ArQule (ARQL) Misses Q1 EPS by 1c, Revenues Miss; Affirms 2Q EPS/Revenue Outlook

ArQule (NASDAQ: ARQL) reported Q1 EPS of ($0.09), $0.01 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $1.35 million versus the consensus estimate of $2.1 million.

Paolo Pucci, Chief Executive Officer of ArQule, commented, “We have made tremendous progress across our pipeline in Q1, and we are particularly pleased with the safety and dose dependent clinical activity profile that is emerging with ARQ 531.”

“We are busy collecting data for our ARQ 531 presentation at EHA, and we are confident that we will demonstrate meaningful incremental clinical activity in addition to the two PRs already announced”, commented Dr. Brian Schwartz, Chief Medical Officer of ArQule. “We are also pleased by the rapid review of the initial IRBs for our registrational trial with miransertib in Proteus syndrome and PROS.”

GUIDANCE:

ArQule sees Q2 2019 EPS of ($0.39)-($0.37), versus the consensus of ($0.37). ArQule sees Q2 2019 revenue of $3-5 million, versus the consensus of $3.87 million.

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

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