Quick & precise review on ArQule, Inc. (NASDAQ: ARQL) revenue report

      

Posted By - Marcia Kelsey

On Monday, Shares of ArQule, Inc. (NASDAQ: ARQL) price closed at $11.19 in the trading session. After opening the first trading session at $11.16, it registered a day’s high of $11.34 and touched a day’s low of $10.69. The last trade was registered at price of $11.01 and volume was 3,173,466 as compared to it’s an average volume of 3,116,549.

ArQule, Inc. (NASDAQ: ARQL) recently reported its financial results for the first quarter, 2019.

For the quarter ended March 31, 2019, the Company stated a net loss of $102.67M, or $0.09 per share, contrast with net loss of $65.32M, or $0.07 per share, for the quarter ended March 31, 2018.

As of March 31, 2019, the Company had a total of about $922.23M in cash, cash equivalents, and marketable securities.

Revenues and Expenses

Revenues for the first quarter, 2019, were $13.45M contrast with revenues of $41.38M for the first quarter, 2018.

Research and development expenses in the first quarter, 2019 were $74.48M contrast with $58.12M for the first quarter, 2018.

General and administrative expenses in the first quarter, 2019 were $43.00M contrast with $23.51M for the first quarter, 2018.

2019 Financial Guidance

Our 2019 financial guidance has not changed. For 2019, ArQule expects revenue to range between $3 and $5M. Net loss is predictable to range between $40 and $43M, and net loss per share to range between $(0.37) and $(0.39) for the year. ArQule expects to end 2019 with between $60 and $63M in cash and marketable securities.