Array Biopharma (NASDAQ: ARRY) reported Q1 EPS of ($0.20), $0.04 worse than the analyst estimate of ($0.16). Revenue for the quarter came in at $39.3 million versus the consensus estimate of $32.47 million.

"We were pleased to report that COLUMBUS met its primary endpoint and demonstrated a robust PFS benefit associated with the combination of binimetinib plus encorafenib versus vemurafenib in patients with BRAF-mutant melanoma," said Ron Squarer, Chief Executive Officer of Array BioPharma. "We look forward to sharing results at SMR, partnering with global regulatory authorities on planned 2017 submissions for COLUMBUS and preparing for potential commercialization."

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