ArQule: 2Q Earnings Snapshot
BURLINGTON, Mass. (AP) _ ArQule Inc. (ARQL) on Wednesday reported a second-quarter loss of $9.1 million, after reporting a profit in the same period a year earlier.
The Burlington, Massachusetts-based company said it had a loss of 8 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.
The biotechnology company posted revenue of $281,000 in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $1.4 million.
ArQule expects a full-year loss of 37 cents to 35 cents per share, with revenue in the range of $3 million to $5 million.
ArQule shares have more than tripled since the beginning of the year. The stock has climbed 82% in the last 12 months.