From the Boston Globe Business Team
ArQule swings to loss
May 3, 2007 11:04 AM
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Biotechnology company ArQule Inc. on Thursday posted a first-quarter loss, reversing a year-ago profit which included significant income from discontinued operations.
The company posted a loss of $14.5 million, or 40 cents per share in the latest quarter, compared with year-ago net income of $4.3 million or 12 cents per share, which included income from discontinued operations of $14 million, or 40 cents per share.
Arqule ceased its chemistry services operations in May 2006 after Pfizer concluded its agreement with the company.
Revenue remained flat at $1.7 million.
Analysts polled by Thomson Financial expected a loss of 41 cents per share on revenue of $1.7 million. (AP)
