BURLINGTON, Mass.--(BUSINESS WIRE)--ArQule, Inc. (NASDAQ: ARQL) today announced its financial results for the fourth quarter and full year of 2016.
For the quarter ended December 31, 2016, the Company reported a net loss of $6,820,000 or $0.10 per share, compared with net loss of $2,852,000 or $0.05 per share, for the quarter ended December 31, 2015. The Company reported a net loss of $22,718,000 or $0.33 per share, for the year ended December 31, 2016, compared with a net loss of $13,774,000 or $0.22 per share, for the year ended December 31, 2015.
At December 31, 2016, the Company had a total of approximately $31,126,000 in cash and marketable securities.
Key Highlights
ARQ 087, our proprietary FGFR inhibitor, is planned to advance to a pivotal phase 3 biomarker driven trial in second-line intrahepatic cholangiocarcinoma (iCCA) patients with FGFR2 fusions. A phase 1/2 trial including 29 second-line iCCA patients harboring FGFR2 fusions has completed enrollment and generated compelling clinical evidence to support a pivotal trial. Preliminary data from this phase 1/2 iCCA trial demonstrate a 24% response rate. Of 25 evaluable patients, six have achieved partial responses and a median time on therapy of approximately 26 weeks has been observed. To date, the disease control rate for the overall trial is 76%.
