1100412,ARRY,Array Biopharma Inc,NASDAQ,Pharmaceutical Preparations,Array BioPharma first-quarter loss widens on a YOY basis

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Array BioPharma first-quarter loss widens on a YOY basis
Source: IRIS | 02 Nov, 2016, 02.27PM

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Array BioPharma Inc. (ARRY) saw its loss widen to $28.61 million, or $0.20 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $20.99 million, or $0.15 a share.

Revenue during the quarter surged 142.46 percent to $39.27 million from $16.20 million in the previous year period. Gross margin for the quarter expanded 1583 basis points over the previous year period to 77.48 percent.

Operating loss for the quarter was $24 million, compared with an operating loss of $18.37 million in the previous year period.

"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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