BOULDER — Array BioPharma Inc. (Nasdaq: ARRY) missed analyst expectations by 4 cents when it posted a third-quarter loss per share of 21 cents.
The cancer-research company also missed on revenue. Its $33.3 million for the quarter was a 23 percent slide from the same period last year and missed analyst expectations by nearly $4 million.
Operating expenses grew year-over-year by about $2 million to $65 million. And loss from operations grew from $20 million for the third quarter 2016 to about $32 million in this latest quarter.
The financial report comes just days after Array announced a partnership with Merck to collaborate on a clinical trial that would combine Array’s binimetinib drug with Merck’s Keytruda in colorectal cancer patients. Merck will be the sponsor of that clinical trial.