This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

ArQule Reports Second Quarter 2012 Financial Results

Stocks in this article: ARQL

ArQule, Inc. (NASDAQ: ARQL) today announced its financial results for the second quarter of 2012.

For the quarter ended June 30, 2012, the Company reported a net loss of $885,000 or $0.01 per share, compared with a net loss of $10,804,000 or $0.20 per share, for the second quarter of 2011. For the six-month period ended June 30, 2012, the Company reported a net loss of $5,145,000 or $0.09 per share, compared to a net loss of $12,270,000 or $0.24 per share, for the six-month period ended June 30, 2011.

At June 30, 2012, the Company had a total of approximately $147,068,000 in cash, equivalents and marketable securities.

Operational Update

  • Completion of patient recruitment in the randomized, double-blind Phase 3 MARQUEE pivotal trial of tivantinib in second-line patients with non-squamous, non-small cell lung cancer (NSCLC);
  • Presentation of randomized Phase 2 data at the 2012 Annual Meeting of the American Society of Clinical Oncology (ASCO) highlighting significant clinical benefits observed in second-line hepatocellular carcinoma (HCC) patients with MET-high tumors treated with tivantinib as a single agent;
  • Presentations of Phase 1 data at the 2012 Annual Meeting of ASCO highlighting evidence of the clinical benefit and safety of tivantinib in combination with sorafenib in cohorts of patients with HCC, renal cell carcinoma and melanoma.

“The timely completion of patient recruitment in the MARQUEE trial marks an important milestone in the development of tivantinib in non-squamous cell non-small cell lung cancer, a disease with a high unmet need for additional effective treatment options,” said Paolo Pucci, chief executive officer of ArQule. “Approximately 1,000 patients from more than 200 clinical sites worldwide are participating in this trial, which is being conducted under a Special Protocol Assessment in the U.S.

“Findings presented recently at ASCO represent the first randomized data reported in HCC with an investigational MET inhibitor as single-agent therapy in second-line treatment,” said Mr. Pucci. “Based on the positive clinical results in previously treated HCC patients with MET-high tumors, planning is underway for a Phase 3 trial in this population.”

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,416.85 +225.48 1.31%
S&P 500 2,021.25 +19.09 0.95%
NASDAQ 4,683.4070 +45.4130 0.98%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs