi Sankyo tivantinib development agreement and the Kyowa Hakko Kirin exclusive license agreement for tivantinib. The increase of $0.2 million in the six months ended June 30, 2015, is due to higher revenue from the Daiichi Sankyo tivantinib program. For 2015, the company expects net use of cash to range between $26 million and $29 million, revenue is expected to range between $8 million and $10 million, net loss is expected to range between $18 million and $21 million and net loss per share is to range between $0.29 and $0.33 loss for the year.

ArQule Inc. to Report Q2, 2015 Results on Aug 05, 2015

ArQule Inc. announced that they will report Q2, 2015 results at 9:00 AM, US Eastern Standard Time on Aug 05, 2015

ArQule Inc., Q2 2015 Earnings Call, Aug 05, 2015

ArQule Inc., Q2 2015 Earnings Call, Aug 05, 2015

ArQule Announces Interim Phase 2 Study Results for Tivantinib in Combination with Cetuximab in Patients with MET-High, KRAS Wild Type Colorectal Cancer

ArQule Inc. announced interim data from an ongoing investigator-initiated Phase 2 clinical trial with tivantinib in combination with cetuximab in patients with MET-High, KRAS wild-type metastatic colorectal cancer (CRC) NCT01892527 who recently progressed on anti-EGFR antibodies. These data were presented on July 3rd at the European Society of Medical Oncology (ESMO) World GI 2015 (abstract number O-008) by Dr. Lorenza Rimassa, MD, Deputy Director, Medical Oncology Unit at Humanitas Cancer Center, in Rozzano (Milan, Italy). The primary endpoint of the trial is ORR in the biomarker defined population. Secondary study endpoints are progression-free survival (PFS), overall survival (OS) and safety. The ESMO World GI presentation included data from 21 patients enrolled in Stage 1 of this trial. One patient, still on therapy, experienced a complete response (CR) and 2 patients experienced durable confirmed partial responses (PRs). Stable disease was observed in 8 patients, including 2 short duration PRs, for an overall Disease Control Rate (CR + PR + SD) of 52.4%. Having met the Stage 1 endpoint (=2 confirmed responses), the trial continued to Stage 2 and has recently completed enrollment. Adverse events were in line with those historically reported, including skin toxicity attributed to cetuximab, and neutropenia attributed to tivantinib. Neutropenia was addressed timely with growth factors and dose adjustments. The trial is a 2-stage, investigator-initiated study testing tivantinib plus cetuximab after recent progression on anti-EGFR antibodies. The trial is coordinated by the Humanitas Cancer Center in Milan, Italy. Stage 1 enrolled 21 patients, and Stage 2 recently completed enrollment of 20 additional patients. Final results from the 41 patients enrolled are expected by the end of 2015.

ArQule Inc. Appoints Robert J. Weiskopf as Chief Financial Officer

ArQule Inc. announced that Robert J. Weiskopf has been appointed chief financial officer. Mr. Weiskopf was previously vice president of finance, corporate controller and treasurer of the company. He will retain the title of treasurer and continue to report to Paolo Pucci, chief executive officer of the company. Prior to joining the company in 2007, Mr. Weiskopf was chief financial officer of Aware Inc. from 2004 until 2006. Prior to that, Mr. Weiskopf was director of finance at Lightbridge Inc. from 2000 to 2004.

 

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