New book by Larry Connors Click here Improve your trading - See how
In a release on November 2, the Company reported revenue of $7.9 million for the first quarter of fiscal 2010, compared to revenue of $5.7 million for the same period in fiscal 2009. Array invested $19.2 million in proprietary research and development during the quarter to advance its seven drugs in clinical development and select discovery programs. This compares to $24.5 million invested in research and development during the first quarter of fiscal 2009. Array reported a net loss of $24.8 million, or ($0.52) per share, for the first quarter, compared to a net loss of $33.7 million, or ($0.71) per share, for the first quarter in fiscal 2009. Array ended the first quarter of fiscal 2010 with $77.3 million in cash, cash equivalents and marketable securities. "We are excited about the rapid progress we made in our proprietary pipeline during the quarter while we tightened our spending and secured additional capital," said Robert E. Conway, Chief Executive Officer. "Following our success with our glucokinase activator ARRY-403 in a single ascending dose trial, we initiated a multiple ascending dose trial in type 2 diabetic patients. We've also finished enrolling the first two cohorts of advanced cancer patients in an escalating dose trial with ARRY-162, our lead MEK inhibitor." Array received additional capital: Array received $40.0 million in additional capital from the Deerfield Funds under a loan facility agreement dated May 15. The outstanding principal under the new loan is due by April 2014 and interest is payable monthly. Principal and interest can be repaid, at Array's option, subject to certain limitations, at any time with shares of Array common stock. Array BioPharma Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small-molecule drugs to treat patients afflicted with cancer, inflammatory diseases, pain and metabolic diseases. ((Comments on this story may be sent to health@closeupmedia.com)) For full details for ARRY click here.
Email Print Archives Feedback Email Article Link
Close X
Related News [ARRY]
UPCOMING EVENTS
Learn new strategies, how to trade in this market, and the stocks you should be focusing on each day. Join us for our free 20 minute tele-seminars during the week.
Wednesday December 2 04:30 PM
Thursday December 3 12:30 PM
Wednesday December 2 01:00 PM
* Attendance is strictly limited and are filled on a first-come, first-served basis.
The TradingMarkets Directory
Stocks
Options
Forex
E-mini/Futures
How to Trade
Tools
PowerRatings
Blogs
Premium Subscription Services
RELATED SITES
Please call 1-213-955-5858 ext. 1
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment. HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. The Connors Group, Inc. © Copyright 2009 The Connors Group, Inc. All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy. © 2009 The Connors Group, Inc.
|
