BOULDER, Colo.--(BUSINESS WIRE)--Array BioPharma Inc. (NASDAQ: ARRY) today reported financial results for the third quarter of fiscal 2007. Array reported revenue of $10.4 million for the third quarter of fiscal 2007, compared to revenue of $11.7 million for the same period in fiscal 2006. Collaboration revenue decreased as a result of shifting resources to advance and expand Array’s internal proprietary drug discovery programs. Revenue from license fees and milestone payments increased due to achieving milestones that trigger payments from AstraZeneca PLC and InterMune, Inc. Array invested $15.7 million in proprietary research and development for the quarter in connection with advancing its eight wholly owned development programs as well as its portfolio of discovery programs. This compares to $7.7 million during the same quarter last year. Array reported a net loss of $14.1 million, or ($0.35) per share, for the third quarter, compared to a net loss of $9.2 million, or ($0.24) per share, for the same quarter in fiscal 2006. Array ended the third quarter of fiscal 2007 with $73.9 million in cash, cash equivalents and marketable securities.
