Array BioPharma Inc. (NASDAQ:ARRY) share price increased to $11.44 each in the last business day compared to a prior close of $10.99. The current price is 6.31% above its 20-day SMA and 74.13% above its 50-day SMA. The shares have advanced 31.04% over the trailing 3 months.

Array BioPharma Inc. (NASDAQ:ARRY) on February 9, 2017 reported results for its second quarter of fiscal 2017.

FINANCIAL HIGHLIGHTS
Second Quarter of Fiscal 2017 Compared to First Quarter of Fiscal 2017 (Sequential Quarters Comparison)

  • Revenue for the second quarter of fiscal 2017 was $44.5 million, compared to $39.3 million for the prior sequential quarter, mainly driven by earning a $6.0 million milestone from Loxo Oncology for the advancement of larotrectinib (LOXO-101), the pan-Trk inhibitor for cancer and a $2.5 million milestone from Roche for the advancement of danoprevir, the NS3/4A protease inhibitor for Hepatitis C.
  • Cost of partnered programs for the second quarter of fiscal 2017 was $9.0 million, compared to $8.8 million for the prior quarter.
  • Research and development expense was $46.5 million, compared to $46.6 million in the prior quarter.
  • Net loss for the second quarter was $23.3 million, or ($0.14) per share, and was $28.6 million, or ($0.20) per share in the prior quarter.  The decrease in net loss was primarily due to increased milestone revenue.
  • Cash, Cash Equivalents and Marketable Securities as of December 31, 2016 were $214.8 million; this includes net proceeds of $124.2 million from the public offering of 21,160,000 shares of Array common stock in October 2016.

Second Quarter of Fiscal 2017 Compared to Second Quarter of Fiscal 2016 (Prior Year Comparison)

  • Revenue for the second quarter of fiscal 2017 increased $9.1 million compared to the same quarter of fiscal 2016. The increase was primarily due to earning a milestone from Loxo Oncology for the advancement of larotrectinib (LOXO-101), the TRK inhibitor for cancer and a milestone from Roche for the advancement of danoprevir, the NS3 protease inhibitor for Hepatitis C.
  • Cost of partnered programs increased $3.4 million compared to the second quarter of fiscal 2016. The increase was primarily due to costs incurred on the BEACON CRC trial.
  • Research and development expense increased $5.1 million, compared to the second quarter of fiscal 2016. The increase was due to binimetinib and encorafenib expenses as we transitioned activity from the “Novartis Agreements.”
  • Net loss for the second quarter of fiscal 2017 was $23.3 million, or ($0.14) per share, and was $24.2 million, or ($0.17) per share, for the same quarter in fiscal 2016.

OvaScience, Inc. (NASDAQ:OVAS) shares closed at $1.6, up 0.12 points or 8.11 percent from  the previous close price. The up to date insider trading filings show Director ALDRICH RICHARD has picked up 425,000 shares,upping the ownership to 1,964,072 units. The transaction occurred on Jun 01, 2016, at $7 per share worth a total $2,975,000. There was another major transaction on the insider-trading front. Dipp Michelle, CEO at OVAS bought 425,000 common shares at a per share price of $7 to hold 1,933,977 shares. The stock recently traded at a volume of 0 shares vs. an average volume of 1.27M. The latest closing price is now lower -44.64% for the past quarter. The price is now 3.23% above its 50-day moving average and -64.38% below its 200-day moving average. The percentage change return over the last fifty two weeks remained -79.25%. The price range in the same period had a highest hit of $11.66 while lowest level in that period was $1.3.

OvaScience, Inc. (NASDAQ:OVAS) on March 3, 2017 reported financial results for the fourth quarter and year ended December 31, 2016.

Fourth Quarter and Full Year 2016 Financial Results

  • Revenue for the quarter ended December 31, 2016 was $121,000, compared to $157,000 in the same period of 2015. Revenues for the full year 2016 were $653,000, compared to $277,000 in 2015. The Company recognized revenue related to 16 AUGMENT treatments in the fourth quarter of 2016, and related to 107 AUGMENT treatments in the full year 2016, including treatments offered under various pricing programs. In 2015, OvaScience recognized revenue from 22 AUGMENT treatments for the full fiscal year.
  • Net loss for the quarter ended December 31, 2016 was $22.6 million, or ($0.64) per share, as compared to net loss of $20.6 million, or ($0.76) per share, for the same period in 2015. Net loss for the full year ended December 31, 2016 was $82.3 million or ($2.56) per share, compared to net loss of $73.2 million or ($2.70) per share for the same period in 2015. The net loss for the quarter and year ended December 31, 2016 includes restructuring costs of $5.4 million.
  • Research and development expense for the quarter ended December 31, 2016, excluding restructuring costs, was $4.7 million, consistent with the same period in 2015. Research and development expense for the full year ended December 31, 2016, excluding restructuring costs, was $21.6 million, compared to $18.4 million in the same period in 2015. The year-over-year increase was primarily driven by a $3.9 million increase in employee compensation and related benefits driven by the hiring of additional research and development personnel, a $2.4 million increase in costs associated with certain ongoing research agreements, clinical studies and other costs, partially offset by a $3.3 million decrease in stock-based compensation expense related to certain mark-to-market adjustments of Founders’ stock, which was fully vested and expensed in the first quarter of 2015 that did not recur in 2016, and stock-based compensation expense for certain senior executives that did not recur in 2016 as a result of executive leadership changes.
  • Selling, general and administrative expense for the quarter ended December 31, 2016, excluding restructuring costs, was $10.9 million, compared to $14.6 million for the same period in 2015. This decrease was primarily driven by a $3.2 million decrease in stock-based compensation expense related to certain senior executives that did not recur in 2016 as a result of executive leadership changes in 2016, a $1.7 million decrease in costs related to international expansion preparation, including the establishment of certain international legal entities and international infrastructure, partially offset by a $1.2 million increase in costs related to commercialization efforts and overall business expansion, including increased marketing-related costs. Selling, general and administrative expense for the full year ended December 31, 2016 was $49.2 million, compared to $51.6 million in the same period in 2015. This decrease was primarily driven by a $7.2 million decrease in stock-based compensation expense related to certain senior executives that did not recur in 2016 as a result of executive leadership changes in 2016, as well as certain mark-to-market adjustments of Founders’ stock, which was fully vested and expensed in the first quarter of 2015 and did not recur in 2016, a $4.2 million decrease in costs related to international expansion preparation, including the establishment of certain international legal entities and international infrastructure, partially offset by a $4.7 million increase in costs related to commercialization efforts and overall business expansion, including increased marketing-related costs, and a $4.3 million increase in employee compensation and related benefits driven by the hiring of additional selling, general and administrative personnel.

At December 31, 2016, OvaScience had cash, cash equivalents and short-term investments of $114.4 million. OvaScience expects one-time cash expenditures of approximately $5.7 million to $6.5 million over 2017 and 2018 related to actions resulting from the corporate restructuring announced in December 2016. The Company may also incur further restructuring charges related to the restructuring plan. OvaScience’s operating cash burn for 2017 is expected to be between $45 million and $50 million, which excludes these one-time cash expenditures. OvaScience anticipates that it will have sufficient funds, without additional financing, to support its operating plan into the first quarter of 2019.