U.S. Markets open in 6 hrs 43 mins

ArQule: 1Q Earnings Snapshot

BURLINGTON, Mass. (AP) _ ArQule Inc. (ARQL) on Wednesday reported a loss of $10.2 million in its first quarter.

On a per-share basis, the Burlington, Massachusetts-based company said it had a loss of 9 cents.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 8 cents per share.

The biotechnology company posted revenue of $1.3 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $1.7 million.

ArQule expects a full-year loss of 39 cents to 37 cents per share, with revenue in the range of $3 million to $5 million.

ArQule shares have more than doubled since the beginning of the year. The stock has more than doubled in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARQL at https://www.zacks.com/ap/ARQL