DALLAS, Dec. 16, 2009 (GLOBE NEWSWIRE) -- InvestorSoup.com announces an investment report featuring Array BioPharma Inc. (Nasdaq:ARRY). The report includes financial, comparative and investment analyses, and pertinent industry information you need to know to make an educated investment decision.
It is available at: http://www.investorsoup.com/lp/ARRY
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Array BioPharma Inc. (ARRY) is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule drugs to treat patients afflicted with cancer, inflammatory and metabolic diseases. In addition, pharmaceutical and biotechnology companies collaborate with the Company to discover and develop drug candidates across a range of therapeutic areas. The Company has seven wholly owned programs in its development pipeline.
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In the report, the analyst notes:
"ARRY reported revenue of $7.9 million for the first quarter of fiscal 2010, compared to revenue of $5.7 million for the same period in fiscal 2009. ARRY invested $19.2 million in proprietary research and development during the quarter to advance its seven wholly owned drugs in clinical development and select discovery programs. This compares to $24.5 million invested in research and development during the first quarter of fiscal 2009. ARRY reported a net loss of $24.8 million, or ($0.52) per share, for the first quarter, compared to a net loss of $33.7 million, or ($0.71) per share, for the first quarter in fiscal 2009. ARRY ended the first quarter of fiscal 2010 with $77.3 million in cash, cash equivalents and marketable securities.
"ARRY and Amgen Inc. recently announced that they entered into an agreement granting Amgen exclusive worldwide rights to AARY's small-molecule glucokinase activator program, including ARRY-403, currently being tested in a phase 1 clinical trial in patients with Type 2 diabetes. Under the terms of the agreement, ARRY will receive an upfront payment of $60 million and additional contingent payments for certain clinical and commercial milestones."
To read the entire report visit: http://www.investorsoup.com/lp/ARRY
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