ArQule cuts loss on Japanese deals
ArQule cut its net loss by 29% year-on-year for the first quarter of 2009, on new agreements with two Japanese drugmakers and out-sourcing.
R&D revenue rocketed 54% to $5.4 million, while R&D costs were down 16% to $11.3 million. Turnover was boosted by deals with Daiichi Sankyo and Kyowa Hakko Kirin. The decreased 2009 R&D expenses were primarily due to lower clinical out-sourcing costs, including those related to the E2F program.
As a result, the US drug developer's net loss fell to $9.9 million, or $0.23 per share, versus a loss of $13.9 million, or $0.32 per share.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
| Headless Content Management with Blaze