Total costs and expenses for the quarter ended March 31, 2012 were $12,902,000, compared to $14,936,000 for the first quarter of 2011. Research and development costs for the quarter ended March 31, 2012 were $9,303,000, compared to $11,393,000 for the first quarter of 2011. These decreases were primarily due to lower outsourced clinical and product development costs related to Phase 1 and 2 clinical programs for tivantinib.
General and administrative costs for the quarter ended March 31, 2012 were $3,599,000, compared to $3,543,000 for the first quarter of 2011.
Updated Financial Guidance
As previously stated, for 2012 ArQule expects net use of cash to range between $39 and $44 million. Revenues are expected to range between $40 and $45 million. Net loss is expected to range between $15 and $20 million. To reflect the April 16, 2012 common stock offering, net loss per share is now expected to range between $(0.25) and $(0.33) for 2012. As a result of the approximately $56 million of net proceeds from this offering, ArQule now expects to end 2012 with between $121 and $126 million in cash and marketable securities.Conference Call and Webcast Conference call details
|Date:||Thursday, May 3, 2012|
|Time:||9:00 a.m. Eastern Time|
|Conference Call Numbers|