Array Biopharma beats analyst expectations despite Q3 loss

BOULDER — Array Biopharma Inc. (Nasdaq: ARRY) beat analyst expectations for its third quarter earnings by 11 cents, despite posting a loss of 11 cents per share.

Array, a Boulder-based biotech company, had a net loss of nearly $22.9 million, an improvement on the same period the year prior, when the net loss was $35.3 million.

Revenue was $66 million, which grew 99 percent year-over-year and beat expectations by $34.7 million.

Array added that its new drug applications for the combination of its drugs encorafenib and binimetinib to treat patients with advanced or metastatic melanoma are under review with a target action date of June 30.