ArQule (ARQL) saw its loss widen to $5.82 million, or $0.08 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $2.35 million, or $0.04 a share.
Revenue during the quarter plunged 53.90 percent to $1.22 million from $2.65 million in the previous year period.
Operating loss for the quarter was $5.87 million, compared with an operating loss of $2.37 million in the previous year period.
“It is exciting to see our proprietary pipeline being pursued independently and through collaborations with the top researchers in the fields of oncology, hematology and selected rare diseases," said Paolo Pucci, chief executive officer of ArQule. "We are encouraged that several projects have attracted the interest of leading scientific institutions including ARQ 531, our BTK inhibitor, which is in preclinical testing with our collaborators at The Ohio State University. ARQ 092 continues to progress in Proteus syndrome through a program that includes a phase 1 trial conducted by the NIH. In addition, we now have preclinical data for ARQ 092 in Sickle Cell Disease through the work of The University of Illinois College of Medicine. Lastly, we are pleased to have moved closer to a potential pivotal trial in an attractive fast to market opportunity for ARQ 087 in iCCA."
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