ArQule (ARQL) Misses Q1 EPS by 1c, Beats on Revenues; Offers FY18 EPS Mid-Point Outlook Below Consensus, Revenue Guidance Above Consensus

ArQule (NASDAQ: ARQL) reported Q1 EPS of ($0.07), $0.01 worse than the analyst estimate of ($0.06). Revenue for the quarter came in at $4.14 million versus the consensus estimate of $2.11 million.

2018 Updated Financial Guidance

As a result of the April 2018 exclusive license agreement with Basilea, our guidance for 2018 is being updated. For 2018, ArQule now expects revenue to range between $14 and $17 million. Net use of cash is expected to range between $27 and $29 million for the year. Net loss is expected to range between $16 and $21 million, and net loss per share to range between $(0.18) and $(0.24) for the year. ArQule expects to end 2018 with between $40 and $42 million in cash and marketable securities.

GUIDANCE:

ArQule sees FY2018 EPS of ($0.24)-$0.18, versus the consensus of ($0.24). ArQule sees FY2018 revenue of $14-17 million, versus the consensus of $8.04 million.

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

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