ArQule (ARQL) Misses Q3 EPS by 1c

ArQule (NASDAQ: ARQL) reported Q3 EPS of ($0.09), $0.01 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $200 thousand versus the consensus estimate of $1.15 million.

Paolo Pucci, Chief Executive Officer of ArQule, commented, “We are very excited to present the final phase 1 data set for ARQ 531 at ASH in December. These data will include meaningful updates on clinical activity and durability that provide a more complete picture of the potential of ARQ 531 and will reinforce its position as the leading reversible BTK inhibitor.”

“The tremendous progress ARQ 531 has made in such a short period has allowed us to provide first ever proof of concept with a reversible BTK inhibitor in the emerging unmet medical need of C481-mutant CLL patients. We are now actively recruiting patients in the multi-arm phase 2 trial,” commented Dr. Brian Schwartz, Chief Medical Officer of ArQule. “It is also very gratifying to have begun patient enrollment in our registrational MOSAIC trial in Proteus syndrome and PROS.”

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

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