ArQule, Inc. (ARQL) saw its loss widen to $7.58 million, or $0.11 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $4.98 million, or $0.08 a share. The company has not recorded any revenues for the current quarter. However, it has reported a revenue of $1.23 million for the previous year period.
Operating loss for the quarter was $7.27 million, compared with an operating loss of $5.02 million in the previous year period.
"We achieved two important milestones already this year, the initiation of our company-sponsored trial in Overgrowth Diseases with ARQ 092 and the clearance of the IND for ARQ 531 in B-cell malignancies," said Paolo Pucci, chief executive officer of ArQule. "These milestones enable ArQule to execute the next phase of its business plan. In addition, we are looking forward to presenting data from our iCCA trial with ARQ 087 at ASCO in June and initiating the registrational trial in this indication."
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