Arqule (ARQL) Tops Q1 EPS by 1c

Arqule (NASDAQ: ARQL) reported Q1 EPS of ($0.07), $0.01 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $2.79 million versus the consensus estimate of $1.98 million.

Operational Update

• Enrollment in the pivotal Phase 3 METIV-HCC trial in hepatocellular carcinoma (HCC) with tivantinib is continuing on schedule toward the goal of completing patient accrual by year end;
• Presentations of ARQ 087 at the Annual Meeting of the American Association for Cancer Research (AACR) provide further rationale for the ongoing development of this compound in Phase 2 cholangiocarcinoma and beyond;
• The protocol for ARQ 092 Phase 1 trial in Proteus syndrome has been approved by the Institutional Review Board (IRB), and a regulatory submission to begin a clinical trial has been made by our partners at the National Institutes of Health (NIH);
• A research and development collaboration has been established with Beryllium Development Corp. to pursue small molecule inhibitors of PD1 and PDL-1 using ArQule’s proprietary library.

For earnings history and earnings-related data on Arqule (ARQL) click here.

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