ArQule Issues 2016 Guidance - Quick Facts

(RTTNews) - ArQule, Inc. (ARQL) said the company expects fiscal 2016 net loss to range between $24 and $27 million, and net loss per share to range between $0.34 and $0.39. The company expects revenues to range between $4 and $5 million. Analysts polled by Thomson Reuters expect the company to report a loss per share of $0.36 on revenue of $4.30 million. Analysts' estimates typically exclude special items.

For the quarter ended March 31, 2016, the company reported a net loss of $4.98 million or $0.08 per share, compared with a net loss of $4.55 million or $0.07 per share, for the quarter ended March 31, 2015.

Revenues for the quarter ended March 31, 2016, were $1.23 million compared with revenues of $2.79 million, for the quarter ended March 31, 2015. Research and development expenses in the first quarter of 2016 were $4.20 million compared with $4.41 million for the first quarter of 2015.