ArQule (ARQL) Tops Q2 EPS by 2c, Revenues Beat

ArQule (NASDAQ: ARQL) reported Q2 EPS of $0.05, $0.02 better than the analyst estimate of $0.03. Revenue for the quarter came in at $13.7 million versus the consensus estimate of $10.15 million.

As a result of the July 2018 stock offering and the prior conversion of our preferred stock into 8,370,000 shares of common stock, we have updated our 2018 guidance. For 2018, ArQule now expects revenue to range between $21 and $23 million. Net use of cash is expected to range between $28 and $30 million for the year. Net loss is expected to range between $10 and $14 million, and net loss per share to range between $(0.10) and $(0.14) for the year. ArQule expects to end 2018 with between $100 and $102 million in cash and marketable securities.

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

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