Arno Therapeutics, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015
November 16, 2015 at 04:00 pm EST
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Arno Therapeutics, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported loss from operations of $2,875,000 compared to $5,675,000 a year ago. Net loss was $679,000 or loss of $0.03 per diluted share compared to net loss of $159,000 or $0.01 per diluted share a year ago. Non-GAAP adjusted net loss was $1,944,000 or loss of $0.10 per basic share compared to $4,552,000 or $0.22 per basic share a year ago.
For the nine months, the company reported loss from operations of $10,716,000 compared to $17,603,000 a year ago. Net loss was $7,513,000 or loss of $0.37 per diluted share compared to net income of $3,208,000 or $0.13 per diluted share a year ago. Non-GAAP adjusted net loss was $7,842,000 or loss of $0.38 per basic share compared to $14,068,000 or $0.69 per basic share a year ago.
Arno Therapeutics, Inc. is an early-stage company focused on developing products for the treatment of cancer and other life threatening diseases. The Company's product development pipeline includes Onapristone, AR-42, and AR-12 and analogs. Onapristone is indicated for endometrial, prostate and breast cancer indications. AR-42 is provided for hematological malignancies and solid tumors indications. AR-12 is offered for solid tumors and hematological malignancies, and various anti-microbial targets. Onapristone is a type 1 anti-progestin hormone blocker that has considerable anti-tumor activity in patients with breast cancer. The Company is engaged in developing and commercializing AR-42, which is an oral cancer therapy in early clinical development. AR-42 is a spectrum deacetylase inhibitor of both histone and non-histone proteins, which has potency and activity in solid tumors and hematological malignancies. AR-12 is an orally available cancer treatment.