ArQule, Inc. (ARQL) Reports In-Line Q1 EPS

ArQule, Inc. (NASDAQ: ARQL) reported Q1 EPS of ($0.11), in-line with the analyst estimate of ($0.11). At March 31, 2014, the Company had a total of $85,758,000 in cash, equivalents and marketable securities.

“The two Phase 3 trials with tivantinib in HCC are proceeding,” said Paolo Pucci, chief executive officer of ArQule. “These trials, which include METIV-HCC in the West and JET-HCC in Japan, are unique in that they are the only biomarker-directed trials ongoing in second-line HCC. We expect to provide updates on the projected time frame to completion of patient enrollment as more patients complete screening to ensure that they have MET-diagnostic high disease upon entry into the trial.

“The most advanced clinical trials with tivantinib that are being conducted under the NIH-CRADA program are randomized Phase 2 trials taking place in prostate cancer, head and neck cancer and kidney cancer,” said Mr. Pucci. “We plan to announce data from these independent trials as they are made available by sponsoring investigators.

“Our earlier clinical-stage programs are focused on ARQ 092, an Akt inhibitor, and ARQ 087, an FGFR inhibitor,” said Mr. Pucci. “Phase 1 trials with both of these products are nearing the achievement of maximum tolerated dose, and we plan to announce data from these trials later this year.”

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

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