ArQule, Inc. Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Earnings Guidance for the Year 2018
For the six months, the company reported income from operations of $660,000 compared with loss from operations of $14,117,000 for the same period a year ago. Net loss was $1,376,000 or $0.02 per basic and diluted share compared with $14,777,000 or $0.15 per basic and diluted share for the same period a year ago. Research and development revenues were $17,844,000.
For 2018, the company now expects revenue to range between $21 and $23 million. Net use of cash is expected to range between $28 and $30 million for the year. Net loss is expected to range between $10 and $14 million, and net loss per share to range between $0.10 and $0.14 for the year.