ArQule, Inc. Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2018; Provides Earnings Guidance for the Year 2018
The company announced that as a result of the April 2018 exclusive license agreement with Basilea, the company's guidance for 2018 is being updated. For 2018, the company now expects revenue to range between $14 and $17 million. Net use of cash is expected to range between $27 and $29 million for the year. Net loss is expected to range between $16 and $21 million, and net loss per share to range between $0.18 and $0.24 for the year. The company expects to end 2018 with between $40 and $42 million in cash and marketable securities.