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