Array BioPharma’s revenue up, loss trimmed during most recent quarter

BOULDER – Array BioPharma Inc. (Nasdaq: ARRY) reported an increase in revenue and a reduction in losses during the second quarter of its fiscal year 2017 that ended Dec. 31.

The Boulder-based biotech posted revenue of $44.5 million during the most recent quarter, compared with $39.3 million for the prior quarter. The bump in revenue mainly was driven by earning a $6 million milestone from Loxo Oncology for the advancement of the cancer-fighting drug larotrectinib, and a $2.5 million milestone from Roche for the advancement of danoprevir, which fights hepatitis C.

Array still posted a loss…