Key Developments: Array Biopharma Inc (ARRY.O)
5.56USD
23 May 2013
$-0.24 (-4.14%)
$5.80
$5.72
$5.73
$5.52
802,419
1,118,679
$6.56
$3.00
Latest Key Developments (Source: Significant Developments)
Array Biopharma Inc Reaffirms FY 2013 Guidance
Array Biopharma Inc announced that for fiscal 2013, it expects revenue to come in about $60 million with loss per share of $0.55. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $62 million and EPS of $(0.54) for fiscal 2013. Full Article
Array Biopharma Inc Lowers FY 2013 Revenue Guidance; Raises FY 2013 EPS Guidance; Issues Q3 Guidance Below Analysts' Estimates-Conference Call
Array Biopharma Inc announced that for fiscal 2013, it expects revenue to come in about $60 million with loss per share of $0.55. For the third quarter of 2013, it expects $14 million in revenue and a $0.14 loss per share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $62 million and EPS of $(0.58) for fiscal 2013; and revenue of $15 million and EPS of $(0.15) for the third quarter of 2013. Full Article
Array Biopharma Inc Announces Exercise And Closing Of Underwriters' Over-Allotment Option
Array Biopharma Inc announced that the sale of 2,700,000 shares of its common stock pursuant to the exercise of the over-allotment option granted to the underwriters in connection with Array's previously announced underwritten public offering of 18,000,000 shares of its common stock at a public offering price of $3.65 per share. The total net proceeds to Array, including from the exercise of the over-allotment option, were $70.9 million, after deducting underwriting discounts and estimated expenses. Jefferies & Company, Inc. and J.P. Morgan Securities LLC acted as joint book-running managers for the offering, with Piper Jaffray & Co., Stifel Nicolaus Weisel and William Blair acting as co-managers. Full Article
Array Biopharma Inc Announces Proposed Public Offering Of Common Stock
Array Biopharma Inc announced that it is offering to sell shares of its common stock pursuant to an effective shelf registration statement in an underwritten public offering. Array also intends to grant the underwriters a 30-day option to purchase additional shares of common stock to cover over-allotments, if any. All of the shares to be sold in the offering are to be sold by Array, with the proceeds to be used to fund research and development activities and for general corporate purposes. Jefferies & Company, Inc. and J.P. Morgan Securities LLC are acting as joint book-running managers for the proposed offering, with Piper Jaffray & Co., Stifel Nicolaus Weisel and William Blair acting as co-managers. Full Article
Array Biopharma Inc Reaffirms FY 2013 Guidance; Issues Q2 2013 Guidance; EPS Guidance Above Analysts' Estimates-Conference Call
Array Biopharma Inc announced that it is holding its guidance for fiscal 2013 without any change. Revenue should come in at about $62 million with loss per share around $0.60. For the second quarter of 2013, the Company is looking for a very similar quarter as what just finished at $16 million in revenue and a $0.14 loss per share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $64 million and EPS of $0.60 for fiscal 2013; and revenue of $16 million and EPS of $(0.15) for the second quarter of 2013. Full Article
Array Biopharma Inc Issues FY 2013 EPS Guidance Below Analysts' Estimates; Issues Q1 2013 Mixed Guidance-Conference Call
Array Biopharma Inc announced that it is targeting loss per share (EPS) to be $0.60 for fiscal 2013. For the first quarter of 2013, the Company expects revenue to be approximately $17 million and loss per share about $0.15. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $(0.51) for fiscal 2013; and revenue of $15 million and EPS of $(0.14) for the first quarter of 2013. Full Article
Clovis Oncology Inc and Array BioPharma, Inc. Announce Agreement To Discover Mutant KIT Inhibitor
Clovis Oncology Inc and Array BioPharma, Inc. announced an agreement for the discovery of a KIT inhibitor targeting resistance mutations for the treatment of GIST. GIST is a gastrointestinal cancer diagnosed each year in more than 12,000 patients in the US and EU and 2,500 in Japan. Currently approved therapies for GIST include the tyrosine kinase inhibitors (TKIs) Gleevec (imatinib), and Sutent (sunitinib), typically used first- and second-line respectively. Each inhibits some KIT mutations, but acquired resistance due to secondary KIT mutations occurs in the majority of GIST patients, resulting in disease progression. Full Article
Array BioPharma, Inc. Updates FY 2012 Guidance
Array BioPharma, Inc. updated guidance for fiscal 2012. The guidance is close to unchanged, with revenue at $85 million and net loss for the year of $27 million. Full Article
Array BioPharma, Inc. Announces Chairman Change-Form 8-K
Array BioPharma, Inc. reported in its Form 8-K that on April 26, 2012, the Board of Directors of Array BioPharma appointed Ron Squarer as Array’s Chief Executive Officer effective April 26, 2012. The Board of Directors also elected Mr. Squarer as a Class II Director to the Board of Directors for a term that expires at the Company’s 2014 annual stockholders meeting. Mr. Squarer succeeds Robert E. Conway, who resigned on January 16, 2012 as Array’s Chief Executive Officer. Mr. Kyle Lefkoff, who had been serving as Executive Chairman pending appointment of a Chief Executive Officer following Mr. Conway’s resignation, resigned effective April 26, 2012 as Executive Chairman and the Board of Directors appointed him Chairman of the Board of Directors. The Board also appointed him chair of the Compensation Committee and as a member of the Audit Committee of the Board, committee appointments he held prior to his appointment as interim Executive Chairman. Full Article
Array BioPharma, Inc. Names Ron Squarer Chief Executive Officer
Array BioPharma, Inc. announced that Ron Squarer has been appointed Chief Executive Officer (CEO), effective immediately. Mr. Squarer has also been named to the Array Board of Directors. Full Article
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
