Categories Earnings, Health Care

Earnings: Array BioPharma reports upbeat Q3 results

Array BioPharma (NASDAQ: ARRY) reported a narrower-than-expected loss in the third quarter of 2019, sending its shares up 0.5% during pre-market trading on Tuesday. The company reported a loss of 17 cents per share, compared to 21 cents expected by Wall Street.

Revenues for the quarter fell to $64.7 million, primarily due to the recognition of the Vitrakvi milestones in the prior quarter. But the top line was still higher than the street view of $51.5 million.

Image for representation (Photo by Drew Hays on Unsplash)

ARRY shares have gained 55% so far this year and 65% in the year-to-date period.

CEO Ron Squarer said, “U.S. demand for BRAFTOVI + MEKTOVI for patients with BRAF-mutant metastatic melanoma continues to be strong with over $35 million in net product sales during the third commercial quarter.”

READ: THE QUESTION EVERY POT INVESTOR ASKS HIMSELF – AURORA CANNABIS OR HEXO?

Net Product Sales for BRAFTOVI + MEKTOVI for the third quarter of fiscal 2019 were $35.1 million, compared to $22.7 million for the second quarter of fiscal 2019.

The Boulder, Colorado-based biotechnology firm has partnered with Bristol-Myers Squibb (BMY), Merck (MRK) and Pfizer (PFE) to study numerous cancer drug combinations.

 

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

One thought on “Earnings: Array BioPharma reports upbeat Q3 results

Leave a Reply

Your email address will not be published. Required fields are marked *

Add Comment
Loading...

Cancel
Viewing Highlight
Loading...
Highlight
Close
Top