Array Biopharma overview
Array BioPharma (ARRY) is focused on developing and marketing targeted small molecule drugs for treating patients with cancer and other high burden diseases.
Array’s drugs Braftovi and Mektovi received approval in the United States in June for the treatment of unresectable or metastatic melanoma with a BRAFV or BRAF mutation and in the European Union in September for the treatment of unresectable or metastatic melanoma with a BRAF mutation.
Array BioPharma generated total revenue of $56.91 million in the first quarter of fiscal 2019 compared to $29.75 million in the comparable period of 2018. The third quarter of 2018 was the first quarter of Array BioPharma’s fiscal 2019.
Array’s collaboration and license revenue rose from $11.55 million in the first quarter of fiscal 2018 to $31.03 million in the first quarter of fiscal 2019 due to milestone payments it received from Pierre Fabre. Array’s reimbursement revenue decreased from $18.19 million in the first quarter of 2018 to $11.89 million in the latest quarter. In the first quarter of 2019, Array BioPharma generated $13.99 million in revenue from the sales of Braftovi and Mektovi, which it started selling in July.
In fiscals 2019 and 2020, Array BioPharma expects to generate revenues of $213.68 million and $302.84 million, respectively, compared to $173.77 million in fiscal 2018.
We’ll take a look at Array BioPharma’s operational performance in the next article.