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28 February, 2024 19:15 IST
Array Biopharma third-quarter loss widens on a YOY basis
Source: IRIS | 10 May, 2017, 07.03PM

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Array Biopharma (ARRY) saw its loss widen to $35.32 million, or $0.21 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $22.68 million, or $0.16 a share.      

Revenue during the quarter dropped 22.69 percent to $33.28 million from $43.05 million in the previous year period. Gross margin for the quarter contracted 875 basis points over the previous year period to 77.67 percent. Operating margin for the quarter stood at negative 95.96 percent as compared to a negative 46.48 percent for the previous year period.

Operating loss for the quarter was $31.94 million, compared with an operating loss of $20.01 million in the previous year period.

"The robust PFS benefit and tolerability observed with binimetinib plus encorafenib in COLUMBUS suggest the combination represents a potential important addition to the MEK BRAF treatment landscape for patients with BRAF-mutant melanoma," said Ron Squarer, chief executive officer, Array BioPharma.

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